Perrigo (NYSE:PRGO) Stock Rating Lowered by Argus

Perrigo (NYSE:PRGO - Get Free Report) was downgraded by investment analysts at Argus from a "buy" rating to a "hold" rating in a note issued to investors on Tuesday, Marketbeat reports.

PRGO has been the subject of several other reports. Piper Sandler lowered shares of Perrigo from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $34.00 to $27.00 in a report on Monday, January 6th. Jefferies Financial Group restated a "hold" rating and issued a $30.00 price objective (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Canaccord Genuity Group reaffirmed a "buy" rating and set a $42.00 price objective on shares of Perrigo in a research report on Monday, September 30th. Finally, StockNews.com lowered Perrigo from a "buy" rating to a "hold" rating in a research report on Saturday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Perrigo presently has an average rating of "Hold" and an average target price of $35.00.

Perrigo Trading Down 3.2 %

Shares of NYSE:PRGO traded down $0.77 during midday trading on Tuesday, hitting $23.57. 1,794,254 shares of the stock traded hands, compared to its average volume of 1,585,242. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The business's 50 day moving average is $26.71 and its two-hundred day moving average is $26.80. The stock has a market capitalization of $3.22 billion, a PE ratio of -20.15 and a beta of 0.53. Perrigo has a one year low of $23.14 and a one year high of $33.96.

Perrigo (NYSE:PRGO - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, meeting analysts' consensus estimates of $0.81. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. Perrigo's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 EPS. As a group, research analysts forecast that Perrigo will post 2.56 earnings per share for the current year.

Insider Transactions at Perrigo

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the company's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $28.27, for a total value of $497,495.46. Following the transaction, the director now directly owns 5,409 shares of the company's stock, valued at approximately $152,912.43. This represents a 76.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Versant Capital Management Inc bought a new stake in Perrigo in the 4th quarter worth about $45,000. GAMMA Investing LLC boosted its holdings in shares of Perrigo by 93.7% during the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock valued at $49,000 after acquiring an additional 929 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of Perrigo by 33.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company's stock valued at $51,000 after acquiring an additional 500 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Perrigo in the third quarter worth approximately $56,000. Finally, KBC Group NV raised its holdings in shares of Perrigo by 25.1% during the third quarter. KBC Group NV now owns 4,517 shares of the company's stock valued at $118,000 after purchasing an additional 905 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company's stock.

About Perrigo

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.