Perrigo (NYSE:PRGO) Upgraded to Buy at StockNews.com

Perrigo (NYSE:PRGO - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Monday.

A number of other analysts have also recently commented on PRGO. Piper Sandler cut shares of Perrigo from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $34.00 to $27.00 in a research note on Monday, January 6th. Argus cut shares of Perrigo from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Perrigo has a consensus rating of "Moderate Buy" and an average target price of $35.00.

Perrigo Stock Performance

Shares of Perrigo stock traded down $0.32 on Monday, reaching $24.48. 623,941 shares of the company traded hands, compared to its average volume of 1,260,462. Perrigo has a 52 week low of $23.14 and a 52 week high of $33.46. The company has a 50 day moving average of $25.32 and a 200 day moving average of $26.40. The firm has a market capitalization of $3.34 billion, a PE ratio of -20.93 and a beta of 0.54. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77.

Insiders Place Their Bets

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

Institutional Trading of Perrigo

Several institutional investors and hedge funds have recently made changes to their positions in PRGO. Headlands Technologies LLC raised its position in shares of Perrigo by 1,942.0% during the 4th quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock valued at $36,000 after buying an additional 1,340 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of Perrigo during the 4th quarter valued at $45,000. GAMMA Investing LLC grew 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 purchasing an additional 929 shares during the last quarter. Central Pacific Bank Trust Division grew 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 purchasing an additional 500 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new position in shares of Perrigo during the 3rd quarter valued at $56,000. 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.