Perrigo (NYSE:PRGO) Stock Rating Lowered by StockNews.com

Perrigo (NYSE:PRGO - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday.

A number of other analysts have also recently issued reports on the company. Jefferies Financial Group restated a "hold" rating and set a $30.00 price objective (down from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. Canaccord Genuity Group reissued a "buy" rating and issued a $42.00 price target on shares of Perrigo in a report on Monday, September 30th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.00.

Perrigo Stock Down 0.2 %

Shares of NYSE PRGO traded down $0.05 during mid-day trading on Friday, reaching $25.95. 1,223,891 shares of the company traded hands, compared to its average volume of 1,398,646. The company's fifty day moving average is $26.81 and its two-hundred day moving average is $26.82. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. Perrigo has a fifty-two week low of $23.89 and a fifty-two week high of $34.60. The stock has a market cap of $3.54 billion, a PE ratio of -22.18 and a beta of 0.52.

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 company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The company's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 earnings per share. On average, analysts expect that Perrigo will post 2.56 earnings per share for the current year.

Insider Transactions at Perrigo

In other news, Director Jeffrey B. Kindler sold 17,598 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now owns 5,409 shares of the company's stock, valued at $152,912.43. This trade represents a 76.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.70% of the company's stock.

Institutional Trading of Perrigo

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its position in Perrigo by 229.2% in the third quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company's stock worth $70,761,000 after acquiring an additional 1,878,145 shares during the period. FMR LLC lifted its position in shares of Perrigo by 66,795.3% during the 3rd quarter. FMR LLC now owns 1,840,289 shares of the company's stock valued at $48,271,000 after buying an additional 1,837,538 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Perrigo by 83.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,940,067 shares of the company's stock valued at $49,821,000 after purchasing an additional 881,191 shares during the last quarter. AQR Capital Management LLC boosted its position in Perrigo by 675.5% during the second quarter. AQR Capital Management LLC now owns 970,637 shares of the company's stock worth $24,926,000 after purchasing an additional 845,470 shares during the period. Finally, Copeland Capital Management LLC increased its stake in shares of Perrigo by 23.1% in the third quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company's stock worth $65,117,000 after purchasing an additional 465,161 shares in the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

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.