Perrigo Company plc (NYSE:PRGO) Given Consensus Rating of “Reduce” by Analysts

Perrigo Company plc (NYSE:PRGO) has received an average recommendation of “Reduce” from the six research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $20.3333.

Several brokerages have recently issued reports on PRGO. Canaccord Genuity Group dropped their target price on shares of Perrigo from $40.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Perrigo in a report on Monday, December 22nd. JPMorgan Chase & Co. lowered their target price on shares of Perrigo from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, December 15th. Zacks Research downgraded shares of Perrigo from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Finally, Argus raised shares of Perrigo to a “hold” rating in a report on Wednesday, January 14th.

Perrigo Stock Up 4.1%

PRGO stock opened at $14.72 on Thursday. The company has a quick ratio of 1.44, a current ratio of 2.51 and a debt-to-equity ratio of 0.81. The business has a 50 day moving average of $14.04 and a 200 day moving average of $18.84. Perrigo has a twelve month low of $12.17 and a twelve month high of $30.93. The firm has a market cap of $2.03 billion, a PE ratio of -38.74, a price-to-earnings-growth ratio of 1.27 and a beta of 0.39.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Perrigo had a negative net margin of 1.21% and a positive return on equity of 9.16%. Perrigo’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 EPS. On average, research analysts forecast that Perrigo will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Geoffrey M. Parker bought 7,500 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was acquired at an average cost of $14.18 per share, for a total transaction of $106,350.00. Following the purchase, the director owned 17,375 shares in the company, valued at approximately $246,377.50. This represents a 75.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Institutional Trading of Perrigo

Several large investors have recently modified their holdings of the company. State of Michigan Retirement System increased its position in Perrigo by 1.2% during the second quarter. State of Michigan Retirement System now owns 33,058 shares of the company’s stock valued at $883,000 after acquiring an additional 400 shares during the last quarter. Amundi grew its stake in shares of Perrigo by 11.7% during the 1st quarter. Amundi now owns 5,292 shares of the company’s stock valued at $148,000 after purchasing an additional 556 shares during the period. Slocum Gordon & Co LLP grew its stake in shares of Perrigo by 1.1% during the 3rd quarter. Slocum Gordon & Co LLP now owns 53,253 shares of the company’s stock valued at $1,186,000 after purchasing an additional 602 shares during the period. Hantz Financial Services Inc. increased its position in shares of Perrigo by 101.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,234 shares of the company’s stock valued at $33,000 after purchasing an additional 620 shares during the last quarter. Finally, Kestra Investment Management LLC increased its position in shares of Perrigo by 57.1% during the 2nd quarter. Kestra Investment Management LLC now owns 1,766 shares of the company’s stock valued at $47,000 after purchasing an additional 642 shares during the last quarter. Institutional investors own 95.91% of the company’s stock.

Perrigo Company Profile

Perrigo Company plc is a global healthcare supplier specializing in over-the-counter (OTC) and self-care products, as well as generic prescription pharmaceuticals and active pharmaceutical ingredients. The company develops, manufactures and distributes a broad array of consumer health products, including analgesics, vitamins and supplements, digestive health remedies, topical treatments, and infant formulas. Perrigo’s focus on private-label solutions has made it a leading partner for retailers and pharmacy chains seeking high-quality, value-oriented alternatives to branded medications and health supplements.

Organized across three principal business segments—Consumer Healthcare, Prescription Pharmaceuticals and Active Pharmaceutical Ingredients—Perrigo’s operations span research and development, manufacturing, quality assurance and global distribution.