Perrigo Company plc (NYSE:PRGO) Receives Average Rating of “Reduce” from Brokerages

Shares of Perrigo Company plc (NYSE:PRGO) have earned an average rating of “Reduce” from the six brokerages that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $20.3333.

Several brokerages have weighed in on PRGO. Zacks Research cut shares of Perrigo from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Canaccord Genuity Group dropped their target price on shares of Perrigo from $40.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Wall Street Zen cut Perrigo from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Perrigo in a report on Monday, December 22nd. Finally, Argus upgraded Perrigo to a “hold” rating in a report on Wednesday, January 14th.

Insider Buying and Selling

In related news, Director Geoffrey M. Parker purchased 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were acquired at an average price of $14.18 per share, for a total transaction of $106,350.00. Following the completion of the acquisition, the director directly owned 17,375 shares in the company, valued at approximately $246,377.50. The trade was a 75.95% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Perrigo

Institutional investors and hedge funds have recently modified their holdings of the stock. Geneos Wealth Management Inc. raised its stake in Perrigo by 439.1% in the first quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock worth $27,000 after buying an additional 786 shares in the last quarter. Huntington National Bank increased its stake in shares of Perrigo by 237.8% in the 2nd quarter. Huntington National Bank now owns 1,054 shares of the company’s stock worth $28,000 after acquiring an additional 742 shares in the last quarter. CWM LLC lifted its position in Perrigo by 230.0% during the 4th quarter. CWM LLC now owns 2,191 shares of the company’s stock valued at $31,000 after acquiring an additional 1,527 shares during the period. Hantz Financial Services Inc. boosted its stake in Perrigo by 101.0% during the second quarter. Hantz Financial Services Inc. now owns 1,234 shares of the company’s stock worth $33,000 after acquiring an additional 620 shares in the last quarter. Finally, Key Capital Management INC purchased a new stake in Perrigo in the fourth quarter worth about $36,000. 95.91% of the stock is owned by hedge funds and other institutional investors.

Perrigo Stock Performance

NYSE PRGO opened at $14.72 on Thursday. The company has a 50-day simple moving average of $14.04 and a two-hundred day simple moving average of $18.84. Perrigo has a 12-month low of $12.17 and a 12-month high of $30.93. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -38.74, a PEG ratio of 1.27 and a beta of 0.39. The company has a quick ratio of 1.44, a current ratio of 2.51 and a debt-to-equity ratio of 0.81.

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

About Perrigo

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.