Perrigo (NYSE:PRGO) Downgraded by Zacks Research to Strong Sell

Zacks Research lowered shares of Perrigo (NYSE:PRGO) from a hold rating to a strong sell rating in a report released on Thursday morning,Zacks reports.

A number of other equities analysts also recently weighed in on the stock. Weiss Ratings raised shares of Perrigo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. Wall Street Zen lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Perrigo currently has an average rating of “Reduce” and a consensus price target of $17.50.

Perrigo Price Performance

Shares of PRGO stock opened at $15.78 on Thursday. The stock’s fifty day moving average is $14.83 and its 200-day moving average is $12.48. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.32 and a current ratio of 2.32. The stock has a market capitalization of $2.19 billion, a PE ratio of -1.26, a PEG ratio of 1.83 and a beta of 0.69. Perrigo has a 52 week low of $9.23 and a 52 week high of $21.01.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Perrigo had a positive return on equity of 11.25% and a negative net margin of 41.85%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.06) earnings per share. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. Equities research analysts expect that Perrigo will post 2.17 EPS for the current fiscal year.

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, November 27th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, November 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.4%. Perrigo’s payout ratio is presently -9.27%.

Hedge Funds Weigh In On Perrigo

Several large investors have recently made changes to their positions in PRGO. Bank of America Corp DE lifted its holdings in Perrigo by 25.5% in the first quarter. Bank of America Corp DE now owns 1,568,598 shares of the company’s stock valued at $16,847,000 after buying an additional 318,248 shares during the period. Gamco Investors INC. ET AL boosted its stake in Perrigo by 29.7% in the first quarter. Gamco Investors INC. ET AL now owns 1,397,866 shares of the company’s stock valued at $15,013,000 after acquiring an additional 320,081 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Perrigo during the 2nd quarter worth $4,066,000. Empowered Funds LLC grew its holdings in Perrigo by 41.6% during the 1st quarter. Empowered Funds LLC now owns 511,872 shares of the company’s stock worth $5,498,000 after acquiring an additional 150,438 shares during the period. Finally, Gabelli Funds LLC grew its holdings in Perrigo by 29.8% during the 1st quarter. Gabelli Funds LLC now owns 893,359 shares of the company’s stock worth $9,595,000 after acquiring an additional 205,311 shares during the period. Institutional investors and hedge funds own 95.91% of the company’s stock.

About Perrigo

Perrigo Company plc is a global consumer self-care company that develops, manufactures and markets over-the-counter health products, wellness products and personal care items. Its portfolio includes products for allergy, pain relief, digestive health, skin care, smoking cessation, women’s health and other everyday health needs, along with vitamins, nutritional supplements and infant nutrition products.

Perrigo supplies products under its own brands, acquired brands and retailer-owned private-label labels.