Perrigo (NYSE:PRGO) Stock Price Target Raised at Canaccord Genuity Group

Perrigo (NYSE:PRGO) had its price target upped by equities research analysts at Canaccord Genuity Group from $17.00 to $19.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group‘s target price suggests a potential upside of 20.41% from the company’s current price.

A number of other equities research analysts also recently commented on PRGO. Wall Street Zen downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised Perrigo from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, August 6th. Finally, Zacks Research downgraded Perrigo from a “hold” rating to a “strong sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $18.50.

Perrigo Price Performance

Shares of NYSE:PRGO opened at $15.78 on Friday. 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 firm has a market cap of $2.19 billion, a price-to-earnings ratio of -1.26, a price-to-earnings-growth ratio of 1.82 and a beta of 0.71. The business has a 50-day simple moving average of $14.83 and a two-hundred day simple moving average of $12.48. Perrigo has a fifty-two week low of $9.23 and a fifty-two week high of $21.01.

Perrigo (NYSE:PRGO) last announced 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. Perrigo had a negative net margin of 41.85% and a positive return on equity of 11.25%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm posted ($0.06) EPS. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. On average, analysts expect that Perrigo will post 2.17 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Salomon & Ludwin LLC purchased a new stake in Perrigo in the 3rd quarter worth approximately $25,000. KBC Group NV lifted its holdings in Perrigo by 61.3% during the first quarter. KBC Group NV now owns 6,283 shares of the company’s stock valued at $67,000 after purchasing an additional 2,388 shares in the last quarter. Parvin Asset Management LLC purchased a new position in Perrigo during the second quarter valued at approximately $79,000. Covestor Ltd boosted its position in shares of Perrigo by 13.1% in the third quarter. Covestor Ltd now owns 7,748 shares of the company’s stock worth $114,000 after purchasing an additional 897 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Perrigo by 489.1% in the second quarter. Allworth Financial LP now owns 9,390 shares of the company’s stock worth $98,000 after purchasing an additional 7,796 shares in the last quarter. Hedge funds and other institutional investors 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.