Perrigo (NYSE:PRGO) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Perrigo (NYSE:PRGO) from a buy rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings upgraded Perrigo from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Perrigo has a consensus rating of “Reduce” and a consensus price target of $18.50.

Perrigo Stock Performance

Perrigo stock opened at $15.81 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.32 and a quick ratio of 1.32. Perrigo has a 1 year low of $9.23 and a 1 year high of $20.65. The company has a market capitalization of $2.19 billion, a P/E ratio of -1.26, a P/E/G ratio of 1.83 and a beta of 0.69. The business has a 50 day moving average of $14.86 and a 200-day moving average of $12.48.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 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 company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the firm posted ($0.06) EPS. The company’s quarterly revenue was down 3.1% on a year-over-year basis. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. On average, equities research analysts predict that Perrigo will post 2.17 earnings per share for the current year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, November 27th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend is Friday, November 27th. Perrigo’s dividend payout ratio (DPR) is presently -9.27%.

Institutional Trading of Perrigo

Hedge funds have recently bought and sold shares of the business. First Trust Advisors LP lifted its stake in Perrigo by 125.5% in the first quarter. First Trust Advisors LP now owns 1,496,244 shares of the company’s stock valued at $16,070,000 after purchasing an additional 832,686 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Perrigo in the first quarter worth $4,806,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Perrigo in the second quarter worth $4,066,000. ProShare Advisors LLC grew its stake in shares of Perrigo by 51.7% during the 3rd quarter. ProShare Advisors LLC now owns 959,053 shares of the company’s stock worth $14,156,000 after acquiring an additional 326,797 shares during the period. Finally, Gamco Investors INC. ET AL increased its holdings in Perrigo by 29.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,397,866 shares of the company’s stock worth $15,013,000 after acquiring an additional 320,081 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors.

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.