Perrigo (NYSE:PRGO) Receives Hold Rating from Jefferies Financial Group

Perrigo (NYSE:PRGO)‘s stock had its “hold” rating restated by investment analysts at Jefferies Financial Group in a note issued to investors on Monday, Benzinga reports. They presently have a $30.00 price objective on the stock, down from their prior price objective of $50.00. Jefferies Financial Group’s price target points to a potential upside of 10.82% from the stock’s current price.

Several other equities analysts have also issued reports on PRGO. Piper Sandler reduced their target price on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.00.

Perrigo Stock Down 0.2 %

PRGO traded down $0.06 during midday trading on Monday, reaching $27.07. 895,238 shares of the company were exchanged, compared to its average volume of 1,619,228. The company has a market cap of $3.69 billion, a price-to-earnings ratio of -386.57 and a beta of 0.49. Perrigo has a one year low of $24.82 and a one year high of $34.60. The company’s fifty day moving average price is $27.92 and its 200 day moving average price is $28.81. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.99.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. Perrigo’s revenue was down 10.7% compared to the same quarter last year. As a group, analysts expect that Perrigo will post 2.57 EPS for the current year.

Insider Activity at Perrigo

In related news, Director Katherine C. Doyle sold 8,954 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $27.30, for a total transaction of $244,444.20. Following the sale, the director now directly owns 6,009 shares in the company, valued at approximately $164,045.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction of $244,444.20. Following the sale, the director now owns 6,009 shares of the company’s stock, valued at approximately $164,045.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ronald Craig Janish sold 13,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $29.40, for a total transaction of $382,200.00. Following the completion of the sale, the executive vice president now directly owns 20,553 shares in the company, valued at $604,258.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,254 shares of company stock worth $1,411,969. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Central Pacific Bank Trust Division bought a new stake in Perrigo during the first quarter valued at $48,000. Parallel Advisors LLC boosted its position in shares of Perrigo by 69.1% during the 4th quarter. Parallel Advisors LLC now owns 2,009 shares of the company’s stock valued at $65,000 after acquiring an additional 821 shares during the last quarter. TFC Financial Management Inc. grew its holdings in shares of Perrigo by 39.7% during the first quarter. TFC Financial Management Inc. now owns 2,462 shares of the company’s stock worth $79,000 after purchasing an additional 700 shares in the last quarter. Beach Investment Counsel Inc. PA bought a new position in shares of Perrigo in the second quarter worth approximately $72,000. Finally, Voisard Asset Management Group Inc. raised its stake in Perrigo by 520.0% in the second quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock valued at $119,000 after purchasing an additional 3,900 shares in the last quarter. Institutional investors own 95.91% of the company’s stock.

About Perrigo

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.