Perrigo (NYSE:PRGO) Hits New 12-Month Low at $24.75

Shares of Perrigo Company plc (NYSE:PRGO) hit a new 52-week low during trading on Thursday . The company traded as low as $24.75 and last traded at $24.76, with a volume of 7331 shares. The stock had previously closed at $25.08.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PRGO. StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Piper Sandler lowered their price target on Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 target price on shares of Perrigo in a report on Monday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Perrigo Stock Down 0.5 %

The company’s 50-day simple moving average is $27.65 and its two-hundred day simple moving average is $28.56. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.99 and a quick ratio of 1.24. The firm has a market capitalization of $3.40 billion, a P/E ratio of -358.14 and a beta of 0.49.

Perrigo (NYSE:PRGO) last announced its earnings results on Friday, August 2nd. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the firm earned $0.63 EPS. Perrigo’s revenue for the quarter was down 10.7% compared to the same quarter last year. As a group, research analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were issued a $0.276 dividend. This represents a $1.10 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend was Friday, August 30th. Perrigo’s dividend payout ratio is -1,571.43%.

Insiders Place Their Bets

In other Perrigo 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 value of $244,444.20. Following the completion of the transaction, the director now directly owns 6,009 shares in the company, valued at $164,045.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Katherine C. Doyle sold 8,954 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the transaction, the director now directly owns 6,009 shares in the company, valued at $164,045.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $382,200.00. Following the sale, the executive vice president now owns 20,553 shares of the company’s stock, valued at approximately $604,258.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,254 shares of company stock worth $1,411,969. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Perrigo

A number of hedge funds and other institutional investors have recently modified their holdings of PRGO. M&R Capital Management Inc. lifted its stake in Perrigo by 3.0% in the 1st quarter. M&R Capital Management Inc. now owns 14,717 shares of the company’s stock worth $474,000 after purchasing an additional 434 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Perrigo by 0.3% in the first quarter. Retirement Systems of Alabama now owns 170,162 shares of the company’s stock worth $5,478,000 after buying an additional 447 shares in the last quarter. Ridgewood Investments LLC boosted its stake in Perrigo by 1.3% during the first quarter. Ridgewood Investments LLC now owns 35,140 shares of the company’s stock valued at $1,131,000 after buying an additional 451 shares during the last quarter. Park Avenue Securities LLC grew its holdings in Perrigo by 4.3% during the 1st quarter. Park Avenue Securities LLC now owns 11,330 shares of the company’s stock valued at $365,000 after buying an additional 465 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Perrigo by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 37,939 shares of the company’s stock worth $974,000 after acquiring an additional 699 shares in the last quarter. Institutional investors own 95.91% of the company’s stock.

Perrigo Company Profile

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.