Perrigo (NYSE:PRGO) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Perrigo (NYSE:PRGO) from a buy rating to a hold rating in a research note released on Wednesday.

Several other analysts have also commented on PRGO. Piper Sandler lowered shares of Perrigo from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $34.00 to $27.00 in a research report on Monday, January 6th. Argus lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.00.

Perrigo Stock Up 2.8 %

PRGO stock opened at $24.81 on Wednesday. The firm has a market cap of $3.38 billion, a PE ratio of -21.20 and a beta of 0.54. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The firm’s fifty day moving average is $25.06 and its 200 day moving average is $26.29. Perrigo has a one year low of $23.14 and a one year high of $33.46.

Perrigo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be given a $0.29 dividend. This is a positive change from Perrigo’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 4.68%. Perrigo’s dividend payout ratio (DPR) is -94.02%.

Insider Activity

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the transaction, the director now directly owns 5,409 shares in the company, valued at approximately $152,912.43. The trade was a 76.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Perrigo

A number of institutional investors and hedge funds have recently bought and sold shares of PRGO. Headlands Technologies LLC boosted its position in Perrigo by 1,942.0% during the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company’s stock worth $36,000 after acquiring an additional 1,340 shares during the last quarter. Versant Capital Management Inc purchased a new position in Perrigo during the fourth quarter worth about $45,000. GAMMA Investing LLC raised its stake in Perrigo by 93.7% during the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $49,000 after purchasing an additional 929 shares during the period. Central Pacific Bank Trust Division raised its stake in Perrigo by 33.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock worth $51,000 after purchasing an additional 500 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in Perrigo during the third quarter worth about $56,000. 95.91% of the stock is currently owned by institutional investors and hedge funds.

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.