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

Wall Street Zen lowered shares of Perrigo (NYSE:PRGO) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Several other research analysts have also commented on the company. Canaccord Genuity Group reduced their price target on Perrigo from $40.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday. Jefferies Financial Group cut their target price on Perrigo from $27.00 to $23.00 and set a “hold” rating on the stock in a research note on Monday, October 27th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $20.00 price target (down from $32.00) on shares of Perrigo in a research report on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Perrigo in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.50.

Perrigo Price Performance

Shares of PRGO opened at $14.24 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 2.32. The company has a 50 day moving average price of $21.15 and a 200-day moving average price of $24.34. Perrigo has a fifty-two week low of $14.12 and a fifty-two week high of $30.93. The stock has a market capitalization of $1.96 billion, a PE ratio of -24.55 and a beta of 0.42.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.05. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.10 billion. Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. Perrigo’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the company posted $0.81 earnings per share. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. Equities analysts predict that Perrigo will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 28th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.1%. Perrigo’s dividend payout ratio (DPR) is currently -305.26%.

Insider Activity at Perrigo

In related news, EVP Abigail Lennox acquired 1,255 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were purchased at an average cost of $22.41 per share, with a total value of $28,124.55. Following the completion of the acquisition, the executive vice president directly owned 1,255 shares of the company’s stock, valued at $28,124.55. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eduardo Guarita Bezerra bought 3,000 shares of Perrigo stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price of $22.74 per share, with a total value of $68,220.00. Following the purchase, the chief financial officer directly owned 48,949 shares in the company, valued at $1,113,100.26. The trade was a 6.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 10,118 shares of company stock valued at $232,699. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Perrigo

Institutional investors and hedge funds have recently modified their holdings of the company. State of Michigan Retirement System increased its holdings in Perrigo by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 32,658 shares of the company’s stock worth $916,000 after buying an additional 400 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Perrigo by 54.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the company’s stock valued at $32,000 after acquiring an additional 424 shares during the last quarter. Amundi boosted its holdings in shares of Perrigo by 11.7% in the 1st quarter. Amundi now owns 5,292 shares of the company’s stock valued at $148,000 after acquiring an additional 556 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Perrigo by 1.4% in the second quarter. Public Employees Retirement System of Ohio now owns 42,290 shares of the company’s stock worth $1,130,000 after acquiring an additional 564 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its position in Perrigo by 1.0% during the second quarter. Harbor Capital Advisors Inc. now owns 57,625 shares of the company’s stock valued at $1,540,000 after purchasing an additional 570 shares during the period. Institutional investors and hedge funds 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.