Perrigo (NYSE:PRGO) Sets New 52-Week Low – Should You Sell?

Shares of Perrigo Company plc (NYSE:PRGO) hit a new 52-week low on Tuesday . The company traded as low as $14.12 and last traded at $14.24, with a volume of 4929401 shares trading hands. The stock had previously closed at $14.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Zacks Research lowered shares of Perrigo from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Jefferies Financial Group lowered their price target on shares of Perrigo from $27.00 to $23.00 and set a “hold” rating on the stock in a research report on Monday, October 27th. Wall Street Zen downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. JPMorgan Chase & Co. restated a “neutral” rating and set a $20.00 target price (down from $32.00) on shares of Perrigo in a report on Thursday, November 6th. Finally, Canaccord Genuity Group cut their price target on Perrigo from $40.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, November 6th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Perrigo currently has an average rating of “Reduce” and an average target price of $22.50.

Perrigo Price Performance

The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -24.42 and a beta of 0.42. The company has a current ratio of 2.32, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock’s fifty day moving average price is $20.78 and its 200-day moving average price is $24.19.

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

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 28th will be given 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 yield of 8.2%. Perrigo’s dividend payout ratio is presently -305.26%.

Insider Activity at Perrigo

In related news, CFO Eduardo Guarita Bezerra bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price of $22.74 per share, for a total transaction of $68,220.00. Following the acquisition, the chief financial officer owned 48,949 shares of the company’s stock, valued at approximately $1,113,100.26. This trade represents a 6.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Abigail Lennox acquired 1,255 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was purchased at an average cost of $22.41 per share, with a total value of $28,124.55. Following the completion of the purchase, the executive vice president directly owned 1,255 shares of the company’s stock, valued at approximately $28,124.55. This represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 10,118 shares of company stock worth $232,699. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Perrigo

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