Canaccord Genuity Group Forecasts Strong Price Appreciation for Perrigo (NYSE:PRGO) Stock

Perrigo (NYSE:PRGO) had its price objective hoisted by stock analysts at Canaccord Genuity Group from $17.00 to $19.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group‘s price objective would indicate a potential upside of 20.41% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Research cut shares of Perrigo from a “hold” rating to a “strong sell” rating in a research report on Thursday. Finally, Weiss Ratings raised shares of Perrigo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $18.50.

Perrigo Stock Performance

Shares of PRGO stock opened at $15.78 on Friday. The business has a 50-day moving average of $14.83 and a 200 day moving average of $12.48. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.32 and a quick ratio of 1.32. Perrigo has a 1-year low of $9.23 and a 1-year high of $21.01. The stock has a market capitalization of $2.19 billion, a PE ratio of -1.26, a P/E/G ratio of 1.82 and a beta of 0.71.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.11. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Perrigo had a positive return on equity of 11.25% and a negative net margin of 41.85%. The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. As a group, sell-side analysts anticipate that Perrigo will post 2.17 earnings per share for the current year.

Institutional Investors Weigh In On Perrigo

A number of large investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in Perrigo by 25.5% during the 1st quarter. Bank of America Corp DE now owns 1,568,598 shares of the company’s stock valued at $16,847,000 after acquiring an additional 318,248 shares during the period. Gamco Investors INC. ET AL grew its stake in shares of Perrigo by 29.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,397,866 shares of the company’s stock worth $15,013,000 after buying an additional 320,081 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Perrigo in the 2nd quarter worth approximately $4,066,000. Empowered Funds LLC increased its position in Perrigo by 41.6% during the 1st quarter. Empowered Funds LLC now owns 511,872 shares of the company’s stock valued at $5,498,000 after buying an additional 150,438 shares in the last quarter. Finally, Gabelli Funds LLC raised its stake in Perrigo by 29.8% during the first quarter. Gabelli Funds LLC now owns 893,359 shares of the company’s stock valued at $9,595,000 after buying an additional 205,311 shares during the last quarter. Institutional investors own 95.91% of the company’s stock.

About Perrigo

Perrigo Company plc is a global consumer self-care company that develops, manufactures and markets over-the-counter health products, wellness products and personal care items. Its portfolio includes products for allergy, pain relief, digestive health, skin care, smoking cessation, women’s health and other everyday health needs, along with vitamins, nutritional supplements and infant nutrition products.

Perrigo supplies products under its own brands, acquired brands and retailer-owned private-label labels.