Perrigo (NYSE:PRGO) Sets New 12-Month Low – Should You Sell?

Perrigo Company plc (NYSE:PRGO) shares reached a new 52-week low on Tuesday . The company traded as low as $23.70 and last traded at $23.71, with a volume of 113198 shares. The stock had previously closed at $24.34.

Wall Street Analysts Forecast Growth

PRGO has been the topic of several recent analyst reports. Piper Sandler lowered Perrigo from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $34.00 to $27.00 in a research note on Monday, January 6th. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 target price (down previously from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. StockNews.com lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $42.00 price objective on shares of Perrigo in a report on Monday, September 30th. Finally, Argus downgraded Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Perrigo has a consensus rating of “Hold” and an average price target of $35.00.

Perrigo Price Performance

The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The company’s fifty day moving average is $26.71 and its 200 day moving average is $26.80. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of -20.12 and a beta of 0.53.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 EPS. On average, equities research analysts predict that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th were issued a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date was Friday, November 29th. Perrigo’s dividend payout ratio is currently -94.02%.

Insiders Place Their Bets

In other news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo stock in a transaction on Monday, December 9th. The stock was sold at an average price of $28.27, for a total value of $497,495.46. Following the transaction, the director now owns 5,409 shares in the company, valued at approximately $152,912.43. This trade represents a 76.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Perrigo

Several hedge funds have recently added to or reduced their stakes in PRGO. Texas Permanent School Fund Corp lifted its stake in shares of Perrigo by 1.2% in the 2nd quarter. Texas Permanent School Fund Corp now owns 119,298 shares of the company’s stock valued at $3,064,000 after purchasing an additional 1,357 shares during the period. American Century Companies Inc. boosted its holdings in shares of Perrigo by 13.7% during the 2nd quarter. American Century Companies Inc. now owns 24,334 shares of the company’s stock worth $625,000 after buying an additional 2,929 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Perrigo by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,162,656 shares of the company’s stock worth $183,935,000 after buying an additional 249,640 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Perrigo by 4.2% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 301,570 shares of the company’s stock valued at $7,744,000 after acquiring an additional 12,254 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in Perrigo by 3.3% during the second quarter. Amalgamated Bank now owns 85,350 shares of the company’s stock worth $2,192,000 after acquiring an additional 2,752 shares in the last quarter. 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.