Perrigo (NYSE:PRGO) Stock Gets Downgrade from Zacks Research

Perrigo (NYSE:PRGO) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday, Zacks reports.

Several other equities research analysts have also recently issued reports on PRGO. Wall Street Zen cut Perrigo from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings raised Perrigo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $17.50.

Perrigo Stock Performance

Shares of NYSE PRGO opened at $15.78 on Thursday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.32 and a current ratio of 2.32. The company has a market cap of $2.19 billion, a P/E ratio of -1.26, a P/E/G ratio of 1.83 and a beta of 0.69. The firm’s fifty day moving average is $14.83 and its two-hundred day moving average is $12.48. Perrigo has a 52-week low of $9.23 and a 52-week high of $21.01.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRGO. Sound Income Strategies LLC increased its stake in Perrigo by 3.9% during the third quarter. Sound Income Strategies LLC now owns 1,615,467 shares of the company’s stock worth $23,424,000 after acquiring an additional 60,838 shares during the last quarter. Bank of America Corp DE raised its position in Perrigo by 25.5% during the first quarter. Bank of America Corp DE now owns 1,568,598 shares of the company’s stock valued at $16,847,000 after purchasing an additional 318,248 shares during the period. First Trust Advisors LP raised its position in Perrigo by 125.5% during the first quarter. First Trust Advisors LP now owns 1,496,244 shares of the company’s stock valued at $16,070,000 after purchasing an additional 832,686 shares during the period. Gamco Investors INC. ET AL lifted 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 valued at $15,013,000 after purchasing an additional 320,081 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Perrigo by 51.7% in the 3rd quarter. ProShare Advisors LLC now owns 959,053 shares of the company’s stock valued at $14,156,000 after purchasing an additional 326,797 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Company Profile

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.