Perrigo (NYSE:PRGO) Upgraded at Wall Street Zen

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

Several other analysts have also commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Perrigo in a report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price objective on Perrigo from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Finally, Canaccord Genuity Group dropped their price objective on Perrigo from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Perrigo has a consensus rating of “Hold” and an average price target of $31.25.

Perrigo Stock Down 1.5%

Perrigo stock opened at $21.61 on Friday. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -37.26 and a beta of 0.43. Perrigo has a 52 week low of $20.51 and a 52 week high of $30.93. The business’s 50-day moving average price is $22.19 and its 200 day moving average price is $24.78. The company has a quick ratio of 1.24, a current ratio of 2.32 and a debt-to-equity ratio of 0.81.

Perrigo (NYSE:PRGO) last posted its earnings results on Wednesday, August 6th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.02). Perrigo had a positive return on equity of 9.09% and a negative net margin of 1.86%.The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the business earned $0.53 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. As a group, sell-side analysts anticipate that Perrigo will post 2.56 earnings per share for the current year.

Insider Transactions at Perrigo

In other news, EVP Abigail Lennox bought 1,255 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were acquired at an average price of $22.41 per share, for a total transaction of $28,124.55. Following the completion of the transaction, the executive vice president directly owned 1,255 shares in the company, valued at $28,124.55. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Willis bought 1,488 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was purchased at an average price of $24.10 per share, for a total transaction of $35,860.80. Following the transaction, the executive vice president owned 41,939 shares of the company’s stock, valued at approximately $1,010,729.90. This represents a 3.68% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 10,118 shares of company stock worth $232,699. 0.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Perrigo

A number of institutional investors have recently added to or reduced their stakes in the stock. State of Michigan Retirement System lifted its position in Perrigo by 1.2% during the first 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 in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Perrigo by 54.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the company’s stock worth $32,000 after buying an additional 424 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Perrigo by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 15,984 shares of the company’s stock worth $448,000 after buying an additional 430 shares in the last quarter. Amundi lifted its position in Perrigo by 11.7% during the first quarter. Amundi now owns 5,292 shares of the company’s stock worth $148,000 after buying an additional 556 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in Perrigo by 1.4% during the second quarter. Public Employees Retirement System of Ohio now owns 42,290 shares of the company’s stock worth $1,130,000 after buying an additional 564 shares in the last quarter. Hedge funds and other institutional investors 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.