Perrigo Company plc (NYSE:PRGO) Receives $22.50 Consensus Target Price from Analysts

Shares of Perrigo Company plc (NYSE:PRGO) have been given a consensus rating of “Reduce” by the seven ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $22.50.

PRGO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $20.00 target price (down previously from $32.00) on shares of Perrigo in a research note on Thursday, November 6th. Jefferies Financial Group reduced their price target on shares of Perrigo from $27.00 to $23.00 and set a “hold” rating on the stock in a research note on Monday, October 27th. Wall Street Zen lowered shares of Perrigo from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Canaccord Genuity Group dropped their target price on shares of Perrigo from $40.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Perrigo in a research report on Tuesday.

Insiders Place Their Bets

In other news, Director Geoffrey M. Parker purchased 7,500 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were purchased at an average price of $14.18 per share, for a total transaction of $106,350.00. Following the completion of the purchase, the director owned 17,375 shares in the company, valued at approximately $246,377.50. This represents a 75.95% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Abigail Lennox acquired 1,255 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was acquired 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 owned 1,255 shares of the company’s stock, valued at $28,124.55. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Perrigo

Institutional investors have recently bought and sold shares of the business. Danske Bank A S bought a new position in Perrigo in the third quarter worth approximately $53,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Perrigo in the 3rd quarter valued at $286,000. Lombard Odier Asset Management USA Corp raised its position in shares of Perrigo by 25.7% in the 3rd quarter. Lombard Odier Asset Management USA Corp now owns 98,106 shares of the company’s stock worth $2,185,000 after acquiring an additional 20,040 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new stake in shares of Perrigo during the 3rd quarter worth $1,782,000. Finally, Crawford Investment Counsel Inc. boosted its position in Perrigo by 3.2% during the third quarter. Crawford Investment Counsel Inc. now owns 1,274,467 shares of the company’s stock valued at $28,382,000 after purchasing an additional 39,236 shares in the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Perrigo Stock Down 0.5%

Shares of NYSE PRGO opened at $13.35 on Friday. Perrigo has a 1 year low of $12.17 and a 1 year high of $30.93. The firm has a 50-day simple moving average of $18.66 and a two-hundred day simple moving average of $23.14. The company has a market cap of $1.84 billion, a P/E ratio of -23.02 and a beta of 0.42. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24.

Perrigo (NYSE:PRGO) last released its earnings results on Wednesday, November 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. Research analysts anticipate that Perrigo will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 28th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 8.7%. The ex-dividend date is Friday, November 28th. Perrigo’s dividend payout ratio is currently -305.26%.

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.