Perrigo (NYSE:PRGO) Trading 8.5% Higher – Time to Buy?

Shares of Perrigo Company plc (NYSE:PRGO) traded up 8.5% during mid-day trading on Monday . The company traded as high as $11.30 and last traded at $11.75. 224,155 shares changed hands during trading, a decline of 92% from the average session volume of 2,945,974 shares. The stock had previously closed at $10.83.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PRGO shares. Zacks Research upgraded Perrigo from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Jefferies Financial Group restated a “hold” rating on shares of Perrigo in a research note on Thursday, February 26th. Weiss Ratings downgraded Perrigo from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 28th. Finally, Canaccord Genuity Group cut their target price on Perrigo from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.33.

Perrigo Price Performance

The business has a 50 day moving average price of $11.15 and a two-hundred day moving average price of $12.48. The stock has a market cap of $1.54 billion, a PE ratio of -0.85, a P/E/G ratio of 1.37 and a beta of 0.51. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.59 and a current ratio of 2.72.

Perrigo (NYSE:PRGO) last announced its earnings results on Wednesday, May 6th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. Perrigo had a positive return on equity of 9.96% and a negative net margin of 43.50%.The firm had revenue of $841.80 million for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the business earned $0.60 EPS. The company’s revenue was down 7.2% compared to the same quarter last year. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. Research analysts expect that Perrigo Company plc will post 2.12 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Friday, May 29th will be paid a $0.29 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.16 annualized dividend and a yield of 10.4%. Perrigo’s dividend payout ratio is presently -8.85%.

Hedge Funds Weigh In On Perrigo

Several institutional investors have recently bought and sold shares of PRGO. EverSource Wealth Advisors LLC lifted its stake in Perrigo by 116.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,888 shares of the company’s stock valued at $26,000 after purchasing an additional 1,014 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Perrigo by 439.1% in the first quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock valued at $27,000 after purchasing an additional 786 shares during the last quarter. UMB Bank n.a. lifted its stake in Perrigo by 161.5% in the fourth quarter. UMB Bank n.a. now owns 1,964 shares of the company’s stock valued at $27,000 after purchasing an additional 1,213 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Perrigo in the fourth quarter valued at approximately $28,000. Finally, CWM LLC lifted its stake in Perrigo by 230.0% in the fourth quarter. CWM LLC now owns 2,191 shares of the company’s stock valued at $31,000 after purchasing an additional 1,527 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

About Perrigo

Perrigo Company plc is a global healthcare supplier specializing in over-the-counter (OTC) and self-care products, as well as generic prescription pharmaceuticals and active pharmaceutical ingredients. The company develops, manufactures and distributes a broad array of consumer health products, including analgesics, vitamins and supplements, digestive health remedies, topical treatments, and infant formulas. Perrigo’s focus on private-label solutions has made it a leading partner for retailers and pharmacy chains seeking high-quality, value-oriented alternatives to branded medications and health supplements.

Organized across three principal business segments—Consumer Healthcare, Prescription Pharmaceuticals and Active Pharmaceutical Ingredients—Perrigo’s operations span research and development, manufacturing, quality assurance and global distribution.