Perrigo (NYSE:PRGO) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Perrigo (NYSE:PRGOFree Report) from a hold rating to a buy rating in a research note published on Tuesday.

Separately, Piper Sandler began coverage on Perrigo in a research note on Friday, November 17th. They set an overweight rating and a $37.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Perrigo has an average rating of Buy and a consensus target price of $44.25.

Check Out Our Latest Analysis on PRGO

Perrigo Price Performance

NYSE PRGO opened at $31.88 on Tuesday. The stock has a 50-day moving average of $32.00 and a 200 day moving average of $32.50. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of 637.73 and a beta of 0.67. Perrigo has a one year low of $26.81 and a one year high of $40.28. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.60 and a current ratio of 2.74.

Perrigo (NYSE:PRGOGet Free Report) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.20 billion. Perrigo had a return on equity of 6.98% and a net margin of 0.15%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 EPS. On average, sell-side analysts forecast that Perrigo will post 2.55 EPS for the current year.

Insider Activity

In other Perrigo news, EVP Robert Willis acquired 5,550 shares of the business’s stock in a transaction on Friday, November 24th. The shares were bought at an average price of $31.01 per share, with a total value of $172,105.50. Following the transaction, the executive vice president now directly owns 19,105 shares of the company’s stock, valued at approximately $592,446.05. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Robert Willis acquired 5,550 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The stock was purchased at an average cost of $31.01 per share, for a total transaction of $172,105.50. Following the purchase, the executive vice president now directly owns 19,105 shares of the company’s stock, valued at approximately $592,446.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alison Ives acquired 2,040 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were bought at an average price of $29.34 per share, with a total value of $59,853.60. Following the completion of the purchase, the executive vice president now directly owns 10,380 shares in the company, valued at $304,549.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 23,590 shares of company stock valued at $696,749. 0.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in Perrigo in the fourth quarter valued at approximately $30,000. Dark Forest Capital Management LP acquired a new position in Perrigo during the 1st quarter worth $31,000. Parkside Financial Bank & Trust grew its stake in Perrigo by 1,694.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company’s stock worth $34,000 after purchasing an additional 983 shares in the last quarter. Hexagon Capital Partners LLC acquired a new position in shares of Perrigo during the 4th quarter worth about $37,000. Finally, Ronald Blue Trust Inc. lifted its holdings in shares of Perrigo by 132.3% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,157 shares of the company’s stock valued at $39,000 after purchasing an additional 659 shares during the last quarter. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Perrigo Company Profile

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Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in Ireland, the United States, France, Belgium, China, the United Kingdom, Germany, Switzerland, Austria, Italy, Australia, Greece, and Spain. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments.

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