Perrigo (NYSE:PRGO) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Perrigo (NYSE:PRGO) from a hold rating to a buy rating in a research report sent to investors on Monday morning.

A number of other analysts also recently weighed in on the stock. Piper Sandler downgraded shares of Perrigo from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $34.00 to $27.00 in a research report on Monday, January 6th. Argus cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Perrigo Stock Performance

Perrigo stock opened at $24.49 on Monday. The business has a 50 day moving average of $25.57 and a 200-day moving average of $26.46. Perrigo has a 1 year low of $23.14 and a 1 year high of $33.46. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The company has a market capitalization of $3.34 billion, a P/E ratio of -20.93 and a beta of 0.54.

Insider Activity

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $28.27, for a total value of $497,495.46. Following the transaction, the director now directly owns 5,409 shares in the company, valued at approximately $152,912.43. This trade represents a 76.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Perrigo

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in shares of Perrigo by 229.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company’s stock valued at $70,761,000 after purchasing an additional 1,878,145 shares in the last quarter. FMR LLC boosted its holdings in shares of Perrigo by 66,795.3% in the 3rd quarter. FMR LLC now owns 1,840,289 shares of the company’s stock valued at $48,271,000 after acquiring an additional 1,837,538 shares during the last quarter. Bahl & Gaynor Inc. boosted its holdings in shares of Perrigo by 44.9% in the 4th quarter. Bahl & Gaynor Inc. now owns 1,525,197 shares of the company’s stock valued at $39,213,000 after acquiring an additional 472,958 shares during the last quarter. Copeland Capital Management LLC lifted its stake in shares of Perrigo by 23.1% in the 3rd quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company’s stock valued at $65,117,000 after purchasing an additional 465,161 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Perrigo by 58.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,039,702 shares of the company’s stock worth $27,271,000 after acquiring an additional 383,728 shares during the period. 95.91% of the stock is owned by hedge funds and other institutional investors.

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.