Perrigo (NYSE:PRGO) Given Hold Rating at Jefferies Financial Group

Perrigo (NYSE:PRGO)‘s stock had its “hold” rating reaffirmed by equities researchers at Jefferies Financial Group in a research report issued on Monday, Benzinga reports. They presently have a $30.00 price objective on the stock, down from their prior price objective of $50.00. Jefferies Financial Group’s price target would indicate a potential upside of 10.82% from the company’s previous close.

PRGO has been the subject of a number of other research reports. Piper Sandler lowered their target price on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Perrigo Price Performance

Shares of Perrigo stock traded down $0.06 during trading on Monday, reaching $27.07. 895,238 shares of the company’s stock were exchanged, compared to its average volume of 1,619,228. The company has a market cap of $3.69 billion, a P/E ratio of -386.57 and a beta of 0.49. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.99. Perrigo has a 1-year low of $24.82 and a 1-year high of $34.60. The firm’s 50-day moving average price is $27.92 and its 200 day moving average price is $28.81.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company earned $0.63 EPS. The firm’s quarterly revenue was down 10.7% compared to the same quarter last year. As a group, research analysts anticipate that Perrigo will post 2.57 earnings per share for the current year.

Insider Buying and Selling at Perrigo

In other news, Director Katherine C. Doyle sold 8,954 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the transaction, the director now owns 6,009 shares in the company, valued at approximately $164,045.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Perrigo news, EVP Ronald Craig Janish sold 13,000 shares of Perrigo stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the completion of the sale, the executive vice president now directly owns 20,553 shares in the company, valued at $604,258.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Katherine C. Doyle sold 8,954 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the transaction, the director now directly owns 6,009 shares in the company, valued at $164,045.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,254 shares of company stock valued at $1,411,969. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. M&R Capital Management Inc. increased its stake in Perrigo by 3.0% in the first quarter. M&R Capital Management Inc. now owns 14,717 shares of the company’s stock valued at $474,000 after purchasing an additional 434 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in Perrigo by 0.3% in the first quarter. Retirement Systems of Alabama now owns 170,162 shares of the company’s stock worth $5,478,000 after acquiring an additional 447 shares in the last quarter. Ridgewood Investments LLC grew its stake in Perrigo by 1.3% in the first quarter. Ridgewood Investments LLC now owns 35,140 shares of the company’s stock valued at $1,131,000 after acquiring an additional 451 shares during the period. Park Avenue Securities LLC increased its holdings in shares of Perrigo by 4.3% during the first quarter. Park Avenue Securities LLC now owns 11,330 shares of the company’s stock valued at $365,000 after acquiring an additional 465 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Perrigo by 1.9% during the second quarter. Arizona State Retirement System now owns 37,939 shares of the company’s stock worth $974,000 after purchasing an additional 699 shares during the period. Institutional investors and hedge funds 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.