Perrigo (NYSE:PRGO) Trading Down 4.4% – Here’s What Happened

by · The Markets Daily

Perrigo Company plc (NYSE:PRGO – Get Free Report)’s stock price fell 4.4% on Thursday . The stock traded as low as $13.40 and last traded at $13.3510. 803,231 shares were traded during mid-day trading, a decline of 56% from the average session volume of 1,837,832 shares. The stock had previously closed at $13.96.

Analysts Set New Price Targets

A number of research firms have recently commented on PRGO. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $20.00 price target (down previously from $32.00) on shares of Perrigo in a report on Thursday, November 6th. Zacks Research downgraded Perrigo from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Perrigo in a research note on Monday. Jefferies Financial Group reduced their price objective on shares of Perrigo from $27.00 to $23.00 and set a “hold” rating for the company in a research note on Monday, October 27th. Finally, Canaccord Genuity Group decreased their price target on Perrigo from $40.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Perrigo presently has an average rating of “Reduce” and an average price target of $22.50.

Read Our Latest Analysis on PRGO

Perrigo Stock Performance

The business’s fifty day moving average price is $18.22 and its two-hundred day moving average price is $22.86. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.44 and a current ratio of 2.51. The stock has a market capitalization of $1.85 billion, a P/E ratio of -35.30 and a beta of 0.39.

Perrigo (NYSE:PRGO – Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.05. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.10 billion. Perrigo had a positive return on equity of 9.16% and a negative net margin of 1.21%.Perrigo’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.81 EPS. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. As a group, sell-side analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 28th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.6%. Perrigo’s dividend payout ratio is presently -305.26%.

Insider Transactions at Perrigo

In related news, EVP Abigail Lennox bought 1,255 shares of the company’s stock in a transaction on Monday, September 8th. The shares were bought at an average price of $22.41 per share, with a total value of $28,124.55. Following the transaction, the executive vice president owned 1,255 shares in the company, valued at approximately $28,124.55. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Geoffrey M. Parker acquired 7,500 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were bought at an average cost of $14.18 per share, for a total transaction of $106,350.00. Following the completion of the acquisition, the director directly owned 17,375 shares of the company’s stock, valued at approximately $246,377.50. The trade was a 75.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.70% of the company’s stock.

Institutional Trading of Perrigo

Hedge funds have recently modified their holdings of the stock. Geneos Wealth Management Inc. grew its stake in Perrigo by 439.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock valued at $27,000 after acquiring an additional 786 shares in the last quarter. Huntington National Bank raised its stake in Perrigo by 237.8% in the second quarter. Huntington National Bank now owns 1,054 shares of the company’s stock valued at $28,000 after buying an additional 742 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Perrigo by 54.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the company’s stock worth $32,000 after buying an additional 424 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Perrigo by 101.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,234 shares of the company’s stock valued at $33,000 after acquiring an additional 620 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of Perrigo by 89.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,778 shares of the company’s stock worth $38,000 after acquiring an additional 838 shares in the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

About Perrigo

(Get Free Report)

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.

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