Perrigo (NYSE:PRGO) Stock Price Up 3.9% – Here’s What Happened

by · The Cerbat Gem

Perrigo Company plc (NYSE:PRGO – Get Free Report)’s stock price shot up 3.9% on Monday . The stock traded as high as $13.79 and last traded at $13.8730. 294,299 shares traded hands during trading, a decline of 84% from the average session volume of 1,805,110 shares. The stock had previously closed at $13.35.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group reduced their price target on Perrigo from $40.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Jefferies Financial Group lowered their target price 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. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $20.00 price objective (down previously from $32.00) on shares of Perrigo in a report on Thursday, November 6th. Wall Street Zen lowered shares of Perrigo from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Perrigo in a research report on Tuesday, November 25th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $22.50.

Check Out Our Latest Research Report on PRGO

Perrigo Stock Performance

The business has a fifty day moving average of $18.66 and a 200 day moving average of $23.10. The company has a quick ratio of 1.24, a current ratio of 2.32 and a debt-to-equity ratio of 0.81. The company has a market cap of $1.92 billion, a P/E ratio of -24.11 and a beta of 0.42.

Perrigo (NYSE:PRGO – Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.05. Perrigo had a positive return on equity of 9.09% and a negative net margin of 1.86%.The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. On average, equities analysts predict that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

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 paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 8.3%. The ex-dividend date is Friday, November 28th. Perrigo’s dividend payout ratio (DPR) is currently -305.26%.

Insider Buying and Selling at Perrigo

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

Institutional Trading of Perrigo

Several institutional investors and hedge funds have recently made changes to their positions in PRGO. Access Investment Management LLC acquired a new stake in shares of Perrigo during the 2nd quarter worth $8,931,000. Jefferies Financial Group Inc. purchased a new position in Perrigo in the 1st quarter valued at about $365,000. TD Asset Management Inc purchased a new stake in shares of Perrigo during the second quarter worth about $965,000. Vise Technologies Inc. purchased a new position in Perrigo in the second quarter valued at about $803,000. Finally, Royal Bank of Canada grew its stake in Perrigo by 21.5% during the 1st quarter. Royal Bank of Canada now owns 414,232 shares of the company’s stock valued at $11,615,000 after purchasing an additional 73,264 shares in the last quarter. 95.91% of the stock is currently owned by institutional investors.

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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