Jefferies Financial Group Reiterates Hold Rating for Perrigo (NYSE:PRGO)

Jefferies Financial Group reiterated their hold rating on shares of Perrigo (NYSE:PRGO) in a research report released on Monday morning, Marketbeat reports. Jefferies Financial Group currently has a $30.00 target price on the stock, down from their previous target price of $50.00.

Other equities research analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Perrigo from a hold rating to a buy rating in a report on Monday, August 5th. Piper Sandler lowered their price objective on Perrigo from $36.00 to $35.00 and set an overweight rating on the stock in a report on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Perrigo presently has a consensus rating of Moderate Buy and an average price target of $37.00.

Perrigo Stock Up 0.3 %

PRGO opened at $25.63 on Monday. The company has a market capitalization of $3.50 billion, a PE ratio of -366.07 and a beta of 0.49. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.99 and a quick ratio of 1.24. Perrigo has a fifty-two week low of $24.82 and a fifty-two week high of $34.60. The business has a 50-day moving average of $27.83 and a 200-day moving average of $28.72.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.07. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.13 billion. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The company’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 earnings per share. Equities research analysts forecast that Perrigo will post 2.57 EPS for the current fiscal year.

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were issued a $0.276 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.10 annualized dividend and a yield of 4.31%. Perrigo’s dividend payout ratio (DPR) is presently -1,571.43%.

Insider Buying and Selling at Perrigo

In other news, EVP Svend Andersen sold 28,300 shares of Perrigo stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total value of $785,325.00. Following the transaction, the executive vice president now directly owns 73,553 shares in the company, valued at $2,041,095.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Perrigo news, EVP Svend Andersen sold 28,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total value of $785,325.00. Following the sale, the executive vice president now owns 73,553 shares of the company’s stock, valued at approximately $2,041,095.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Katherine C. Doyle sold 8,954 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 of the company’s stock, valued at $164,045.70. The disclosure for this sale can be found here. Insiders sold 50,254 shares of company stock worth $1,411,969 over the last ninety days. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Central Pacific Bank Trust Division bought a new stake in shares of Perrigo in the first quarter valued at about $48,000. Parallel Advisors LLC lifted its position in shares of Perrigo by 69.1% in the 4th quarter. Parallel Advisors LLC now owns 2,009 shares of the company’s stock worth $65,000 after acquiring an additional 821 shares during the period. Beach Investment Counsel Inc. PA bought a new stake in shares of Perrigo in the 2nd quarter worth approximately $72,000. TFC Financial Management Inc. increased its position in shares of Perrigo by 39.7% during the first quarter. TFC Financial Management Inc. now owns 2,462 shares of the company’s stock valued at $79,000 after purchasing an additional 700 shares during the period. Finally, Voisard Asset Management Group Inc. increased its position in shares of Perrigo by 520.0% during the second quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock valued at $119,000 after purchasing an additional 3,900 shares during the period. Institutional investors 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.