Perrigo (NYSE:PRGO) Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of Perrigo (NYSE:PRGO) from a buy rating to a hold rating in a report issued on Monday.

Separately, JPMorgan Chase & Co. boosted their price objective on Perrigo from $45.00 to $48.00 and gave the stock an overweight rating in a research report on Wednesday, August 9th.

Perrigo Stock Up 0.5 %

PRGO stock opened at $27.11 on Monday. The stock’s fifty day simple moving average is $32.43 and its two-hundred day simple moving average is $34.09. The company has a current ratio of 2.62, a quick ratio of 1.52 and a debt-to-equity ratio of 0.84. Perrigo has a 1-year low of $26.81 and a 1-year high of $40.65. The stock has a market cap of $3.67 billion, a P/E ratio of -64.55 and a beta of 0.82.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.09. Perrigo had a positive return on equity of 6.79% and a negative net margin of 1.22%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. Analysts expect that Perrigo will post 2.6 EPS for the current year.

Perrigo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Friday, September 1st were given a dividend of $0.273 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.03%. Perrigo’s dividend payout ratio is presently -259.52%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PRGO. Raymond James & Associates lifted its position in shares of Perrigo by 23.6% during the 1st quarter. Raymond James & Associates now owns 53,302 shares of the company’s stock valued at $2,048,000 after buying an additional 10,189 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Perrigo by 222.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,039 shares of the company’s stock worth $308,000 after purchasing an additional 5,547 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in Perrigo by 135.4% during the 1st quarter. Natixis Advisors L.P. now owns 24,726 shares of the company’s stock worth $950,000 after purchasing an additional 14,222 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Perrigo by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,027 shares of the company’s stock worth $1,884,000 after purchasing an additional 4,675 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Perrigo by 4.8% during the 1st quarter. BlackRock Inc. now owns 12,112,154 shares of the company’s stock worth $465,469,000 after purchasing an additional 554,915 shares in the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Perrigo Company Profile

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in Ireland, the United States, France, Belgium, China, the United Kingdom, Germany, Switzerland, Austria, Italy, Australia, Greece, and Spain. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments.