Perrigo (NYSE:PRGO) Upgraded to “Buy” at Wall Street Zen

Perrigo (NYSE:PRGO) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Perrigo Stock Performance

Shares of NYSE PRGO opened at $26.52 on Friday. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average is $26.19 and its two-hundred day moving average is $26.19. The company has a market cap of $3.65 billion, a P/E ratio of -22.67 and a beta of 0.45. Perrigo has a 12 month low of $23.14 and a 12 month high of $30.93.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.09 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.29 EPS. On average, equities analysts expect that Perrigo will post 2.56 EPS for the current year.

Insider Activity

In other news, EVP Ronald Craig Janish sold 7,800 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $27.44, for a total transaction of $214,032.00. Following the sale, the executive vice president now directly owns 33,666 shares in the company, valued at approximately $923,795.04. The trade was a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.70% of the stock is currently owned by company insiders.

Institutional Trading of Perrigo

Institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. boosted its stake in Perrigo by 439.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock valued at $27,000 after buying an additional 786 shares in the last quarter. Headlands Technologies LLC boosted its stake in Perrigo by 1,942.0% in the 4th quarter. Headlands Technologies LLC now owns 1,409 shares of the company’s stock valued at $36,000 after buying an additional 1,340 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in Perrigo in the 1st quarter valued at $42,000. Parallel Advisors LLC boosted its stake in Perrigo by 176.9% in the 1st quarter. Parallel Advisors LLC now owns 1,714 shares of the company’s stock valued at $48,000 after buying an additional 1,095 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Perrigo by 138.3% in the 1st quarter. First Horizon Advisors Inc. now owns 1,754 shares of the company’s stock valued at $49,000 after buying an additional 1,018 shares in the last quarter. 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.