Perrigo (NYSE:PRGO) Rating Increased to Buy at Wall Street Zen

Perrigo (NYSE:PRGO) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other brokerages also recently commented on PRGO. Canaccord Genuity Group set a $40.00 target price on Perrigo and gave the company a “buy” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. dropped their price target on Perrigo from $38.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Perrigo has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Perrigo Stock Down 1.3%

PRGO stock opened at $22.73 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 2.32. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -39.19 and a beta of 0.47. The business’s 50 day moving average price is $26.42 and its two-hundred day moving average price is $26.26. Perrigo has a fifty-two week low of $21.03 and a fifty-two week high of $30.93.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.02). The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Perrigo had a positive return on equity of 9.09% and a negative net margin of 1.86%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 EPS. As a group, analysts forecast that Perrigo will post 2.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perrigo

Institutional investors and hedge funds have recently bought and sold shares of the business. Diamond Hill Capital Management Inc. raised its holdings in Perrigo by 0.6% during the first quarter. Diamond Hill Capital Management Inc. now owns 1,894,739 shares of the company’s stock valued at $53,128,000 after acquiring an additional 11,256 shares during the period. Principal Financial Group Inc. raised its holdings in Perrigo by 0.3% during the first quarter. Principal Financial Group Inc. now owns 313,849 shares of the company’s stock valued at $8,800,000 after acquiring an additional 914 shares during the period. D.A. Davidson & CO. bought a new stake in Perrigo during the first quarter valued at about $1,619,000. GAMMA Investing LLC increased its holdings in shares of Perrigo by 91.9% in the first quarter. GAMMA Investing LLC now owns 3,685 shares of the company’s stock worth $103,000 after purchasing an additional 1,765 shares during the last quarter. Finally, Beach Investment Counsel Inc. PA bought a new stake in shares of Perrigo in the first quarter worth about $1,526,000. 95.91% of the stock is owned by institutional investors.

Perrigo Company Profile

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.