Brokerages Set Perrigo Company plc (NYSE:PRGO) Target Price at $22.50

Perrigo Company plc (NYSE:PRGO) has received a consensus rating of “Reduce” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $22.50.

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $20.00 price target (down from $32.00) on shares of Perrigo in a research note on Thursday, November 6th. Jefferies Financial Group decreased their target price on shares of Perrigo from $27.00 to $23.00 and set a “hold” rating on the stock in a research report on Monday, October 27th. Wall Street Zen cut shares of Perrigo from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Perrigo in a research note on Wednesday, November 19th. Finally, 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.

Perrigo Price Performance

Shares of NYSE PRGO opened at $12.74 on Friday. The firm has a market cap of $1.75 billion, a P/E ratio of -21.97 and a beta of 0.42. The business’s 50 day moving average is $19.30 and its 200-day moving average is $23.48. The company has a current ratio of 2.32, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Perrigo has a 1-year low of $12.17 and a 1-year high of $30.93.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.10 billion. Perrigo had a positive return on equity of 9.09% and a negative net margin of 1.86%.The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 EPS. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. Equities research analysts predict that Perrigo will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 28th will be given a $0.29 dividend. The ex-dividend date is Friday, November 28th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 9.1%. Perrigo’s dividend payout ratio (DPR) is presently -305.26%.

Insider Activity

In other news, EVP Abigail Lennox purchased 1,255 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was bought at an average price 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 approximately $28,124.55. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Geoffrey M. Parker acquired 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was purchased at an average cost of $14.18 per share, for a total transaction of $106,350.00. Following the completion of the purchase, the director directly owned 17,375 shares of the company’s stock, valued at $246,377.50. The trade was a 75.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Perrigo

Large investors have recently modified their holdings of the business. State of Michigan Retirement System increased its stake in shares of Perrigo by 1.2% in the 2nd quarter. State of Michigan Retirement System now owns 33,058 shares of the company’s stock valued at $883,000 after purchasing an additional 400 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Perrigo by 54.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the company’s stock valued at $32,000 after acquiring an additional 424 shares during the last quarter. Amundi raised its stake in Perrigo by 11.7% during the first quarter. Amundi now owns 5,292 shares of the company’s stock worth $148,000 after acquiring an additional 556 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Perrigo by 1.4% in the second quarter. Public Employees Retirement System of Ohio now owns 42,290 shares of the company’s stock worth $1,130,000 after acquiring an additional 564 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Perrigo by 1.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 57,625 shares of the company’s stock valued at $1,540,000 after purchasing an additional 570 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.