Perrigo Company plc (NYSE:PRGO) Receives $20.33 Consensus Price Target from Analysts

Shares of Perrigo Company plc (NYSE:PRGO) have been given a consensus recommendation of “Reduce” by the six research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $20.3333.

PRGO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on Perrigo from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, December 15th. Wall Street Zen cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research lowered shares of Perrigo from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Perrigo in a research report on Monday, December 22nd. Finally, Canaccord Genuity Group cut their target price on Perrigo from $40.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th.

Insider Activity

In other news, Director Geoffrey M. Parker bought 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were purchased at an average price of $14.18 per share, with a total value of $106,350.00. Following the purchase, the director owned 17,375 shares in the company, valued at approximately $246,377.50. The trade was a 75.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Perrigo

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Perrigo by 7.9% during the 4th quarter. Vanguard Group Inc. now owns 14,983,369 shares of the company’s stock worth $208,568,000 after buying an additional 1,101,154 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Perrigo by 2.4% in the third quarter. Dimensional Fund Advisors LP now owns 7,695,238 shares of the company’s stock worth $171,367,000 after acquiring an additional 181,828 shares in the last quarter. State Street Corp grew its stake in shares of Perrigo by 9.5% in the second quarter. State Street Corp now owns 7,340,323 shares of the company’s stock worth $196,134,000 after acquiring an additional 637,678 shares in the last quarter. Ion Asset Management Ltd. increased its position in shares of Perrigo by 34.7% during the second quarter. Ion Asset Management Ltd. now owns 3,817,621 shares of the company’s stock worth $102,007,000 after acquiring an additional 983,727 shares during the period. Finally, Cooke & Bieler LP raised its stake in shares of Perrigo by 11.6% in the third quarter. Cooke & Bieler LP now owns 3,680,411 shares of the company’s stock valued at $81,963,000 after acquiring an additional 381,290 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Price Performance

Shares of PRGO stock opened at $14.66 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.51 and a quick ratio of 1.44. The company has a market capitalization of $2.02 billion, a PE ratio of -38.58, a price-to-earnings-growth ratio of 1.32 and a beta of 0.39. The firm’s 50-day moving average is $14.08 and its two-hundred day moving average is $18.66. Perrigo has a 12 month low of $12.17 and a 12 month high of $30.93.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. Perrigo had a negative net margin of 1.21% and a positive return on equity of 9.16%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm earned $0.81 EPS. The business’s revenue was down 4.1% compared to the same quarter last year. Analysts predict that Perrigo will post 2.56 earnings per share for the current year.

Perrigo Company Profile

Perrigo Company plc is a global healthcare supplier specializing in over-the-counter (OTC) and self-care products, as well as generic prescription pharmaceuticals and active pharmaceutical ingredients. The company develops, manufactures and distributes a broad array of consumer health products, including analgesics, vitamins and supplements, digestive health remedies, topical treatments, and infant formulas. Perrigo’s focus on private-label solutions has made it a leading partner for retailers and pharmacy chains seeking high-quality, value-oriented alternatives to branded medications and health supplements.

Organized across three principal business segments—Consumer Healthcare, Prescription Pharmaceuticals and Active Pharmaceutical Ingredients—Perrigo’s operations span research and development, manufacturing, quality assurance and global distribution.