Perrigo (NYSE:PRGO) Stock Moved Down to Buy by Wall Street Zen

Key Points

• Wall Street Zen downgraded Perrigo from “strong buy” to “buy,” while the broader analyst consensus remains “Hold,” with a $19.33 price target.
• Perrigo reported quarterly EPS of $0.50, beating estimates of $0.39, while revenue matched expectations at $1.02 billion but declined 3.1% year over year.
• The stock opened at $15.43, above its 50-day and 200-day moving averages; institutional investors own approximately 95.91% of Perrigo’s shares.

Perrigo (NYSE:PRGO - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded Perrigo from a "sell (d-)" rating to a "sell (d)" rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $19.33.

Perrigo Price Performance

PRGO opened at $15.43 on Friday. The company has a 50 day moving average of $13.03 and a two-hundred day moving average of $11.51. The company has a market cap of $2.14 billion, a P/E ratio of -1.23, a P/E/G ratio of 1.77 and a beta of 0.59. Perrigo has a 52-week low of $9.23 and a 52-week high of $22.65. The company has a quick ratio of 1.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.31.

Perrigo (NYSE:PRGO - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.39 by $0.11. Perrigo had a positive return on equity of 11.25% and a negative net margin of 41.85%.The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter last year, the firm posted ($0.06) earnings per share. Perrigo's revenue was down 3.1% compared to the same quarter last year. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. On average, analysts expect that Perrigo will post 2.18 earnings per share for the current year.

Hedge Funds Weigh In On Perrigo

A number of institutional investors and hedge funds have recently bought and sold shares of PRGO. Norges Bank acquired a new stake in Perrigo in the 4th quarter worth $42,607,000. Thompson Siegel & Walmsley LLC lifted its stake in shares of Perrigo by 28.4% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 4,658,601 shares of the company's stock valued at $64,848,000 after buying an additional 1,029,770 shares during the period. First Trust Advisors LP grew its position in Perrigo by 125.5% during the first quarter. First Trust Advisors LP now owns 1,496,244 shares of the company's stock worth $16,070,000 after buying an additional 832,686 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Perrigo during the first quarter worth about $4,806,000. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new position in Perrigo during the second quarter valued at about $4,066,000. Institutional investors own 95.91% of the company's stock.

About Perrigo

Perrigo Company plc is a global consumer self-care company that develops, manufactures and markets over-the-counter (OTC) products and other nonprescription health and wellness products. Its portfolio spans consumer health categories including pain relief, allergy and cold remedies, digestive health, skin care, oral care, vitamins and supplements, and women's health.

The company sells products under both its own brands and retailer-owned store brands through pharmacies, supermarkets, mass merchants, e-commerce channels and other outlets.

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