Piper Sandler Raises Perrigo (NYSE:PRGO) Price Target to $39.00

Perrigo (NYSE:PRGO - Free Report) had its price target upped by Piper Sandler from $35.00 to $39.00 in a report published on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. cut their price objective on Perrigo from $48.00 to $41.00 and set an overweight rating for the company in a research report on Wednesday, February 28th. StockNews.com raised shares of Perrigo from a hold rating to a buy rating in a research note on Wednesday, April 3rd.

Perrigo Stock Up 1.1 %

NYSE:PRGO traded up $0.35 during trading hours on Monday, hitting $31.75. The company's stock had a trading volume of 1,330,374 shares, compared to its average volume of 1,955,853. The stock has a fifty day moving average of $30.88 and a 200-day moving average of $30.83. The stock has a market capitalization of $4.30 billion, a P/E ratio of -317.50 and a beta of 0.64. Perrigo has a 52-week low of $25.77 and a 52-week high of $40.28. The company has a current ratio of 1.79, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.03. Perrigo had a negative net margin of 0.27% and a positive return on equity of 7.34%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the firm earned $0.75 EPS. The company's revenue for the quarter was up .1% on a year-over-year basis. On average, equities analysts forecast that Perrigo will post 2.55 earnings per share for the current year.

Perrigo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 8th were paid a dividend of $0.276 per share. The ex-dividend date was Thursday, March 7th. This is a boost from Perrigo's previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a dividend yield of 3.48%. Perrigo's payout ratio is currently -1,100.00%.

Insider Activity at Perrigo

In other news, EVP Alison Ives acquired 2,490 shares of the business's stock in a transaction on Tuesday, March 5th. The shares were purchased at an average price of $27.26 per share, for a total transaction of $67,877.40. Following the acquisition, the executive vice president now directly owns 16,122 shares of the company's stock, valued at approximately $439,485.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Robert Willis bought 6,000 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was purchased at an average price of $25.87 per share, for a total transaction of $155,220.00. Following the transaction, the executive vice president now owns 25,105 shares in the company, valued at $649,466.35. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alison Ives bought 2,490 shares of the firm's stock in a transaction on Tuesday, March 5th. The stock was purchased at an average price of $27.26 per share, with a total value of $67,877.40. Following the transaction, the executive vice president now owns 16,122 shares in the company, valued at approximately $439,485.72. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 17,990 shares of company stock worth $475,227. 0.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PRGO. GAMMA Investing LLC bought a new position in shares of Perrigo in the fourth quarter valued at approximately $30,000. Dark Forest Capital Management LP acquired a new stake in Perrigo during the first quarter valued at approximately $31,000. Parkside Financial Bank & Trust lifted its stake in Perrigo by 1,694.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company's stock valued at $34,000 after purchasing an additional 983 shares during the last quarter. Hexagon Capital Partners LLC acquired a new stake in Perrigo during the fourth quarter valued at approximately $37,000. Finally, Ronald Blue Trust Inc. lifted its stake in Perrigo by 132.3% during the third quarter. Ronald Blue Trust Inc. now owns 1,157 shares of the company's stock valued at $39,000 after purchasing an additional 659 shares during the last quarter. Institutional investors own 95.91% of the company's stock.

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.