Perrigo (NYSE:PRGO) Upgraded to "Buy" by StockNews.com

Perrigo (NYSE:PRGO - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Wednesday.

Separately, JPMorgan Chase & Co. dropped their price target on shares of Perrigo from $48.00 to $41.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 28th.

Perrigo Stock Performance

Shares of Perrigo stock traded down $0.29 during midday trading on Wednesday, hitting $31.03. The company had a trading volume of 1,457,419 shares, compared to its average volume of 1,981,866. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of -310.30 and a beta of 0.64. The company has a quick ratio of 1.07, a current ratio of 1.79 and a debt-to-equity ratio of 0.76. The company has a fifty day simple moving average of $30.99 and a 200 day simple moving average of $30.89. Perrigo has a 12-month low of $25.77 and a 12-month high of $40.28.

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, topping 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 analyst estimates of $1.17 billion. During the same period last year, the firm posted $0.75 EPS. Perrigo's revenue for the quarter was up .1% compared to the same quarter last year. As a group, analysts predict that Perrigo will post 2.55 earnings per share for the current fiscal year.

Insider Activity at Perrigo

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

Institutional Trading of Perrigo

A number of large investors have recently made changes to their positions in PRGO. GAMMA Investing LLC purchased a new position in Perrigo in the fourth quarter valued at approximately $30,000. Dark Forest Capital Management LP purchased a new position in Perrigo in the first quarter valued at approximately $31,000. Parkside Financial Bank & Trust increased its stake in Perrigo by 1,694.8% in 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 purchased a new position in Perrigo in the fourth quarter valued at approximately $37,000. Finally, Ronald Blue Trust Inc. increased its stake in Perrigo by 132.3% in 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. 95.91% of the stock is currently owned by hedge funds and other 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.

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