Perrigo Company plc (NYSE:PRGO) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Perrigo Company plc has received an average consensus recommendation of "Hold" from five research firms, with one sell and two buy ratings among analysts.
• The company's stock price target has been set at an average of $34.00, reflecting a recent drop in buy objectives by some analysts.
• Perrigo recently announced a quarterly dividend of $0.29, providing investors with a 5.2% dividend yield, despite a negative dividend payout ratio.

Perrigo Company plc (NYSE:PRGO - Get Free Report) has earned a consensus recommendation of "Hold" from the five research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $34.00.

A number of research firms have weighed in on PRGO. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Perrigo in a report on Saturday, September 27th. Canaccord Genuity Group dropped their price objective on shares of Perrigo from $42.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Wall Street Zen raised shares of Perrigo from a "hold" rating to a "buy" rating in a research report on Sunday, September 28th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Perrigo from $38.00 to $35.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th.

Perrigo Price Performance

PRGO stock traded up $0.37 during trading on Friday, reaching $22.52. The company's stock had a trading volume of 1,600,430 shares, compared to its average volume of 2,025,198. The company's fifty day moving average is $23.26 and its 200-day moving average is $25.42. Perrigo has a 1 year low of $20.51 and a 1 year high of $30.93. The company has a market capitalization of $3.10 billion, a P/E ratio of -38.83 and a beta of 0.43. The company has a quick ratio of 1.24, a current ratio of 2.32 and a debt-to-equity ratio of 0.81.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.59 by ($0.02). The firm had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.08 billion. Perrigo had a positive return on equity of 9.09% and a negative net margin of 1.86%.The business's revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. On average, research analysts expect that Perrigo will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 29th were paid a $0.29 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.16 annualized dividend and a dividend yield of 5.2%. Perrigo's dividend payout ratio (DPR) is -200.00%.

Insider Buying and Selling at Perrigo

In related news, EVP Abigail Lennox purchased 1,255 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was purchased at an average price of $22.41 per share, with a total value of $28,124.55. Following the completion of the transaction, the executive vice president owned 1,255 shares of the company's stock, valued at approximately $28,124.55. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eduardo Guarita Bezerra acquired 3,000 shares of the firm's stock in a transaction on Monday, August 18th. The shares were acquired at an average price of $22.74 per share, with a total value of $68,220.00. Following the completion of the purchase, the chief financial officer owned 48,949 shares of the company's stock, valued at $1,113,100.26. This trade represents a 6.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 10,118 shares of company stock worth $232,699. 0.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its holdings in Perrigo by 439.1% in the first quarter. Geneos Wealth Management Inc. now owns 965 shares of the company's stock valued at $27,000 after acquiring an additional 786 shares in the last quarter. Huntington National Bank raised its holdings in Perrigo by 237.8% in the second quarter. Huntington National Bank now owns 1,054 shares of the company's stock valued at $28,000 after acquiring an additional 742 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Perrigo by 54.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the company's stock worth $32,000 after purchasing an additional 424 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of Perrigo by 101.0% during the second quarter. Hantz Financial Services Inc. now owns 1,234 shares of the company's stock worth $33,000 after purchasing an additional 620 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Perrigo during the first quarter worth $42,000. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

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.

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