Perrigo (NYSE:PRGO) Cut to "Hold" at Wall Street Zen

Key Points

• Perrigo's stock rating has been downgraded from "buy" to "hold" by Wall Street Zen, signaling a shift in analysts' outlook on the company.
• The company reported $0.60 earnings per share for the last quarter, exceeding estimates but with a 3.5% decline in year-over-year revenue.
• Institutional investors control 95.91% of Perrigo's stock, indicating significant institutional confidence despite recent performance challenges.

Perrigo (NYSE:PRGO - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

Perrigo Price Performance

NYSE:PRGO traded down $0.06 during trading hours on Friday, reaching $28.08. 709,858 shares of the company's stock were exchanged, compared to its average volume of 849,362. The company has a market capitalization of $3.86 billion, a P/E ratio of -21.43 and a beta of 0.45. Perrigo has a 12 month low of $23.14 and a 12 month high of $30.93. The company has a quick ratio of 1.28, a current ratio of 2.36 and a debt-to-equity ratio of 0.82. The business's 50-day simple moving average is $26.98 and its two-hundred day simple moving average is $26.26.

Perrigo (NYSE:PRGO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.09 billion. Perrigo had a negative net margin of 4.16% and a positive return on equity of 8.93%. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. Sell-side analysts expect that Perrigo will post 2.56 EPS for the current fiscal year.

Institutional Trading of Perrigo

A number of hedge funds have recently modified their holdings of PRGO. Price T Rowe Associates Inc. MD lifted its position in Perrigo by 41.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,073,026 shares of the company's stock worth $310,488,000 after buying an additional 3,227,487 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Perrigo by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,135,741 shares of the company's stock worth $200,085,000 after buying an additional 146,211 shares in the last quarter. Deprince Race & Zollo Inc. lifted its position in Perrigo by 1.1% in the 4th quarter. Deprince Race & Zollo Inc. now owns 4,557,844 shares of the company's stock worth $117,182,000 after buying an additional 50,728 shares in the last quarter. Sound Shore Management Inc. CT lifted its position in Perrigo by 23.1% in the 1st quarter. Sound Shore Management Inc. CT now owns 3,285,167 shares of the company's stock worth $92,116,000 after buying an additional 616,387 shares in the last quarter. Finally, Ion Asset Management Ltd. lifted its position in Perrigo by 0.5% in the 1st quarter. Ion Asset Management Ltd. now owns 2,833,894 shares of the company's stock worth $79,462,000 after buying an additional 13,894 shares in the last quarter. Hedge funds and other 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.