Perrigo (NYSE:PRGO) Stock Rating Upgraded by Wall Street Zen

Key Points

• Perrigo's stock rating has been upgraded from "hold" to "buy" by Wall Street Zen, reflecting positive sentiment around the company's performance.
• The consensus target price for Perrigo is currently set at $33.00, with a mix of ratings from various brokerages, including three "hold" and three "buy" ratings.
• After reporting earnings that missed estimates, Perrigo's stock fell 1.3%, closing at $22.73 as of the last trading session.

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

A number of other research firms have also recently commented on PRGO. JPMorgan Chase & Co. reduced their target price 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. Canaccord Genuity Group reduced their target price 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. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $33.00.

Perrigo Trading Up 0.4%

PRGO stock traded up $0.0850 during midday trading on Friday, reaching $23.6850. 1,169,907 shares of the company's stock traded hands, compared to its average volume of 1,901,440. The business has a 50-day moving average price of $26.20 and a two-hundred day moving average price of $26.24. Perrigo has a fifty-two week low of $21.03 and a fifty-two week high of $30.93. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24. The company has a market capitalization of $3.26 billion, a P/E ratio of -40.84 and a beta of 0.47.

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

Insider Buying and Selling at Perrigo

In related news, Director Geoffrey M. Parker purchased 4,375 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average cost of $22.97 per share, with a total value of $100,493.75. Following the completion of the acquisition, the director directly owned 33,287 shares of the company's stock, valued at approximately $764,602.39. The trade was a 15.13% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Eduardo Guarita Bezerra purchased 3,000 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average cost of $22.74 per share, for a total transaction of $68,220.00. Following the completion of the acquisition, the chief financial officer directly owned 48,949 shares of the company's stock, valued at $1,113,100.26. This represents a 6.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.70% of the company's stock.

Institutional Trading of Perrigo

Institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. increased its stake in Perrigo by 439.1% during the first quarter. Geneos Wealth Management Inc. now owns 965 shares of the company's stock valued at $27,000 after purchasing an additional 786 shares during the last quarter. Huntington National Bank increased its stake in Perrigo by 237.8% during the second quarter. Huntington National Bank now owns 1,054 shares of the company's stock valued at $28,000 after purchasing an additional 742 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Perrigo by 54.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the company's stock valued at $32,000 after purchasing an additional 424 shares during the last quarter. Hantz Financial Services Inc. increased its stake in Perrigo by 101.0% during the second quarter. Hantz Financial Services Inc. now owns 1,234 shares of the company's stock valued at $33,000 after purchasing an additional 620 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in Perrigo during the first quarter valued at $42,000. 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.