Perrigo (NYSE:PRGO) Rating Increased to Buy at Wall Street Zen

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

Perrigo Trading Up 1.6%

Shares of Perrigo stock traded up $0.42 during trading on Friday, hitting $27.16. The company's stock had a trading volume of 986,458 shares, compared to its average volume of 1,448,806. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of -20.73 and a beta of 0.45. Perrigo has a 52 week low of $23.14 and a 52 week high of $30.93. The stock has a 50-day moving average price of $26.60 and a two-hundred day moving average price of $26.04. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.36 and a quick ratio of 1.28.

Perrigo (NYSE:PRGO - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.04. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.09 billion. Perrigo had a positive return on equity of 8.93% and a negative net margin of 4.16%. The business's revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 EPS. Equities research analysts anticipate that Perrigo will post 2.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Perrigo

A number of hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Perrigo by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,048,005 shares of the company's stock valued at $26,944,000 after acquiring an additional 13,835 shares during the last quarter. Beach Investment Counsel Inc. PA bought a new stake in shares of Perrigo during the 1st quarter valued at about $1,526,000. GAMMA Investing LLC boosted its position in shares of Perrigo by 91.9% during the 1st quarter. GAMMA Investing LLC now owns 3,685 shares of the company's stock valued at $103,000 after purchasing an additional 1,765 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Perrigo by 4.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,142,407 shares of the company's stock worth $31,645,000 after purchasing an additional 50,009 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Perrigo in the fourth quarter worth approximately $3,177,000. Institutional investors own 95.91% of the company's stock.

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.