Perrigo (NYSE:PRGO) Upgraded by Wall Street Zen to "Buy" Rating

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 report released on Saturday.

Perrigo Stock Down 0.2%

Shares of PRGO stock opened at $27.20 on Friday. Perrigo has a 12 month low of $23.14 and a 12 month high of $30.93. The firm has a market cap of $3.74 billion, a PE ratio of -20.76 and a beta of 0.45. The stock has a 50 day moving average of $26.54 and a 200-day moving average of $26.02. The company has a quick ratio of 1.28, a current ratio of 2.36 and a debt-to-equity ratio of 0.82.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Voya Investment Management LLC lifted its holdings in shares of Perrigo by 4.6% during the first quarter. Voya Investment Management LLC now owns 20,446 shares of the company's stock worth $573,000 after buying an additional 903 shares during the last quarter. Nicola Wealth Management LTD. increased its position in shares of Perrigo by 27.7% during the first quarter. Nicola Wealth Management LTD. now owns 203,000 shares of the company's stock valued at $5,692,000 after purchasing an additional 44,000 shares during the period. Geneos Wealth Management Inc. increased its position in shares of 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 period. Bayforest Capital Ltd bought a new stake in shares of Perrigo during the first quarter valued at approximately $246,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Perrigo by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 513,112 shares of the company's stock valued at $14,388,000 after purchasing an additional 32,151 shares during the period. 95.91% of the stock is currently owned by institutional investors and hedge funds.

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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