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

Wall Street Zen upgraded shares of Perrigo (NYSE:PRGO - Free Report) from a hold rating to a buy rating in a research note released on Saturday.

Perrigo Trading Up 0.1%

Perrigo stock traded up $0.02 during mid-day trading on Friday, hitting $27.12. The company's stock had a trading volume of 873,173 shares, compared to its average volume of 1,514,519. The company has a 50 day moving average of $26.11 and a 200-day moving average of $26.20. The stock has a market cap of $3.73 billion, a PE ratio of -23.18 and a beta of 0.45. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. Perrigo has a one year low of $23.14 and a one year high of $30.93.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the company earned $0.29 EPS. The business's revenue was down 3.5% compared to the same quarter last year. On average, research analysts anticipate that Perrigo will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Friday, May 30th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 annualized dividend and a yield of 4.28%. Perrigo's dividend payout ratio (DPR) is presently -88.55%.

Insider Transactions at Perrigo

In other news, EVP Ronald Craig Janish sold 7,800 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $27.44, for a total transaction of $214,032.00. Following the sale, the executive vice president now owns 33,666 shares in the company, valued at approximately $923,795.04. The trade was a 18.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company's stock.

Institutional Investors Weigh In On Perrigo

A number of large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its holdings in shares of Perrigo by 439.1% during the first quarter. Geneos Wealth Management Inc. now owns 965 shares of the company's stock worth $27,000 after purchasing an additional 786 shares during the period. Bayforest Capital Ltd purchased a new stake in shares of Perrigo in the first quarter valued at approximately $246,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Perrigo by 6.7% in 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 buying an additional 32,151 shares in the last quarter. Dean Capital Management increased its position in shares of Perrigo by 219.1% during the first quarter. Dean Capital Management now owns 52,664 shares of the company's stock worth $1,477,000 after purchasing an additional 36,162 shares in the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of Perrigo during the first quarter worth approximately $250,000. 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.