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

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

Perrigo Stock Performance

Shares of NYSE PRGO traded up $0.76 during trading hours on Friday, hitting $27.32. 921,114 shares of the stock were exchanged, compared to its average volume of 1,517,716. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The company's 50 day moving average is $26.16 and its 200 day moving average is $26.18. The firm has a market capitalization of $3.76 billion, a P/E ratio of -23.35 and a beta of 0.45. Perrigo has a one year low of $23.14 and a one year high of $30.93.

Perrigo (NYSE:PRGO - Get Free Report) last announced its 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. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.09 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The firm's revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter last year, the company posted $0.29 EPS. On average, research analysts expect that Perrigo will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Friday, May 30th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a yield of 4.25%. Perrigo's dividend payout ratio (DPR) is -88.55%.

Insiders Place Their Bets

In related news, EVP Ronald Craig Janish sold 7,800 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $27.44, for a total value of $214,032.00. Following the completion of the sale, the executive vice president now directly owns 33,666 shares of the company's stock, valued at approximately $923,795.04. This represents a 18.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC increased its stake in Perrigo by 44.8% in the 3rd quarter. Barclays PLC now owns 120,502 shares of the company's stock worth $3,160,000 after purchasing an additional 37,268 shares during the period. Access Investment Management LLC purchased a new stake in shares of Perrigo during the fourth quarter worth about $7,989,000. Charles Schwab Investment Management Inc. grew its holdings in Perrigo by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,048,005 shares of the company's stock valued at $26,944,000 after buying an additional 13,835 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Perrigo in the 4th quarter valued at approximately $3,177,000. Finally, SG Americas Securities LLC bought a new stake in shares of Perrigo during the 4th quarter worth approximately $691,000. 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.