Wall Street Zen Downgrades Perrigo (NYSE:PRGO) to Hold

Perrigo (NYSE:PRGO - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Friday.

Perrigo Price Performance

Shares of PRGO stock traded down $0.02 on Friday, reaching $26.55. The company's stock had a trading volume of 952,191 shares, compared to its average volume of 1,458,880. The stock's fifty day simple moving average is $26.31 and its 200-day simple moving average is $26.02. Perrigo has a 1 year low of $23.14 and a 1 year high of $30.93. The company has a current ratio of 2.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of -20.27 and a beta of 0.46.

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

Institutional Trading of Perrigo

Institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. lifted its position in Perrigo by 439.1% in the first quarter. Geneos Wealth Management Inc. now owns 965 shares of the company's stock worth $27,000 after buying an additional 786 shares during the last quarter. Headlands Technologies LLC lifted its position in shares of Perrigo by 1,942.0% during the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock worth $36,000 after purchasing an additional 1,340 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in shares of Perrigo during the first quarter worth $42,000. Parallel Advisors LLC lifted its position in shares of Perrigo by 176.9% during the first quarter. Parallel Advisors LLC now owns 1,714 shares of the company's stock worth $48,000 after purchasing an additional 1,095 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Perrigo by 138.3% during the first quarter. First Horizon Advisors Inc. now owns 1,754 shares of the company's stock worth $49,000 after purchasing an additional 1,018 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors.

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.

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