Perrigo (NYSE:PRGO) Shares Up 5.9% – Here’s Why

Perrigo Company plc (NYSE:PRGO) rose 5.9% during trading on Thursday . The stock traded as high as $14.28 and last traded at $14.6550. Approximately 164,126 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 3,073,148 shares. The stock had previously closed at $13.84.

Analyst Upgrades and Downgrades

PRGO has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Perrigo from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 19th. Weiss Ratings raised shares of Perrigo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Perrigo currently has an average rating of “Hold” and a consensus target price of $19.33.

Perrigo Stock Up 6.9%

The firm has a 50-day moving average of $12.86 and a two-hundred day moving average of $11.46. The company has a quick ratio of 1.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $2.05 billion, a PE ratio of -1.18, a price-to-earnings-growth ratio of 1.64 and a beta of 0.59.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.39 by $0.11. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Perrigo had a positive return on equity of 11.25% and a negative net margin of 41.85%.The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.06) EPS. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. Equities research analysts predict that Perrigo Company plc will post 2.18 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 28th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend was Friday, August 28th. Perrigo’s dividend payout ratio (DPR) is -9.27%.

Hedge Funds Weigh In On Perrigo

Several large investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC acquired a new position in Perrigo during the second quarter worth $207,000. WINTON GROUP Ltd grew its stake in shares of Perrigo by 52.9% in the second quarter. WINTON GROUP Ltd now owns 75,700 shares of the company’s stock valued at $787,000 after buying an additional 26,200 shares in the last quarter. Engineers Gate Manager LP raised its holdings in shares of Perrigo by 28.4% in the 2nd quarter. Engineers Gate Manager LP now owns 151,869 shares of the company’s stock valued at $1,578,000 after buying an additional 33,554 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Perrigo during the 2nd quarter worth about $126,000. Finally, Allworth Financial LP boosted its holdings in Perrigo by 489.1% during the 2nd quarter. Allworth Financial LP now owns 9,390 shares of the company’s stock valued at $98,000 after acquiring an additional 7,796 shares during the period. 95.91% of the stock is currently owned by institutional investors and hedge funds.

About Perrigo

Perrigo Company plc is a global consumer self-care company that develops, manufactures and markets over-the-counter (OTC) products and other nonprescription health and wellness products. Its portfolio spans consumer health categories including pain relief, allergy and cold remedies, digestive health, skin care, oral care, vitamins and supplements, and women’s health.

The company sells products under both its own brands and retailer-owned store brands through pharmacies, supermarkets, mass merchants, e-commerce channels and other outlets.