Perrigo (NYSE:PRGO) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Perrigo (NYSE:PRGO) from a strong-buy rating to a buy rating in a research note published on Sunday,Wall Street Zen reports.

Separately, 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 research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Perrigo presently has a consensus rating of “Hold” and an average price target of $19.33.

Perrigo Stock Performance

Shares of NYSE:PRGO opened at $14.99 on Friday. The firm’s 50 day simple moving average is $13.21 and its 200-day simple moving average is $11.59. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.32 and a current ratio of 2.32. Perrigo has a one year low of $9.23 and a one year high of $22.65. The firm has a market cap of $2.08 billion, a PE ratio of -1.20, a price-to-earnings-growth ratio of 1.73 and a beta of 0.59.

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

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 28th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 7.7%. The ex-dividend date was Friday, August 28th. Perrigo’s dividend payout ratio (DPR) is -9.27%.

Institutional Trading of Perrigo

Several hedge funds and other institutional investors have recently made changes to their positions in PRGO. Thompson Siegel & Walmsley LLC grew its stake in Perrigo by 28.4% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 4,658,601 shares of the company’s stock valued at $64,848,000 after purchasing an additional 1,029,770 shares during the last quarter. Norges Bank acquired a new stake in shares of Perrigo during the fourth quarter worth about $42,607,000. Bank of America Corp DE lifted its holdings in shares of Perrigo by 25.5% during the first quarter. Bank of America Corp DE now owns 1,568,598 shares of the company’s stock worth $16,847,000 after purchasing an additional 318,248 shares during the period. Sound Income Strategies LLC boosted its position in Perrigo by 34.0% in the first quarter. Sound Income Strategies LLC now owns 1,525,384 shares of the company’s stock valued at $16,779,000 after buying an additional 387,027 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Perrigo by 125.5% in the 1st quarter. First Trust Advisors LP now owns 1,496,244 shares of the company’s stock worth $16,070,000 after buying an additional 832,686 shares during the period. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Company Profile

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.