Perrigo (NYSE:PRGO) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Perrigo (NYSE:PRGO) from a buy rating to a hold rating in a research note published on Saturday,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, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $17.50.

Perrigo Stock Down 0.8%

Shares of NYSE PRGO opened at $15.78 on Friday. The company has a quick ratio of 1.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.31. Perrigo has a 52 week low of $9.23 and a 52 week high of $21.01. The firm has a 50-day moving average price of $14.83 and a 200 day moving average price of $12.48. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -1.26, a price-to-earnings-growth ratio of 1.82 and a beta of 0.69.

Perrigo (NYSE:PRGO) last issued its 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. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Perrigo had a negative net margin of 41.85% and a positive return on equity of 11.25%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company posted ($0.06) earnings per share. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. Equities research analysts anticipate that Perrigo will post 2.17 EPS for the current fiscal year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, November 27th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date is Friday, November 27th. Perrigo’s dividend payout ratio is currently -9.27%.

Institutional Investors Weigh In On Perrigo

Several hedge funds and other institutional investors have recently bought and sold shares of PRGO. Salomon & Ludwin LLC bought a new stake in Perrigo in the 3rd quarter valued at about $25,000. KBC Group NV increased its position in shares of Perrigo by 61.3% during the 1st quarter. KBC Group NV now owns 6,283 shares of the company’s stock valued at $67,000 after purchasing an additional 2,388 shares during the period. Parvin Asset Management LLC acquired a new position in Perrigo during the second quarter worth about $79,000. Covestor Ltd grew its stake in shares of Perrigo by 13.1% in the 3rd quarter. Covestor Ltd now owns 7,748 shares of the company’s stock worth $114,000 after purchasing an additional 897 shares during the last quarter. Finally, Allworth Financial LP grew its stake in shares of Perrigo by 489.1% in the 2nd quarter. Allworth Financial LP now owns 9,390 shares of the company’s stock worth $98,000 after purchasing an additional 7,796 shares during the last quarter. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

About Perrigo

Perrigo Company plc is a global consumer self-care company that develops, manufactures and markets over-the-counter health products, wellness products and personal care items. Its portfolio includes products for allergy, pain relief, digestive health, skin care, smoking cessation, women’s health and other everyday health needs, along with vitamins, nutritional supplements and infant nutrition products.

Perrigo supplies products under its own brands, acquired brands and retailer-owned private-label labels.