Perrigo (NYSE:PRGO) Price Target Raised to $19.00

Perrigo (NYSE:PRGO) had its price objective raised by Canaccord Genuity Group from $17.00 to $19.00 in a research report report published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

PRGO has been the topic of several other research reports. Wall Street Zen cut shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings raised shares of Perrigo from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, August 6th. Finally, Zacks Research downgraded Perrigo from a “hold” rating to a “strong sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Perrigo currently has a consensus rating of “Reduce” and an average price target of $18.50.

Perrigo Price Performance

Shares of PRGO opened at $15.78 on Friday. The firm has a market capitalization of $2.19 billion, a PE ratio of -1.26, a PEG ratio of 1.82 and a beta of 0.71. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.32 and a quick ratio of 1.32. Perrigo has a fifty-two week low of $9.23 and a fifty-two week high of $21.01. The company’s 50-day moving average is $14.83 and its 200-day moving average is $12.48.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the company earned ($0.06) EPS. The company’s revenue was down 3.1% on a year-over-year basis. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. Equities analysts forecast that Perrigo will post 2.17 EPS for the current year.

Perrigo Announces Dividend

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

Institutional Investors Weigh In On Perrigo

Several institutional investors have recently made changes to their positions in the stock. Salomon & Ludwin LLC bought a new position in shares of Perrigo during the third quarter valued at about $25,000. KBC Group NV raised 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 buying an additional 2,388 shares in the last quarter. Parvin Asset Management LLC purchased a new position in shares of Perrigo during the second quarter valued at about $79,000. Covestor Ltd grew its holdings in Perrigo by 13.1% in the third quarter. Covestor Ltd now owns 7,748 shares of the company’s stock worth $114,000 after purchasing an additional 897 shares during the period. Finally, Allworth Financial LP raised its holdings in Perrigo by 489.1% in the second quarter. Allworth Financial LP now owns 9,390 shares of the company’s stock worth $98,000 after buying an additional 7,796 shares during the last quarter. 95.91% of the stock is currently owned by 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.