JPMorgan Chase & Co. Has Lowered Expectations for Perrigo (NYSE:PRGO) Stock Price

Perrigo (NYSE:PRGO) had its target price reduced by JPMorgan Chase & Co. from $20.00 to $18.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 38.36% from the company’s current price.

Other analysts also recently issued reports about the company. Jefferies Financial Group decreased their target price on Perrigo from $27.00 to $23.00 and set a “hold” rating on the stock in a research report on Monday, October 27th. Canaccord Genuity Group decreased their price objective on shares of Perrigo from $40.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Perrigo in a research note on Monday, December 8th. Wall Street Zen downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Zacks Research downgraded shares of Perrigo from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Perrigo currently has a consensus rating of “Reduce” and a consensus target price of $22.00.

Perrigo Stock Up 1.3%

Shares of NYSE PRGO opened at $13.01 on Monday. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -34.24 and a beta of 0.39. Perrigo has a 52 week low of $12.17 and a 52 week high of $30.93. The firm has a 50-day moving average price of $16.66 and a 200 day moving average price of $21.96. The company has a quick ratio of 1.44, a current ratio of 2.51 and a debt-to-equity ratio of 0.81.

Perrigo (NYSE:PRGO) last issued its earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Perrigo had a negative net margin of 1.21% and a positive return on equity of 9.16%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the company posted $0.81 earnings per share. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. Equities research analysts anticipate that Perrigo will post 2.56 EPS for the current fiscal year.

Insider Transactions at Perrigo

In other news, Director Geoffrey M. Parker bought 7,500 shares of the stock in a transaction on Wednesday, November 12th. The stock was purchased at an average cost of $14.18 per share, with a total value of $106,350.00. Following the purchase, the director owned 17,375 shares of the company’s stock, valued at approximately $246,377.50. The trade was a 75.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Perrigo

Several hedge funds have recently made changes to their positions in PRGO. Geneos Wealth Management Inc. increased its stake in Perrigo by 439.1% in the first quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock valued at $27,000 after purchasing an additional 786 shares during the last quarter. Huntington National Bank grew its holdings in Perrigo by 237.8% in the 2nd quarter. Huntington National Bank now owns 1,054 shares of the company’s stock valued at $28,000 after buying an additional 742 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of Perrigo by 54.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the company’s stock valued at $32,000 after acquiring an additional 424 shares during the last quarter. Hantz Financial Services Inc. increased its stake in shares of Perrigo by 101.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,234 shares of the company’s stock valued at $33,000 after acquiring an additional 620 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Perrigo by 89.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,778 shares of the company’s stock worth $38,000 after acquiring an additional 838 shares during the period. Institutional investors and hedge funds own 95.91% of the company’s stock.

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.