Perrigo (NYSE:PRGO) Trading Down 6.8% After Analyst Downgrade

Perrigo Company plc (NYSE:PRGO)’s stock price fell 6.8% during trading on Monday after Canaccord Genuity Group lowered their price target on the stock from $20.00 to $17.00. Canaccord Genuity Group currently has a buy rating on the stock. Perrigo traded as low as $12.34 and last traded at $12.3250. 2,869,652 shares traded hands during trading, an increase of 8% from the average session volume of 2,650,458 shares. The stock had previously closed at $13.22.

PRGO has been the topic of several other research reports. Argus raised Perrigo to a “hold” rating in a research note on Wednesday, January 14th. Zacks Research upgraded Perrigo from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Jefferies Financial Group restated a “hold” rating on shares of Perrigo in a research note on Thursday, February 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Perrigo in a report on Monday, December 22nd. Finally, Wall Street Zen cut shares of Perrigo from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.33.

Hedge Funds Weigh In On Perrigo

A number of institutional investors have recently bought and sold shares of PRGO. State of Michigan Retirement System raised its position in Perrigo by 1.2% during the second quarter. State of Michigan Retirement System now owns 33,058 shares of the company’s stock valued at $883,000 after acquiring an additional 400 shares in the last quarter. Amundi lifted its stake in shares of Perrigo by 11.7% in the 1st quarter. Amundi now owns 5,292 shares of the company’s stock valued at $148,000 after purchasing an additional 556 shares during the period. Slocum Gordon & Co LLP boosted its holdings in Perrigo by 1.1% during the third quarter. Slocum Gordon & Co LLP now owns 53,253 shares of the company’s stock worth $1,186,000 after buying an additional 602 shares in the last quarter. Hantz Financial Services Inc. grew its position in Perrigo by 101.0% during the second quarter. Hantz Financial Services Inc. now owns 1,234 shares of the company’s stock valued at $33,000 after buying an additional 620 shares during the period. Finally, Kestra Investment Management LLC increased its holdings in Perrigo by 57.1% in the second quarter. Kestra Investment Management LLC now owns 1,766 shares of the company’s stock valued at $47,000 after buying an additional 642 shares in the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Perrigo Stock Performance

The business’s 50-day simple moving average is $14.34 and its two-hundred day simple moving average is $17.25. The company has a quick ratio of 1.63, a current ratio of 2.76 and a debt-to-equity ratio of 1.23. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -1.11, a P/E/G ratio of 1.33 and a beta of 0.41.

Perrigo (NYSE:PRGO) last announced its earnings results on Thursday, February 26th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.03). Perrigo had a positive return on equity of 9.41% and a negative net margin of 33.51%.The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the company earned $0.93 earnings per share. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. As a group, sell-side analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 10.2%. The ex-dividend date is Monday, March 2nd. Perrigo’s dividend payout ratio (DPR) is currently -11.28%.

Perrigo Company Profile

Perrigo Company plc is a global healthcare supplier specializing in over-the-counter (OTC) and self-care products, as well as generic prescription pharmaceuticals and active pharmaceutical ingredients. The company develops, manufactures and distributes a broad array of consumer health products, including analgesics, vitamins and supplements, digestive health remedies, topical treatments, and infant formulas. Perrigo’s focus on private-label solutions has made it a leading partner for retailers and pharmacy chains seeking high-quality, value-oriented alternatives to branded medications and health supplements.

Organized across three principal business segments—Consumer Healthcare, Prescription Pharmaceuticals and Active Pharmaceutical Ingredients—Perrigo’s operations span research and development, manufacturing, quality assurance and global distribution.