Perrigo (NYSE:PRGO) Rating Reiterated by Canaccord Genuity Group

Perrigo (NYSE:PRGO)‘s stock had its “buy” rating reaffirmed by analysts at Canaccord Genuity Group in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $42.00 price objective on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 38.52% from the stock’s current price.

A number of other analysts have also recently issued reports on PRGO. Piper Sandler raised their target price on shares of Perrigo from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. decreased their target price on Perrigo from $48.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th.

Perrigo Trading Down 3.1 %

Perrigo stock opened at $30.32 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.07 and a current ratio of 1.79. The stock has a 50-day simple moving average of $30.80 and a 200 day simple moving average of $30.82. The stock has a market capitalization of $4.11 billion, a P/E ratio of -303.20 and a beta of 0.64. Perrigo has a 52 week low of $25.77 and a 52 week high of $40.28.

Perrigo (NYSE:PRGO) last posted its earnings results on Tuesday, February 27th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. Perrigo had a positive return on equity of 7.34% and a negative net margin of 0.27%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm earned $0.75 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Analysts expect that Perrigo will post 2.55 earnings per share for the current year.

Insider Buying and Selling at Perrigo

In related news, CEO Patrick Lockwood-Taylor purchased 9,500 shares of Perrigo stock in a transaction that occurred on Thursday, February 29th. The shares were acquired at an average price of $26.54 per share, with a total value of $252,130.00. Following the completion of the transaction, the chief executive officer now directly owns 20,500 shares of the company’s stock, valued at approximately $544,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Alison Ives purchased 2,490 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was bought at an average price of $27.26 per share, with a total value of $67,877.40. Following the acquisition, the executive vice president now owns 16,122 shares in the company, valued at approximately $439,485.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick Lockwood-Taylor acquired 9,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average cost of $26.54 per share, for a total transaction of $252,130.00. Following the completion of the purchase, the chief executive officer now directly owns 20,500 shares of the company’s stock, valued at $544,070. The disclosure for this purchase can be found here. Insiders acquired 17,990 shares of company stock valued at $475,227 in the last quarter. Company insiders own 0.70% of the company’s stock.

Institutional Trading of Perrigo

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC bought a new position in Perrigo in the 4th quarter valued at approximately $30,000. Dark Forest Capital Management LP bought a new position in shares of Perrigo during the first quarter valued at $31,000. Parkside Financial Bank & Trust lifted its holdings in shares of Perrigo by 1,694.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company’s stock worth $34,000 after purchasing an additional 983 shares during the period. Hexagon Capital Partners LLC acquired a new stake in Perrigo in the fourth quarter valued at $37,000. Finally, Ronald Blue Trust Inc. lifted its holdings in Perrigo by 132.3% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,157 shares of the company’s stock worth $39,000 after buying an additional 659 shares during the period. 95.91% of the stock is currently owned by institutional investors.

About Perrigo

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.