Perrigo (NYSE:PRGO) Raised to “Buy” at StockNews.com

Perrigo (NYSE:PRGO) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Other equities research analysts have also recently issued research reports about the company. Argus cut Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Piper Sandler lowered Perrigo from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $34.00 to $27.00 in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Perrigo presently has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Perrigo Stock Performance

Shares of NYSE PRGO opened at $24.20 on Monday. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -20.68 and a beta of 0.54. The stock’s 50-day moving average is $25.48 and its 200 day moving average is $26.43. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. Perrigo has a 1-year low of $23.14 and a 1-year high of $33.46.

Insider Transactions at Perrigo

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the transaction, the director now owns 5,409 shares in the company, valued at $152,912.43. This represents a 76.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Perrigo

A number of hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new stake in Perrigo during the second quarter valued at $213,000. CWM LLC lifted its stake in shares of Perrigo by 38.8% in the 3rd quarter. CWM LLC now owns 11,380 shares of the company’s stock worth $298,000 after purchasing an additional 3,183 shares during the period. Creative Planning boosted its holdings in shares of Perrigo by 3.7% in the third quarter. Creative Planning now owns 18,477 shares of the company’s stock worth $485,000 after buying an additional 661 shares during the last quarter. nVerses Capital LLC bought a new stake in Perrigo during the third quarter valued at approximately $262,000. Finally, Raymond James & Associates grew its position in shares of Perrigo by 20.9% during the 3rd quarter. Raymond James & Associates now owns 104,404 shares of the company’s stock valued at $2,739,000 after acquiring an additional 18,024 shares during the period. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

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.