Perrigo (NYSE:PRGO) Given “Buy” Rating at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Perrigo (NYSE:PRGO) in a research report sent to investors on Friday morning, Benzinga reports. Canaccord Genuity Group currently has a $42.00 price target on the stock.

Several other brokerages also recently issued reports on PRGO. JPMorgan Chase & Co. cut their price target on Perrigo from $48.00 to $41.00 and set an overweight rating on the stock in a report on Wednesday, February 28th. Piper Sandler raised their price target on Perrigo from $35.00 to $39.00 and gave the stock an overweight rating in a report on Monday, April 8th. Finally, StockNews.com raised Perrigo from a hold rating to a buy rating in a report on Wednesday, April 3rd.

Perrigo Trading Down 0.6 %

Shares of NYSE PRGO opened at $30.13 on Friday. The company has a market cap of $4.08 billion, a price-to-earnings ratio of -301.30 and a beta of 0.64. Perrigo has a 12-month low of $25.77 and a 12-month high of $40.28. The company has a current ratio of 1.79, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76. The stock’s 50 day simple moving average is $30.76 and its 200 day simple moving average is $30.81.

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

Perrigo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Friday, March 8th were paid a dividend of $0.276 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.10 annualized dividend and a yield of 3.66%. This is an increase from Perrigo’s previous quarterly dividend of $0.27. Perrigo’s payout ratio is presently -1,100.00%.

Insider Buying and Selling at Perrigo

In other Perrigo news, CEO Patrick Lockwood-Taylor bought 9,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were purchased at an average price of $26.54 per share, with a total value of $252,130.00. Following the purchase, the chief executive officer now directly owns 20,500 shares of the company’s stock, valued at $544,070. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Alison Ives acquired 2,490 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were bought at an average price of $27.26 per share, with a total value of $67,877.40. Following the purchase, the executive vice president now owns 16,122 shares of the company’s stock, valued at $439,485.72. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Patrick Lockwood-Taylor acquired 9,500 shares of the company’s stock in a transaction dated 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 purchase, the chief executive officer now directly owns 20,500 shares in the company, valued at approximately $544,070. The disclosure for this purchase can be found here. Insiders have acquired 17,990 shares of company stock valued at $475,227 in the last quarter. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of Perrigo

Hedge funds and other institutional investors have recently modified their holdings of the company. Dark Forest Capital Management LP bought a new stake in shares of Perrigo in the 1st quarter worth $31,000. GAMMA Investing LLC acquired a new position in shares of Perrigo in the 4th quarter worth $30,000. Parkside Financial Bank & Trust grew its holdings in shares of Perrigo by 1,694.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company’s stock worth $34,000 after acquiring an additional 983 shares during the last quarter. Ronald Blue Trust Inc. grew its holdings in shares of Perrigo by 132.3% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,157 shares of the company’s stock worth $39,000 after acquiring an additional 659 shares during the last quarter. Finally, Hexagon Capital Partners LLC acquired a new position in shares of Perrigo in the 4th quarter worth $37,000. Institutional investors own 95.91% of the company’s stock.

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.