JPMorgan Chase & Co. Reaffirms Neutral Rating for Perrigo (NYSE:PRGO)

Perrigo (NYSE:PRGO)‘s stock had its “neutral” rating reissued by JPMorgan Chase & Co. in a research report issued on Thursday, Marketbeat reports. They currently have a $20.00 price target on the stock, down from their previous price target of $32.00. JPMorgan Chase & Co.‘s price target indicates a potential upside of 38.92% from the stock’s current price.

A number of other research firms also recently commented on PRGO. Wall Street Zen upgraded Perrigo from a “hold” rating to a “buy” rating in a research report on Sunday, October 26th. Canaccord Genuity Group decreased their price objective on Perrigo from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Jefferies Financial Group cut their target price on shares of Perrigo from $27.00 to $23.00 and set a “hold” rating for the company in a report on Monday, October 27th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Perrigo in a research report on Wednesday, October 8th. One investment 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.com, Perrigo currently has a consensus rating of “Hold” and a consensus price target of $22.50.

Perrigo Stock Performance

Shares of NYSE:PRGO traded down $0.53 during mid-day trading on Thursday, reaching $14.40. 4,899,113 shares of the company traded hands, compared to its average volume of 1,658,164. The company’s 50 day moving average price is $21.34 and its 200-day moving average price is $24.42. The firm has a market cap of $1.98 billion, a PE ratio of -24.82 and a beta of 0.42. Perrigo has a 52 week low of $14.17 and a 52 week high of $30.93. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24.

Perrigo (NYSE:PRGO) last issued its earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.05. Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. Perrigo’s quarterly revenue was down 4.1% compared to the same quarter last year. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. On average, equities analysts expect that Perrigo will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Eduardo Guarita Bezerra bought 3,000 shares of Perrigo stock in a transaction on Monday, August 18th. The stock was acquired at an average cost of $22.74 per share, for a total transaction of $68,220.00. Following the completion of the acquisition, the chief financial officer owned 48,949 shares of the company’s stock, valued at $1,113,100.26. This trade represents a 6.53% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert Willis acquired 1,488 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was purchased at an average cost of $24.10 per share, for a total transaction of $35,860.80. Following the transaction, the executive vice president owned 41,939 shares in the company, valued at approximately $1,010,729.90. The trade was a 3.68% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 10,118 shares of company stock worth $232,699 over the last quarter. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Perrigo

Several institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of Perrigo by 0.3% during the first quarter. Principal Financial Group Inc. now owns 313,849 shares of the company’s stock worth $8,800,000 after buying an additional 914 shares during the period. Envestnet Asset Management Inc. raised its stake in Perrigo by 26.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 484,805 shares of the company’s stock worth $13,594,000 after acquiring an additional 102,375 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its position in Perrigo by 3.8% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 19,707 shares of the company’s stock worth $553,000 after acquiring an additional 724 shares during the period. State of Michigan Retirement System grew its stake in Perrigo by 1.2% during the 1st quarter. State of Michigan Retirement System now owns 32,658 shares of the company’s stock valued at $916,000 after purchasing an additional 400 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Perrigo by 0.3% in the first quarter. New York State Common Retirement Fund now owns 451,278 shares of the company’s stock valued at $12,654,000 after purchasing an additional 1,425 shares during the period. 95.91% of the stock is 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.