Perrigo (NYSE:PRGO) Shares Up 8.5% – Here’s What Happened

Shares of Perrigo Company plc (NYSE:PRGO) rose 8.5% during trading on Monday . The company traded as high as $11.30 and last traded at $11.75. Approximately 224,155 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 2,945,974 shares. The stock had previously closed at $10.83.

Analyst Ratings Changes

PRGO has been the subject of a number of analyst reports. Canaccord Genuity Group cut their price objective on shares of Perrigo from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Zacks Research upgraded shares of Perrigo from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings lowered shares of Perrigo from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 28th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Perrigo in a research report on Thursday, February 26th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $19.33.

Perrigo Price Performance

The business’s 50 day moving average is $11.07 and its two-hundred day moving average is $12.51. The firm has a market capitalization of $1.63 billion, a PE ratio of -0.90, a P/E/G ratio of 1.28 and a beta of 0.51. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.72 and a quick ratio of 1.59.

Perrigo (NYSE:PRGO) last announced its earnings results on Wednesday, May 6th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $841.80 million for the quarter, compared to the consensus estimate of $1.04 billion. Perrigo had a negative net margin of 43.50% and a positive return on equity of 9.96%. Perrigo’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the firm posted $0.60 earnings per share. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. As a group, research analysts anticipate that Perrigo Company plc will post 2.12 EPS for the current year.

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Friday, May 29th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 9.9%. The ex-dividend date of this dividend is Friday, May 29th. Perrigo’s dividend payout ratio (DPR) is currently -8.85%.

Hedge Funds Weigh In On Perrigo

A number of large investors have recently modified their holdings of PRGO. Geneos Wealth Management Inc. grew its position in Perrigo by 439.1% during the first quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock valued at $27,000 after acquiring an additional 786 shares during the last quarter. Kestra Investment Management LLC grew its position in Perrigo by 57.1% during the second quarter. Kestra Investment Management LLC now owns 1,766 shares of the company’s stock valued at $47,000 after acquiring an additional 642 shares during the last quarter. Jones Financial Companies Lllp grew its position in Perrigo by 89.1% during the third quarter. Jones Financial Companies Lllp now owns 1,778 shares of the company’s stock valued at $38,000 after acquiring an additional 838 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Perrigo by 116.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,888 shares of the company’s stock valued at $26,000 after acquiring an additional 1,014 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Perrigo by 161.5% during the fourth quarter. UMB Bank n.a. now owns 1,964 shares of the company’s stock valued at $27,000 after acquiring an additional 1,213 shares during the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

About Perrigo

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.