Perrigo (NYSE:PRGO) Stock Jumps 4.5% – What’s Next?

Perrigo Company plc (NYSE:PRGO)’s stock price was up 4.5% during trading on Wednesday. The stock traded as high as $15.92 and last traded at $16.0660. 1,196,527 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 3,066,198 shares. The stock had previously closed at $15.37.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PRGO. Weiss Ratings upgraded shares of Perrigo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. Wall Street Zen lowered shares of Perrigo from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 27th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Perrigo currently has a consensus rating of “Hold” and a consensus target price of $19.33.

Perrigo Stock Up 3.1%

The business has a 50 day moving average of $14.07 and a two-hundred day moving average of $11.94. The stock has a market capitalization of $2.20 billion, a PE ratio of -1.27, a PEG ratio of 1.77 and a beta of 0.69. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.32 and a current ratio of 2.32.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.11. Perrigo had a negative net margin of 41.85% and a positive return on equity of 11.25%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the company earned ($0.06) earnings per share. Perrigo’s revenue for the quarter was down 3.1% on a year-over-year basis. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. Analysts predict that Perrigo Company plc will post 2.18 EPS for the current year.

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 28th were given a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $1.16 annualized dividend and a yield of 7.3%. Perrigo’s dividend payout ratio (DPR) is currently -9.27%.

Hedge Funds Weigh In On Perrigo

Hedge funds and other institutional investors have recently made changes to their positions in the business. KBC Group NV raised its stake in Perrigo by 61.3% during the 1st quarter. KBC Group NV now owns 6,283 shares of the company’s stock valued at $67,000 after acquiring an additional 2,388 shares in the last quarter. Parvin Asset Management LLC bought a new position in Perrigo in the 2nd quarter valued at about $79,000. Allworth Financial LP increased its stake in Perrigo by 489.1% during the 2nd quarter. Allworth Financial LP now owns 9,390 shares of the company’s stock valued at $98,000 after buying an additional 7,796 shares during the period. Whitebox Advisors LLC bought a new position in shares of Perrigo in the first quarter valued at approximately $111,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Perrigo during the second quarter worth about $126,000. 95.91% of the stock is currently owned by institutional investors and hedge funds.

About Perrigo

Perrigo Company plc (NYSE: PRGO) is a global consumer self-care company that develops, manufactures and sells over-the-counter (OTC) health and wellness products. Its portfolio includes products for pain relief, allergy and cold relief, digestive health, sleep support, skin care, women’s health and oral care. Perrigo supplies both its own brands and retailer-owned store brands.

The company markets products under a range of brand names, including Compeed, ACO, ellaOne and other regional brands, while also producing private-label alternatives to widely used consumer health products.