Perrigo Company plc (NYSE:PRGO) Given Consensus Rating of “Reduce” by Brokerages

Shares of Perrigo Company plc (NYSE:PRGO) have been given an average recommendation of “Reduce” by the six brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $20.3333.

A number of research analysts have weighed in on PRGO shares. Zacks Research cut shares of Perrigo from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. JPMorgan Chase & Co. reduced their price target on Perrigo from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, December 15th. Argus raised Perrigo to a “hold” rating in a report on Wednesday, January 14th. Canaccord Genuity Group cut their price objective on Perrigo from $40.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Perrigo in a research report on Monday, December 22nd.

Institutional Trading of Perrigo

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. purchased a new position in Perrigo in the 4th quarter valued at about $28,000. Empowered Funds LLC purchased a new position in shares of Perrigo in the fourth quarter valued at approximately $5,031,000. Meeder Advisory Services Inc. acquired a new stake in shares of Perrigo in the fourth quarter worth approximately $238,000. T3 Companies LLC purchased a new stake in shares of Perrigo during the fourth quarter worth approximately $139,000. Finally, M Holdings Securities Inc. acquired a new position in Perrigo in the 4th quarter valued at $270,000. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Stock Performance

NYSE PRGO opened at $14.59 on Thursday. Perrigo has a fifty-two week low of $12.17 and a fifty-two week high of $30.93. The firm has a market capitalization of $2.01 billion, a P/E ratio of -38.38, a PEG ratio of 1.29 and a beta of 0.39. The stock has a 50-day simple moving average of $14.12 and a two-hundred day simple moving average of $18.37. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.44 and a current ratio of 2.51.

Perrigo Company Profile

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.