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 stock 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.

Analysts Set New Price Targets

PRGO has been the topic of several research reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of Perrigo in a research report on Thursday, February 26th. Zacks Research raised 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, Canaccord Genuity Group lowered their price objective on shares of Perrigo from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Perrigo presently has an average rating of “Hold” and an average target price of $19.33.

Perrigo Trading Up 8.6%

The firm has a market cap of $1.63 billion, a P/E ratio of -0.90, a price-to-earnings-growth ratio of 1.28 and a beta of 0.51. The company has a quick ratio of 1.59, a current ratio of 2.72 and a debt-to-equity ratio of 1.45. The firm’s 50-day simple moving average is $11.07 and its 200 day simple moving average is $12.51.

Perrigo (NYSE:PRGO) last posted its earnings results on Wednesday, May 6th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. The firm had revenue of $841.80 million during 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%. The company’s revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the company earned $0.60 earnings per share. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. As a group, analysts expect that Perrigo Company plc will post 2.12 earnings per share for the current year.

Perrigo Announces Dividend

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

Institutional Trading of Perrigo

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. raised its stake in shares of Perrigo by 439.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock valued at $27,000 after purchasing an additional 786 shares during the period. Kestra Investment Management LLC boosted its stake in Perrigo by 57.1% in the 2nd quarter. Kestra Investment Management LLC now owns 1,766 shares of the company’s stock worth $47,000 after purchasing an additional 642 shares during the period. Jones Financial Companies Lllp boosted its stake in Perrigo by 89.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,778 shares of the company’s stock worth $38,000 after purchasing an additional 838 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Perrigo by 116.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,888 shares of the company’s stock worth $26,000 after purchasing an additional 1,014 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Perrigo by 161.5% in 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 period. 95.91% of the stock is currently owned by 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.