Perrigo (NYSE:PRGO) Rating Lowered to Strong Sell at Zacks Research

Perrigo (NYSE:PRGO) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday, Zacks reports.

PRGO has been the topic of several other research reports. 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 cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $17.50.

Perrigo Price Performance

Perrigo stock opened at $15.78 on Thursday. The business has a 50 day simple moving average of $14.83 and a 200 day simple moving average of $12.48. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.32 and a quick ratio of 1.32. The company has a market capitalization of $2.19 billion, a PE ratio of -1.26, a price-to-earnings-growth ratio of 1.83 and a beta of 0.69. Perrigo has a one year low of $9.23 and a one year high of $21.01.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. Perrigo had a positive return on equity of 11.25% and a negative net margin of 41.85%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the business posted ($0.06) earnings per share. The business’s revenue was down 3.1% compared to the same quarter last year. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. On average, sell-side analysts forecast that Perrigo will post 2.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Perrigo

Several institutional investors have recently bought and sold shares of PRGO. Covestor Ltd grew its stake in shares of Perrigo by 13.1% during the third quarter. Covestor Ltd now owns 7,748 shares of the company’s stock valued at $114,000 after purchasing an additional 897 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of Perrigo in the third quarter valued at approximately $25,000. Profund Advisors LLC raised its position in Perrigo by 288.3% in the 3rd quarter. Profund Advisors LLC now owns 113,418 shares of the company’s stock worth $1,674,000 after purchasing an additional 84,207 shares during the last quarter. ProShare Advisors LLC raised its position in Perrigo by 51.7% in the 3rd quarter. ProShare Advisors LLC now owns 959,053 shares of the company’s stock worth $14,156,000 after purchasing an additional 326,797 shares during the last quarter. Finally, Vise Technologies Inc. lifted its holdings in Perrigo by 77.3% during the 3rd quarter. Vise Technologies Inc. now owns 22,352 shares of the company’s stock worth $330,000 after buying an additional 9,747 shares in the last quarter. Institutional investors own 95.91% of the company’s stock.

About Perrigo

Perrigo Company plc is a global consumer self-care company that develops, manufactures and markets over-the-counter health products, wellness products and personal care items. Its portfolio includes products for allergy, pain relief, digestive health, skin care, smoking cessation, women’s health and other everyday health needs, along with vitamins, nutritional supplements and infant nutrition products.

Perrigo supplies products under its own brands, acquired brands and retailer-owned private-label labels.