Piper Sandler slashes price target on Perrigo Company plc [PRGO] – find out why.

Perrigo Company plc [NYSE: PRGO] slipped around -4.87 points on Tuesday, while shares priced at $27.30 at the close of the session, down -15.14%. The company report on February 27, 2024 at 6:30 AM that Perrigo Reports Fourth Quarter & Fiscal Year 2023 Financial Results From Continuing Operations; Launches Investment & Efficiency Program.

Net Sales from Continuing Operations Were a Fourth Quarter and Fiscal Year Record.

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Delivered Fiscal Year 2023 Double-Digit Improvement in Gross Profit, Operating Income and EPS, Year-Over-Year .

Compared to the average trading volume of 1.61M shares, PRGO reached a trading volume of 10616774 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Perrigo Company plc [PRGO]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PRGO shares is $39.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PRGO stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Perrigo Company plc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 17, 2023. While these analysts kept the previous recommendation, Canaccord Genuity raised their target price to Buy. The new note on the price target was released on March 07, 2023, representing the official price target for Perrigo Company plc stock. Previously, the target price had yet another raise to $46, while Argus analysts kept a Buy rating on PRGO stock. On September 06, 2022, analysts increased their price target for PRGO shares from 48 to 54.

The Average True Range (ATR) for Perrigo Company plc is set at 0.95, with the Price to Sales ratio for PRGO stock in the period of the last 12 months amounting to 0.79. The Price to Book ratio for the last quarter was 0.78, with the Price to Cash per share for the same quarter was set at 5.54. Price to Free Cash Flow for PRGO in the course of the last twelve months was 12.18 with Quick ratio for the last quarter at 1.07.

How has PRGO stock performed recently?

Perrigo Company plc [PRGO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.53. With this latest performance, PRGO shares dropped by -18.36% in over the last four-week period, additionally sinking by -27.20% over the last 6 months – not to mention a drop of -24.71% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PRGO stock in for the last two-week period is set at 21.95, with the RSI for the last a single of trading hit 16.02, and the three-weeks RSI is set at 27.72 for Perrigo Company plc [PRGO]. The present Moving Average for the last 50 days of trading for this stock 32.21, while it was recorded at 31.09 for the last single week of trading, and 32.70 for the last 200 days.

Perrigo Company plc [PRGO]: Deeper insight into the fundamentals

Perrigo Company plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.07 and a Current Ratio set at 1.79.

Earnings analysis for Perrigo Company plc [PRGO]

With the latest financial reports released by the company, Perrigo Company plc posted 0.75/share EPS, while the average EPS was predicted by analysts to be reported at 0.7/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PRGO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Perrigo Company plc go to 10.00%.

Insider trade positions for Perrigo Company plc [PRGO]

The top three institutional holders of PRGO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PRGO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PRGO stock with ownership which is approximately 5.8325%.