Perrigo Company plc (NYSE:PRGO) EVP Sells $382,200.00 in Stock

Perrigo Company plc (NYSE:PRGO) EVP Ronald Craig Janish sold 13,000 shares of Perrigo stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $29.40, for a total transaction of $382,200.00. Following the sale, the executive vice president now owns 20,553 shares of the company’s stock, valued at $604,258.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Perrigo Stock Down 0.1 %

Shares of PRGO traded down $0.04 during midday trading on Wednesday, hitting $29.23. The company had a trading volume of 789,821 shares, compared to its average volume of 1,676,283. The company’s 50-day simple moving average is $27.25 and its 200-day simple moving average is $29.06. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.99. Perrigo Company plc has a 1 year low of $24.82 and a 1 year high of $36.66. The firm has a market capitalization of $3.98 billion, a P/E ratio of -414.14 and a beta of 0.51.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company earned $0.63 EPS. The company’s revenue for the quarter was down 10.7% on a year-over-year basis. As a group, sell-side analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.276 per share. The ex-dividend date is Friday, August 30th. This represents a $1.10 dividend on an annualized basis and a yield of 3.78%. Perrigo’s payout ratio is currently -1,571.43%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. abrdn plc acquired a new stake in shares of Perrigo during the fourth quarter worth about $1,422,000. Signaturefd LLC raised its holdings in shares of Perrigo by 25.6% in the fourth quarter. Signaturefd LLC now owns 2,240 shares of the company’s stock valued at $72,000 after buying an additional 457 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Perrigo during the fourth quarter worth about $30,000. State of New Jersey Common Pension Fund D raised its stake in Perrigo by 18.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 82,157 shares of the company’s stock valued at $2,644,000 after acquiring an additional 12,603 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its position in Perrigo by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 169,715 shares of the company’s stock worth $5,461,000 after acquiring an additional 657 shares during the period. 95.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on PRGO. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Piper Sandler cut their price target on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th.

About Perrigo

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.