Short Interest in Perrigo Company plc (NYSE:PRGO) Decreases By 18.1%

Perrigo Company plc (NYSE:PRGO) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 4,260,000 shares, a decrease of 18.1% from the August 31st total of 5,200,000 shares. Based on an average daily trading volume, of 1,330,000 shares, the short-interest ratio is currently 3.2 days.

Insider Buying and Selling at Perrigo

In other Perrigo news, EVP Svend Andersen sold 28,300 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total value of $785,325.00. Following the completion of the transaction, the executive vice president now directly owns 73,553 shares in the company, valued at approximately $2,041,095.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Perrigo news, EVP Ronald Craig Janish sold 13,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the transaction, the executive vice president now directly owns 20,553 shares of the company’s stock, valued at $604,258.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Svend Andersen sold 28,300 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total transaction of $785,325.00. Following the sale, the executive vice president now directly owns 73,553 shares of the company’s stock, valued at approximately $2,041,095.75. The disclosure for this sale can be found here. Insiders sold a total of 50,254 shares of company stock worth $1,411,969 over the last three months. Company insiders own 0.70% of the company’s stock.

Institutional Trading of Perrigo

Hedge funds have recently added to or reduced their stakes in the company. M&R Capital Management Inc. lifted its stake in Perrigo by 3.0% in the first quarter. M&R Capital Management Inc. now owns 14,717 shares of the company’s stock valued at $474,000 after buying an additional 434 shares during the last quarter. Retirement Systems of Alabama raised its stake in Perrigo by 0.3% during the first quarter. Retirement Systems of Alabama now owns 170,162 shares of the company’s stock worth $5,478,000 after purchasing an additional 447 shares during the period. Ridgewood Investments LLC lifted its position in Perrigo by 1.3% during the 1st quarter. Ridgewood Investments LLC now owns 35,140 shares of the company’s stock worth $1,131,000 after acquiring an additional 451 shares in the last quarter. Park Avenue Securities LLC increased its stake in Perrigo by 4.3% during the 1st quarter. Park Avenue Securities LLC now owns 11,330 shares of the company’s stock worth $365,000 after buying an additional 465 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Perrigo by 1.9% in the second quarter. Arizona State Retirement System now owns 37,939 shares of the company’s stock worth $974,000 after acquiring an additional 699 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Trading Up 0.1 %

Shares of PRGO opened at $25.65 on Monday. Perrigo has a 52-week low of $24.82 and a 52-week high of $34.60. The stock has a market cap of $3.50 billion, a PE ratio of -366.43 and a beta of 0.49. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.80. The firm’s fifty day moving average is $27.78 and its two-hundred day moving average is $28.65.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.53 EPS for the quarter, beating 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 firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the company earned $0.63 EPS. The business’s revenue for the quarter was down 10.7% compared to the same quarter last year. Research analysts forecast that Perrigo will post 2.57 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were issued a $0.276 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.10 dividend on an annualized basis and a yield of 4.30%. Perrigo’s dividend payout ratio (DPR) is presently -1,571.43%.

Analysts Set New Price Targets

PRGO has been the subject of several research analyst reports. Jefferies Financial Group restated a “hold” rating and set a $30.00 price target (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Piper Sandler dropped their price objective on Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Finally, StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Perrigo currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

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.