Geoffrey Parker Buys 4,375 Shares of Perrigo (NYSE:PRGO) Stock

Perrigo Company plc (NYSE:PRGO) Director Geoffrey Parker acquired 4,375 shares of Perrigo stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average price of $22.97 per share, with a total value of $100,493.75. Following the purchase, the director owned 33,287 shares in the company, valued at $764,602.39. This represents a 15.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Perrigo Trading Up 0.4%

NYSE PRGO opened at $23.6850 on Thursday. The company has a quick ratio of 1.24, a current ratio of 2.32 and a debt-to-equity ratio of 0.81. Perrigo Company plc has a 52 week low of $21.03 and a 52 week high of $30.93. The firm has a market cap of $3.26 billion, a PE ratio of -40.84 and a beta of 0.47. The company has a 50 day moving average price of $26.20 and a 200 day moving average price of $26.24.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the company posted $0.53 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, sell-side analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a yield of 4.9%. Perrigo’s dividend payout ratio is presently -200.00%.

Institutional Trading of Perrigo

A number of hedge funds have recently added to or reduced their stakes in PRGO. Price T Rowe Associates Inc. MD boosted its holdings in Perrigo by 6,828.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,845,539 shares of the company’s stock worth $201,710,000 after buying an additional 7,732,309 shares in the last quarter. Millennium Management LLC boosted its holdings in Perrigo by 5,198.0% during the first quarter. Millennium Management LLC now owns 2,052,599 shares of the company’s stock worth $57,555,000 after buying an additional 2,013,856 shares in the last quarter. Norges Bank purchased a new stake in Perrigo during the second quarter worth $36,755,000. Ion Asset Management Ltd. boosted its holdings in Perrigo by 34.7% during the second quarter. Ion Asset Management Ltd. now owns 3,817,621 shares of the company’s stock worth $102,007,000 after buying an additional 983,727 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Perrigo by 126.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,159,768 shares of the company’s stock worth $32,520,000 after buying an additional 647,982 shares in the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Perrigo from $38.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Canaccord Genuity Group cut their price target on shares of Perrigo from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $33.00.

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.