Insider Selling: 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 the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $29.40, for a total transaction of $382,200.00. Following the completion of the sale, the executive vice president now owns 20,553 shares of the company’s stock, valued at approximately $604,258.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Perrigo Price Performance

Shares of NYSE PRGO opened at $29.09 on Friday. The company has a fifty day moving average price of $27.45 and a 200 day moving average price of $29.04. Perrigo Company plc has a 1-year low of $24.82 and a 1-year high of $36.66. The firm has a market cap of $3.97 billion, a PE ratio of -415.57 and a beta of 0.51. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 0.80.

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

Perrigo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th will be issued a $0.276 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.80%. Perrigo’s dividend payout ratio (DPR) is presently -1,571.43%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PRGO. abrdn plc bought a new stake in Perrigo during the 4th quarter worth about $1,422,000. Signaturefd LLC raised its holdings in Perrigo by 25.6% during the fourth quarter. Signaturefd LLC now owns 2,240 shares of the company’s stock worth $72,000 after acquiring an additional 457 shares in the last quarter. GAMMA Investing LLC acquired a new position in Perrigo during the fourth quarter valued at approximately $30,000. State of New Jersey Common Pension Fund D grew its stake in Perrigo by 18.1% in the fourth 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 purchasing an additional 12,603 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of 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 purchasing an additional 657 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PRGO. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Piper Sandler decreased their price objective on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a research report 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.