Insider Selling: Perrigo Company plc (NYSE:PRGO) EVP Sells 7,800 Shares of Stock

Perrigo Company plc (NYSE:PRGO) EVP Ronald Craig Janish sold 7,800 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $27.44, for a total value of $214,032.00. Following the completion of the transaction, the executive vice president now owns 33,666 shares of the company’s stock, valued at $923,795.04. The trade was a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Perrigo Stock Down 1.0 %

Perrigo stock traded down $0.28 during mid-day trading on Monday, reaching $27.48. 2,107,241 shares of the company’s stock were exchanged, compared to its average volume of 1,450,457. The company has a fifty day moving average of $25.30 and a 200-day moving average of $26.22. The company has a market cap of $3.75 billion, a P/E ratio of -23.49 and a beta of 0.48. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $33.46.

Perrigo (NYSE:PRGO) last released its earnings results on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. Sell-side analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Perrigo’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.22%. Perrigo’s payout ratio is currently -92.80%.

Institutional Trading of Perrigo

Several hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in Perrigo by 6,828.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,845,539 shares of the company’s stock worth $201,710,000 after acquiring an additional 7,732,309 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Perrigo by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,989,530 shares of the company’s stock valued at $179,698,000 after buying an additional 27,835 shares during the last quarter. Deprince Race & Zollo Inc. increased its position in Perrigo by 1.1% in the 4th quarter. Deprince Race & Zollo Inc. now owns 4,557,844 shares of the company’s stock valued at $117,182,000 after acquiring an additional 50,728 shares during the period. Cooke & Bieler LP raised its stake in Perrigo by 4.1% during the 4th quarter. Cooke & Bieler LP now owns 3,573,651 shares of the company’s stock valued at $91,879,000 after acquiring an additional 139,650 shares during the last quarter. Finally, Ion Asset Management Ltd. lifted its position in Perrigo by 50.1% during the 4th quarter. Ion Asset Management Ltd. now owns 2,820,000 shares of the company’s stock worth $72,502,000 after acquiring an additional 941,667 shares during the period. Institutional investors and hedge funds own 95.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PRGO shares. Piper Sandler downgraded Perrigo from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $34.00 to $27.00 in a research report on Monday, January 6th. Argus cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $33.00.

Perrigo Company Profile

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.