Eduardo Guarita Bezerra Acquires 3,000 Shares of Perrigo (NYSE:PRGO) Stock

Perrigo Company plc (NYSE:PRGO) CFO Eduardo Guarita Bezerra purchased 3,000 shares of the company’s stock in a transaction on Monday, August 18th. The shares were purchased at an average cost of $22.74 per share, for a total transaction of $68,220.00. Following the completion of the transaction, the chief financial officer directly owned 48,949 shares of the company’s stock, valued at approximately $1,113,100.26. This represents a 6.53% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Perrigo Price Performance

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

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

Perrigo Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PRGO shares. JPMorgan Chase & Co. dropped their price objective on shares of Perrigo from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Canaccord Genuity Group lowered their price target on shares of Perrigo from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Finally, Wall Street Zen raised shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $33.00.

Institutional Investors Weigh In On Perrigo

A number of large investors have recently bought and sold shares of PRGO. Price T Rowe Associates Inc. MD grew its stake 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 grew its stake 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 acquired a new stake in Perrigo during the second quarter worth about $36,755,000. Ion Asset Management Ltd. grew its stake 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. grew its stake 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 currently owned by institutional investors and hedge funds.

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.