Abigail Lennox Acquires 1,255 Shares of Perrigo (NYSE:PRGO) Stock

Perrigo Company plc (NYSE:PRGO) EVP Abigail Lennox bought 1,255 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were purchased at an average cost of $22.41 per share, with a total value of $28,124.55. Following the completion of the transaction, the executive vice president owned 1,255 shares in the company, valued at $28,124.55. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Perrigo Trading Up 1.8%

Shares of NYSE PRGO opened at $22.52 on Friday. The firm has a market cap of $3.10 billion, a PE ratio of -38.82 and a beta of 0.48. 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 twelve month low of $21.03 and a twelve month high of $30.93. The business has a fifty day simple moving average of $25.10 and a two-hundred day simple moving average of $26.07.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 EPS 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 positive return on equity of 9.09% and a negative net margin of 1.86%.The company’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 earnings per share. Analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The business also recently declared 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. This represents a $1.16 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, August 29th. Perrigo’s payout ratio is presently -200.00%.

Analysts Set New Price Targets

Several research analysts have recently commented on PRGO shares. Wall Street Zen raised Perrigo from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. JPMorgan Chase & Co. reduced their price target on Perrigo from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Finally, Canaccord Genuity Group reduced their target price on Perrigo from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Perrigo presently has an average rating of “Hold” and a consensus target price of $33.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PRGO. Geneos Wealth Management Inc. grew its stake in Perrigo by 439.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock valued at $27,000 after purchasing an additional 786 shares during the last quarter. Huntington National Bank grew its stake in Perrigo by 237.8% during the 2nd quarter. Huntington National Bank now owns 1,054 shares of the company’s stock valued at $28,000 after purchasing an additional 742 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Perrigo by 54.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the company’s stock valued at $32,000 after purchasing an additional 424 shares during the last quarter. Hantz Financial Services Inc. grew its stake in Perrigo by 101.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,234 shares of the company’s stock valued at $33,000 after purchasing an additional 620 shares during the last quarter. Finally, Picton Mahoney Asset Management purchased a new stake in Perrigo during the 1st quarter valued at about $42,000. 95.91% of the stock is owned by institutional investors and hedge funds.

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.