Insider Buying: Perrigo (NYSE:PRGO) Director Purchases 7,500 Shares of Stock

Perrigo Company plc (NYSE:PRGO) Director Geoffrey Parker acquired 7,500 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was purchased at an average cost of $14.18 per share, with a total value of $106,350.00. Following the completion of the transaction, the director owned 17,375 shares in the company, valued at $246,377.50. The trade was a 75.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Perrigo Price Performance

Shares of NYSE:PRGO traded down $0.15 during trading hours on Friday, hitting $13.82. 1,774,782 shares of the company’s stock traded hands, compared to its average volume of 1,705,094. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 2.32. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -23.80 and a beta of 0.42. The company’s fifty day simple moving average is $20.59 and its two-hundred day simple moving average is $24.12. Perrigo Company plc has a 52 week low of $13.46 and a 52 week high of $30.93.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.10 billion. Perrigo had a positive return on equity of 9.09% and a negative net margin of 1.86%.The firm’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business earned $0.81 EPS. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. As a group, equities analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 28th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 8.4%. The ex-dividend date is Friday, November 28th. Perrigo’s payout ratio is presently -305.26%.

Institutional Trading of Perrigo

Several institutional investors and hedge funds have recently modified their holdings of PRGO. Price T Rowe Associates Inc. MD boosted its stake in shares of Perrigo by 41.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,073,026 shares of the company’s stock worth $310,488,000 after buying an additional 3,227,487 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Perrigo by 2.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 7,695,238 shares of the company’s stock worth $171,367,000 after purchasing an additional 181,828 shares in the last quarter. State Street Corp grew its stake in Perrigo by 9.5% during the second quarter. State Street Corp now owns 7,340,323 shares of the company’s stock valued at $196,134,000 after acquiring an additional 637,678 shares in the last quarter. Ion Asset Management Ltd. grew its holdings in shares of 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 purchasing an additional 983,727 shares in the last quarter. Finally, Cooke & Bieler LP raised its position in Perrigo by 11.6% during the third quarter. Cooke & Bieler LP now owns 3,680,411 shares of the company’s stock valued at $81,963,000 after purchasing an additional 381,290 shares in the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PRGO shares. Wall Street Zen cut Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Canaccord Genuity Group cut their price objective on shares of Perrigo from $40.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Zacks Research lowered Perrigo from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Perrigo in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $20.00 price objective (down from $32.00) on shares of Perrigo in a report on Thursday, November 6th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Perrigo currently has a consensus rating of “Reduce” and a consensus target price of $22.50.

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.