Perrigo Company plc (NYSE:PRGO) EVP Ronald Craig Janish Sells 7,800 Shares of Stock

Perrigo Company plc (NYSE:PRGO) EVP Ronald Craig Janish sold 7,800 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $27.44, for a total transaction of $214,032.00. Following the transaction, the executive vice president now directly owns 33,666 shares of the company’s stock, valued at approximately $923,795.04. This trade represents a 18.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Perrigo Trading Down 1.0 %

PRGO stock opened at $27.48 on Tuesday. 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 52-week low of $23.14 and a 52-week high of $33.46. The company’s 50-day simple moving average is $25.30 and its 200-day simple moving average is $26.22. The firm has a market cap of $3.75 billion, a P/E ratio of -23.49 and a beta of 0.48.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.92 by $0.01. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. As a group, equities analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders 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 a boost from Perrigo’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 4.22%. Perrigo’s dividend payout ratio is currently -92.80%.

Analysts Set New Price Targets

PRGO has been the subject of a number of recent research reports. Piper Sandler lowered Perrigo from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $34.00 to $27.00 in a research note on Monday, January 6th. Argus cut Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, StockNews.com lowered Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Perrigo has a consensus rating of “Hold” and an average price target of $33.00.

Institutional Trading of Perrigo

Several institutional investors have recently modified their holdings of PRGO. Franklin Resources Inc. purchased a new position in Perrigo in the 3rd quarter valued at about $3,717,000. Foundry Partners LLC purchased a new position in shares of Perrigo in the third quarter valued at approximately $7,111,000. Barclays PLC boosted its stake in shares of Perrigo by 44.8% in the third quarter. Barclays PLC now owns 120,502 shares of the company’s stock worth $3,160,000 after acquiring an additional 37,268 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Perrigo by 65.1% during the third quarter. JPMorgan Chase & Co. now owns 541,000 shares of the company’s stock worth $14,190,000 after purchasing an additional 213,221 shares in the last quarter. Finally, Citigroup Inc. raised its stake in Perrigo by 94.1% in the 3rd quarter. Citigroup Inc. now owns 151,520 shares of the company’s stock valued at $3,974,000 after purchasing an additional 73,457 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

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.