Perrigo Company plc (NYSE:PRGO – Get Rating) Director Geoffrey M. Parker purchased 5,000 shares of the company's stock in a transaction that occurred on Monday, March 6th. The shares were acquired at an average cost of $38.05 per share, with a total value of $190,250.00. Following the completion of the purchase, the director now owns 15,879 shares of the company's stock, valued at $604,195.95. The acquisition was disclosed in a filing with the SEC, which is available at this link.
Perrigo Stock Performance
Shares of PRGO stock opened at $37.06 on Thursday. The stock has a market cap of $4.99 billion, a P/E ratio of -38.60 and a beta of 0.79. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.44 and a quick ratio of 1.41. The company has a fifty day moving average price of $36.44 and a two-hundred day moving average price of $36.32. Perrigo Company plc has a one year low of $30.78 and a one year high of $43.90.
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Perrigo (NYSE:PRGO – Get Rating) last announced its quarterly earnings results on Monday, February 27th. The company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.05. The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.20 billion. Perrigo had a negative net margin of 2.91% and a positive return on equity of 5.79%. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 earnings per share. As a group, equities analysts predict that Perrigo Company plc will post 2.61 EPS for the current year.
Perrigo Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Stockholders of record on Friday, March 10th will be given a $0.273 dividend. The ex-dividend date of this dividend is Thursday, March 9th. This is a positive change from Perrigo's previous quarterly dividend of $0.26. This represents a $1.09 annualized dividend and a dividend yield of 2.95%. Perrigo's dividend payout ratio is presently -108.33%.
Hedge Funds Weigh In On Perrigo
Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Perrigo by 1.5% in the third quarter. Vanguard Group Inc. now owns 14,328,895 shares of the company's stock valued at $510,968,000 after purchasing an additional 215,794 shares during the period. BlackRock Inc. raised its position in shares of Perrigo by 4.8% in the first quarter. BlackRock Inc. now owns 12,112,154 shares of the company's stock valued at $465,469,000 after purchasing an additional 554,915 shares during the period. Dimensional Fund Advisors LP increased its position in Perrigo by 12.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,421,604 shares of the company's stock worth $218,913,000 after acquiring an additional 690,137 shares during the period. State Street Corp increased its position in Perrigo by 4.8% during the first quarter. State Street Corp now owns 4,270,353 shares of the company's stock worth $164,110,000 after acquiring an additional 193,783 shares during the period. Finally, Cooke & Bieler LP increased its position in Perrigo by 23.2% during the fourth quarter. Cooke & Bieler LP now owns 3,916,653 shares of the company's stock worth $133,519,000 after acquiring an additional 736,870 shares during the period. 94.09% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several brokerages have commented on PRGO. Raymond James upped their target price on shares of Perrigo from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Sunday. StockNews.com downgraded shares of Perrigo from a "buy" rating to a "hold" rating in a research note on Wednesday. Finally, Canaccord Genuity Group assumed coverage on shares of Perrigo in a research note on Tuesday. They issued a "buy" rating and a $49.00 target price for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $48.00.
About Perrigo
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Perrigo Co Plc engages in the provision of self-care products and over-the-counter (OTC) health and wellness solutions. It enhances individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. It operates through the following segments: Consumer Self-Care Americas (CSCA) and Consumer Self-Care International (CSCI).
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