Perrigo (PRGO) Director Jeffrey C. Smith Purchases 250,000 Shares of Stock

Perrigo (NYSE:PRGO) Director Jeffrey C. Smith purchased 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The shares were bought at an average cost of $75.21 per share, for a total transaction of $18,802,500.00. Following the completion of the acquisition, the director now directly owns 528 shares in the company, valued at approximately $39,710.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

PRGO traded up $0.22 during trading on Friday, reaching $76.08. 20,685 shares of the company’s stock were exchanged, compared to its average volume of 1,108,458. Perrigo has a one year low of $75.66 and a one year high of $76.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.08 and a quick ratio of 1.48. The firm has a market capitalization of $10.48 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.78 and a beta of 0.77.

Perrigo (NYSE:PRGO) last posted its earnings results on Tuesday, May 8th. The company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.12. Perrigo had a net margin of 2.59% and a return on equity of 11.93%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the firm posted $1.05 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. equities research analysts predict that Perrigo will post 5.25 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 19th. Stockholders of record on Friday, June 1st will be given a $0.19 dividend. The ex-dividend date is Thursday, May 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.00%. Perrigo’s dividend payout ratio (DPR) is currently 15.42%.

Several equities research analysts recently issued reports on PRGO shares. JPMorgan Chase reaffirmed a “neutral” rating and set a $83.00 price target (up from $82.00) on shares of Perrigo in a report on Monday, March 5th. Oppenheimer reaffirmed a “buy” rating and set a $98.00 price target on shares of Perrigo in a report on Tuesday, February 27th. Cantor Fitzgerald set a $107.00 price target on shares of Perrigo and gave the company a “buy” rating in a report on Friday, January 19th. Canaccord Genuity set a $105.00 price target on shares of Perrigo and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, Berenberg Bank started coverage on shares of Perrigo in a report on Thursday, February 1st. They set a “buy” rating and a $117.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $93.06.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Perrigo by 1.0% in the 1st quarter. BlackRock Inc. now owns 8,682,619 shares of the company’s stock worth $723,608,000 after purchasing an additional 82,207 shares during the period. Franklin Resources Inc. lifted its position in shares of Perrigo by 1.8% in the 1st quarter. Franklin Resources Inc. now owns 8,251,229 shares of the company’s stock worth $687,659,000 after purchasing an additional 147,284 shares during the period. Victory Capital Management Inc. lifted its position in shares of Perrigo by 20.2% in the 1st quarter. Victory Capital Management Inc. now owns 2,460,942 shares of the company’s stock worth $205,096,000 after purchasing an additional 413,962 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Perrigo by 36.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,963,646 shares of the company’s stock worth $163,650,000 after purchasing an additional 527,025 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Perrigo by 23.5% in the 4th quarter. Millennium Management LLC now owns 1,478,782 shares of the company’s stock worth $128,891,000 after purchasing an additional 281,267 shares during the period. Hedge funds and other institutional investors own 79.52% of the company’s stock.

About Perrigo

Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.

Insider Buying and Selling by Quarter for Perrigo (NYSE:PRGO)

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