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.
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.
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