Perrigo Target of Unusually Large Options Trading (PRGO)

Perrigo Company PLC (NYSE:PRGO) was the recipient of unusually large options trading activity on Tuesday. Stock traders bought 3,561 call options on the company. This is an increase of approximately 1,359% compared to the typical volume of 244 call options.

PRGO opened at $50.60 on Wednesday. The firm has a market capitalization of $6.85 billion, a P/E ratio of 11.12, a P/E/G ratio of 2.58 and a beta of 1.31. Perrigo has a 12 month low of $36.28 and a 12 month high of $83.26. The company has a current ratio of 1.89, a quick ratio of 1.32 and a debt-to-equity ratio of 0.54.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Wednesday, February 27th. The company reported $0.97 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.01). The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.18 billion. Perrigo had a net margin of 2.77% and a return on equity of 10.74%. The company’s revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 earnings per share. As a group, equities analysts forecast that Perrigo will post 4.17 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Friday, March 1st were given a $0.19 dividend. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $0.76 annualized dividend and a yield of 1.50%. Perrigo’s dividend payout ratio is currently 16.70%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Atlas Capital Advisors LLC bought a new stake in Perrigo during the 4th quarter worth about $26,000. Moody National Bank Trust Division bought a new stake in Perrigo during the 1st quarter worth about $32,000. Oregon Public Employees Retirement Fund lifted its position in Perrigo by 3,574.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,430,805 shares of the company’s stock worth $37,000 after buying an additional 1,391,870 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Perrigo by 822.2% in the 4th quarter. Advisor Group Inc. now owns 1,079 shares of the company’s stock valued at $41,000 after purchasing an additional 962 shares during the period. Finally, Covington Capital Management bought a new stake in shares of Perrigo in the 4th quarter valued at about $46,000. 85.29% of the stock is currently owned by institutional investors and hedge funds.

PRGO has been the subject of several research analyst reports. ValuEngine lowered shares of Perrigo from a “hold” rating to a “sell” rating in a report on Thursday, December 20th. Wells Fargo & Co decreased their price target on shares of Perrigo from $64.00 to $46.00 and set a “market perform” rating for the company in a report on Friday, December 21st. Cantor Fitzgerald set a $107.00 price target on shares of Perrigo and gave the company a “buy prgo” rating in a report on Thursday, December 20th. Morgan Stanley set a $67.00 price target on shares of Perrigo and gave the company a “hold” rating in a report on Sunday, December 23rd. Finally, Leerink Swann decreased their price target on shares of Perrigo from $70.00 to $56.00 in a report on Monday, December 24th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. Perrigo has an average rating of “Hold” and a consensus price target of $74.33.

ILLEGAL ACTIVITY WARNING: “Perrigo Target of Unusually Large Options Trading (PRGO)” was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this news story on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2019/04/17/perrigo-target-of-unusually-large-options-trading-prgo.html.

Perrigo Company Profile

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

Further Reading: What moving averages are used to define a golden cross?

Receive News & Ratings for Perrigo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perrigo and related companies with MarketBeat.com's FREE daily email newsletter.