Perrigo Company plc (NYSE:PRGO) EVP James E. Dillard III Sells 9,000 Shares

Perrigo Company plc (NYSE:PRGO – Get Rating) EVP James E. Dillard III sold 9,000 shares of the firm’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $35.70, for a total value of $321,300.00. Following the transaction, the executive vice president now directly owns 25,130 shares in the company, valued at $897,141. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Perrigo Stock Up 1.8 %

NYSE PRGO opened at $35.92 on Wednesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.44 and a quick ratio of 1.41. Perrigo Company plc has a 1 year low of $30.78 and a 1 year high of $43.90. The business’s 50-day moving average is $36.55 and its 200 day moving average is $36.21.

Perrigo (NYSE:PRGO – Get Rating) last posted its earnings results on Monday, February 27th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.05. Perrigo had a positive return on equity of 5.79% and a negative net margin of 2.91%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the firm earned $0.60 earnings per share. Perrigo’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Perrigo Company plc will post 2.61 EPS for the current fiscal year.

Perrigo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Shareholders of record on Friday, March 10th will be issued 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 yield of 3.04%. Perrigo’s dividend payout ratio (DPR) is -113.54%.

Institutional Trading of Perrigo

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wolf Hill Capital Management LP purchased a new position in shares of Perrigo during the fourth quarter valued at approximately $50,203,000. Point72 Asset Management L.P. purchased a new position in shares of Perrigo during the second quarter valued at approximately $59,147,000. Norges Bank purchased a new position in shares of Perrigo during the fourth quarter valued at approximately $45,075,000. Ceredex Value Advisors LLC purchased a new position in Perrigo in the 4th quarter worth approximately $38,438,000. Finally, Millennium Management LLC raised its holdings in Perrigo by 256.1% in the 4th quarter. Millennium Management LLC now owns 1,420,648 shares of the company’s stock worth $48,430,000 after acquiring an additional 1,021,709 shares during the last quarter. 94.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a research note on Wednesday, March 8th. Raymond James raised their target price on Perrigo from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Sunday, March 5th. Finally, Canaccord Genuity Group initiated coverage on Perrigo in a research note on Tuesday, March 7th. They issued a “buy” rating and a $49.00 target price on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Perrigo currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Perrigo Company Profile

(Get Rating)

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).