Insider Buying: Perrigo (NYSE:PRGO) Director Acquires 4,375 Shares of Stock

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Perrigo Company plc (NYSE:PRGO - Get Free Report) Director Geoffrey M. Parker acquired 4,375 shares of Perrigo stock in a transaction on Monday, August 18th. The shares were bought at an average cost of $22.97 per share, for a total transaction of $100,493.75. Following the completion of the transaction, the director owned 33,287 shares in the company, valued at approximately $764,602.39. This trade represents a 15.13% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Perrigo Trading Up 4.5%

Perrigo stock traded up $1.0640 during mid-day trading on Friday, reaching $24.4940. 2,472,880 shares of the company traded hands, compared to its average volume of 1,953,982. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24. The firm's 50 day moving average price is $26.08 and its 200 day moving average price is $26.23. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of -42.23 and a beta of 0.47. Perrigo Company plc has a 52-week low of $21.03 and a 52-week high of $30.93.

Perrigo (NYSE:PRGO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.02). The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.08 billion. Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. The firm's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. On average, analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.7%. Perrigo's dividend payout ratio is currently -200.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Perrigo from $38.00 to $35.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Canaccord Genuity Group reduced their target price on shares of Perrigo from $42.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Finally, Wall Street Zen downgraded shares of Perrigo from a "buy" rating to a "hold" rating in a research report on Sunday. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $33.00.

Hedge Funds Weigh In On Perrigo

Several hedge funds and other institutional investors have recently bought and sold shares of PRGO. Geneos Wealth Management Inc. lifted its stake in Perrigo by 439.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 965 shares of the company's stock valued at $27,000 after acquiring an additional 786 shares during the period. Huntington National Bank lifted its stake in Perrigo by 237.8% during the 2nd quarter. Huntington National Bank now owns 1,054 shares of the company's stock valued at $28,000 after acquiring an additional 742 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Perrigo by 54.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the company's stock valued at $32,000 after acquiring an additional 424 shares during the period. Hantz Financial Services Inc. lifted its stake in Perrigo by 101.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,234 shares of the company's stock valued at $33,000 after acquiring an additional 620 shares during the period. Finally, Picton Mahoney Asset Management bought a new position in Perrigo during the 1st quarter valued at about $42,000. Institutional investors own 95.91% of the company's stock.

Perrigo Company Profile

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.