Perrigo (NYSE:PRGO) EVP Abigail Lennox Purchases 1,255 Shares

Key Points

• Abigail Lennox, EVP of Perrigo, purchased **1,255 shares** of the company's stock at an average price of $22.41 per share, totaling **$28,124.55**.
• Perrigo recently reported **earnings per share of $0.57**, missing estimates by $0.02, with revenues of **$1.06 billion** for the quarter.
• The company declared a **quarterly dividend of $0.29 per share**, which will be paid on **September 16th**, providing an annualized yield of **5.2%**.

Perrigo Company plc (NYSE:PRGO - Get Free Report) EVP Abigail Lennox purchased 1,255 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were bought at an average price of $22.41 per share, for a total transaction of $28,124.55. Following the acquisition, the executive vice president directly owned 1,255 shares in the company, valued at $28,124.55. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Perrigo Trading Down 2.3%

NYSE:PRGO traded down $0.52 during midday trading on Monday, hitting $21.76. 1,654,591 shares of the company traded hands, compared to its average volume of 1,424,538. The firm's fifty day moving average is $24.91 and its 200-day moving average is $26.02. Perrigo Company plc has a 12-month low of $21.03 and a 12-month high of $30.93. The firm has a market capitalization of $2.99 billion, a P/E ratio of -37.51 and a beta of 0.48. The company has a current ratio of 2.32, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81.

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

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 29th will be paid a $0.29 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a yield of 5.3%. Perrigo's dividend payout ratio (DPR) is presently -200.00%.

Hedge Funds Weigh In On Perrigo

Institutional investors have recently made changes to their positions in the company. American Assets Inc. bought a new stake in Perrigo during the fourth quarter valued at about $386,000. BNP Paribas Financial Markets boosted its position in Perrigo by 80.7% during the fourth quarter. BNP Paribas Financial Markets now owns 207,717 shares of the company's stock valued at $5,340,000 after purchasing an additional 92,780 shares in the last quarter. Baird Financial Group Inc. boosted its position in Perrigo by 8.8% during the fourth quarter. Baird Financial Group Inc. now owns 13,029 shares of the company's stock valued at $335,000 after purchasing an additional 1,053 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Perrigo during the fourth quarter valued at about $465,000. Finally, Quantinno Capital Management LP boosted its position in Perrigo by 687.2% during the fourth quarter. Quantinno Capital Management LP now owns 155,033 shares of the company's stock valued at $3,986,000 after purchasing an additional 135,338 shares in the last quarter. Hedge funds and other institutional investors own 95.91% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PRGO. Canaccord Genuity Group reduced their target price on Perrigo from $42.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. JPMorgan Chase & Co. reduced their target price on Perrigo from $38.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded Perrigo from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $33.00.

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.