Insider Buying: Perrigo (NYSE:PRGO) EVP Buys 1,255 Shares of Stock

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 acquired 1,255 shares of Perrigo stock in a transaction that occurred on Monday, September 8th. The stock was bought at an average price of $22.41 per share, with a total value of $28,124.55. Following the purchase, the executive vice president directly owned 1,255 shares of the company's stock, valued at approximately $28,124.55. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Perrigo Price Performance

Shares of NYSE PRGO traded down $0.18 during midday trading on Wednesday, hitting $22.11. The company had a trading volume of 1,214,612 shares, compared to its average volume of 1,489,672. The company has a quick ratio of 1.24, a current ratio of 2.32 and a debt-to-equity ratio of 0.81. Perrigo Company plc has a twelve month low of $21.03 and a twelve month high of $30.93. The business has a 50-day simple moving average of $25.30 and a two-hundred day simple moving average of $26.12. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -38.11 and a beta of 0.48.

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

Perrigo Dividend Announcement

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 issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 5.2%. The ex-dividend date is Friday, August 29th. Perrigo's dividend payout ratio (DPR) is -200.00%.

Institutional Investors Weigh In On Perrigo

A number of institutional investors have recently bought and sold shares of PRGO. Price T Rowe Associates Inc. MD grew its holdings in Perrigo by 41.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,073,026 shares of the company's stock valued at $310,488,000 after purchasing an additional 3,227,487 shares during the period. Millennium Management LLC grew its stake in Perrigo by 5,198.0% during the first quarter. Millennium Management LLC now owns 2,052,599 shares of the company's stock worth $57,555,000 after buying an additional 2,013,856 shares during the period. Norges Bank purchased a new stake in Perrigo during the second quarter worth approximately $36,755,000. Ion Asset Management Ltd. grew its stake in Perrigo by 34.7% during the second quarter. Ion Asset Management Ltd. now owns 3,817,621 shares of the company's stock worth $102,007,000 after buying an additional 983,727 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Perrigo by 126.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,159,768 shares of the company's stock worth $32,520,000 after buying an additional 647,982 shares during the period. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRGO has been the subject of several recent research reports. Canaccord Genuity Group dropped their target price on shares of Perrigo from $42.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Wall Street Zen raised shares of Perrigo from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Perrigo from $38.00 to $35.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $33.00.

About Perrigo

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.

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