Perrigo Sees Unusually Large Options Volume (NYSE:PRGO)

Perrigo Company plc (NYSE:PRGO - Get Free Report) saw some unusual options trading on Wednesday. Traders bought 20,065 call options on the stock. This is an increase of approximately 988% compared to the typical daily volume of 1,844 call options.

Perrigo Price Performance

Shares of NYSE PRGO traded down $0.07 during midday trading on Wednesday, reaching $30.22. 1,986,965 shares of the company were exchanged, compared to its average volume of 1,775,538. Perrigo has a one year low of $25.77 and a one year high of $40.28. The stock has a market cap of $4.12 billion, a P/E ratio of -432.43 and a beta of 0.63. The company has a quick ratio of 1.08, a current ratio of 1.81 and a debt-to-equity ratio of 0.77. The stock's 50-day moving average price is $31.11 and its 200-day moving average price is $31.00.

Perrigo (NYSE:PRGO - Get Free Report) last issued its earnings results on Saturday, May 4th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.06. Perrigo had a positive return on equity of 6.96% and a negative net margin of 0.17%. The business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The business's revenue for the quarter was down 8.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Perrigo will post 2.57 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Friday, May 31st will be given a $0.276 dividend. This represents a $1.10 annualized dividend and a yield of 3.65%. The ex-dividend date is Friday, May 31st. Perrigo's dividend payout ratio (DPR) is currently -1,571.43%.

Analyst Upgrades and Downgrades

PRGO has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Perrigo from $48.00 to $41.00 and set an "overweight" rating for the company in a research report on Wednesday, February 28th. Piper Sandler raised their target price on Perrigo from $35.00 to $39.00 and gave the company an "overweight" rating in a report on Monday, April 8th. Canaccord Genuity Group reiterated a "buy" rating and issued a $42.00 price target on shares of Perrigo in a research note on Friday, April 12th. Finally, StockNews.com downgraded Perrigo from a "buy" rating to a "hold" rating in a research report on Wednesday, May 8th.

Insider Transactions at Perrigo

In other news, EVP Robert Willis bought 6,000 shares of the company's stock in a transaction dated Thursday, February 29th. The stock was bought at an average price of $25.87 per share, with a total value of $155,220.00. Following the completion of the acquisition, the executive vice president now owns 25,105 shares of the company's stock, valued at $649,466.35. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Robert Willis purchased 6,000 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average cost of $25.87 per share, for a total transaction of $155,220.00. Following the completion of the purchase, the executive vice president now owns 25,105 shares in the company, valued at approximately $649,466.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Patrick Lockwood-Taylor acquired 9,500 shares of the stock in a transaction on Thursday, February 29th. The shares were bought at an average price of $26.54 per share, for a total transaction of $252,130.00. Following the purchase, the chief executive officer now owns 20,500 shares in the company, valued at $544,070. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 17,990 shares of company stock worth $475,227. Company insiders own 0.70% of the company's stock.

Hedge Funds Weigh In On Perrigo

Several large investors have recently modified their holdings of the business. GAMMA Investing LLC bought a new position in Perrigo during the 4th quarter worth $30,000. Parkside Financial Bank & Trust lifted its stake in shares of Perrigo by 1,694.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company's stock worth $34,000 after acquiring an additional 983 shares during the period. Hexagon Capital Partners LLC bought a new stake in Perrigo in the fourth quarter valued at approximately $37,000. Central Pacific Bank Trust Division acquired a new stake in Perrigo during the 1st quarter valued at approximately $48,000. Finally, Blue Trust Inc. raised its holdings in Perrigo by 34.5% during the 4th quarter. Blue Trust Inc. now owns 1,556 shares of the company's stock worth $50,000 after purchasing an additional 399 shares during the last quarter. 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.