Perrigo Company plc (NYSE:PRGO) Short Interest Up 22.1% in April

Perrigo Company plc (NYSE:PRGO - Get Free Report) saw a large growth in short interest in April. As of April 15th, there was short interest totalling 4,860,000 shares, a growth of 22.1% from the March 31st total of 3,980,000 shares. Based on an average daily trading volume, of 1,660,000 shares, the days-to-cover ratio is presently 2.9 days. Approximately 3.6% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

PRGO has been the subject of several research reports. Argus downgraded shares of Perrigo from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. StockNews.com downgraded Perrigo from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Perrigo presently has an average rating of "Hold" and an average price target of $33.00.

Perrigo Trading Up 1.2 %

Shares of NYSE PRGO traded up $0.32 during trading on Thursday, reaching $26.73. The company had a trading volume of 2,689,962 shares, compared to its average volume of 1,526,364. Perrigo has a 12 month low of $23.14 and a 12 month high of $31.32. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The stock has a market cap of $3.65 billion, a P/E ratio of -22.85 and a beta of 0.45. The company's fifty day moving average price is $26.48 and its 200-day moving average price is $26.10.

Perrigo (NYSE:PRGO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.09 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The company's revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 EPS. As a group, research analysts expect that Perrigo will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Friday, May 30th. Perrigo's payout ratio is -92.80%.

Insider Activity

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $27.44, for a total transaction of $214,032.00. Following the completion of the transaction, the executive vice president now owns 33,666 shares of the company's stock, valued at approximately $923,795.04. The trade was a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company's stock.

Institutional Trading of Perrigo

Hedge funds have recently bought and sold shares of the business. State of Michigan Retirement System lifted its position in Perrigo by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 32,658 shares of the company's stock valued at $916,000 after acquiring an additional 400 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Perrigo by 2.1% during the 4th quarter. Pacer Advisors Inc. now owns 20,337 shares of the company's stock worth $523,000 after acquiring an additional 427 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Perrigo by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 15,984 shares of the company's stock worth $448,000 after acquiring an additional 430 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Perrigo by 2.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,617 shares of the company's stock valued at $567,000 after purchasing an additional 436 shares in the last quarter. Finally, Cedar Wealth Management LLC boosted its holdings in Perrigo by 2.1% during the fourth quarter. Cedar Wealth Management LLC now owns 21,966 shares of the company's stock worth $565,000 after purchasing an additional 450 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company's stock.

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.