Perrigo (NYSE:PRGO) CFO Eduardo Guarita Bezerra Buys 3,000 Shares

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Perrigo Company plc (NYSE:PRGO - Get Free Report) CFO Eduardo Guarita Bezerra acquired 3,000 shares of the stock in a transaction dated Monday, August 18th. The stock was acquired at an average price of $22.74 per share, for a total transaction of $68,220.00. Following the purchase, the chief financial officer directly owned 48,949 shares in the company, valued at approximately $1,113,100.26. This trade represents a 6.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

Perrigo Stock Performance

Shares of NYSE:PRGO traded up $1.0640 during trading on Friday, hitting $24.4940. The company's stock had a trading volume of 2,472,880 shares, compared to its average volume of 1,953,982. The company has a 50-day moving average of $26.08 and a 200-day moving average of $26.23. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of -42.23 and a beta of 0.47. Perrigo Company plc has a 12 month low of $21.03 and a 12 month high of $30.93. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24.

Perrigo (NYSE:PRGO - Get Free Report) last issued its quarterly 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 firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the prior year, the firm earned $0.53 EPS. Perrigo's revenue for the quarter was down .9% compared to the same quarter last year. On average, sell-side analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The firm also recently declared 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. This represents a $1.16 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Friday, August 29th. Perrigo's dividend payout ratio is presently -200.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PRGO. Canaccord Genuity Group lowered their price objective on Perrigo from $42.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Wall Street Zen downgraded Perrigo from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, JPMorgan Chase & Co. dropped their price target on Perrigo from $38.00 to $35.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $33.00.

Hedge Funds Weigh In On Perrigo

Hedge funds have recently modified their holdings of the stock. Geneos Wealth Management Inc. lifted its holdings in shares of Perrigo by 439.1% in the first quarter. Geneos Wealth Management Inc. now owns 965 shares of the company's stock worth $27,000 after buying an additional 786 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Perrigo by 237.8% in the second quarter. Huntington National Bank now owns 1,054 shares of the company's stock worth $28,000 after buying an additional 742 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Perrigo by 54.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the company's stock worth $32,000 after buying an additional 424 shares in the last quarter. Hantz Financial Services Inc. boosted its position in shares of 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 last quarter. Finally, Picton Mahoney Asset Management bought a new position in shares of Perrigo during the 1st quarter valued at approximately $42,000. Hedge funds and other institutional investors 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.