Perrigo Company plc (NYSE:PRGO – Get Rating) saw a significant growth in short interest in January. As of January 15th, there was short interest totalling 5,670,000 shares, a growth of 17.1% from the December 31st total of 4,840,000 shares. Based on an average daily volume of 1,480,000 shares, the short-interest ratio is presently 3.8 days.
Analysts Set New Price Targets
Several brokerages have recently issued reports on PRGO. Raymond James reduced their price objective on Perrigo from $48.00 to $42.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 9th. StockNews.com began coverage on Perrigo in a research report on Wednesday, October 12th. They issued a "hold" rating on the stock.
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Insiders Place Their Bets
In related news, EVP Grainne Quinn sold 2,368 shares of the stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $31.65, for a total transaction of $74,947.20. Following the transaction, the executive vice president now owns 9,118 shares of the company's stock, valued at approximately $288,584.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.80% of the stock is owned by insiders.
Institutional Investors Weigh In On Perrigo
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Martingale Asset Management L P grew its stake in Perrigo by 11.1% during the 2nd quarter. Martingale Asset Management L P now owns 6,670 shares of the company's stock worth $271,000 after buying an additional 664 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Perrigo in the 2nd quarter valued at $1,086,000. Integrated Advisors Network LLC acquired a new stake in Perrigo during the 2nd quarter worth $391,000. Los Angeles Capital Management LLC increased its stake in Perrigo by 213.0% in the third quarter. Los Angeles Capital Management LLC now owns 322,501 shares of the company's stock valued at $11,500,000 after purchasing an additional 219,473 shares during the period. Finally, Pictet Asset Management SA raised its holdings in shares of Perrigo by 11,414.0% in the second quarter. Pictet Asset Management SA now owns 996,535 shares of the company's stock valued at $40,429,000 after buying an additional 987,880 shares during the last quarter. 94.09% of the stock is owned by hedge funds and other institutional investors.
Perrigo Stock Up 0.5 %
Shares of PRGO stock traded up $0.18 on Monday, reaching $37.38. 1,001,064 shares of the stock were exchanged, compared to its average volume of 952,867. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of -59.33 and a beta of 0.79. The business's 50 day moving average price is $33.99 and its 200 day moving average price is $37.22. The company has a current ratio of 2.55, a quick ratio of 1.48 and a debt-to-equity ratio of 0.89. Perrigo has a twelve month low of $30.78 and a twelve month high of $43.90.
Perrigo (NYSE:PRGO – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.10). The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.14 billion. Perrigo had a negative net margin of 1.93% and a positive return on equity of 5.31%. The company's revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS. As a group, sell-side analysts expect that Perrigo will post 2.02 earnings per share for the current fiscal year.
Perrigo Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 20th. Investors of record on Friday, December 2nd were paid a dividend of $0.26 per share. The ex-dividend date was Thursday, December 1st. This represents a $1.04 annualized dividend and a yield of 2.78%. Perrigo's dividend payout ratio is currently -165.08%.
About Perrigo
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Perrigo Co Plc engages in the provision of self-care products and over-the-counter (OTC) health and wellness solutions. It enhances individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. It operates through the following segments: Consumer Self-Care Americas (CSCA) and Consumer Self-Care International (CSCI).
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