Perrigo Company plc (NYSE:PRGO – Get Rating) saw a significant increase in short interest in January. As of January 15th, there was short interest totalling 5,670,000 shares, an increase 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 days-to-cover ratio is presently 3.8 days.
Insider Buying and Selling at Perrigo
In other Perrigo news, EVP Grainne Quinn sold 2,368 shares of the firm's stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $31.65, for a total transaction of $74,947.20. Following the completion of the transaction, the executive vice president now directly owns 9,118 shares in the company, valued at approximately $288,584.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.80% of the stock is owned by corporate insiders.
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Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of PRGO. TCW Group Inc. boosted its stake in shares of Perrigo by 2.0% in the second quarter. TCW Group Inc. now owns 12,078 shares of the company's stock valued at $490,000 after purchasing an additional 242 shares during the period. Securian Asset Management Inc. boosted its position in Perrigo by 2.2% in the 2nd quarter. Securian Asset Management Inc. now owns 12,266 shares of the company's stock valued at $498,000 after buying an additional 263 shares during the last quarter. State of Michigan Retirement System grew its stake in shares of Perrigo by 0.9% during the second quarter. State of Michigan Retirement System now owns 34,258 shares of the company's stock valued at $1,390,000 after acquiring an additional 300 shares in the last quarter. Veriti Management LLC increased its position in shares of Perrigo by 4.5% during the fourth quarter. Veriti Management LLC now owns 7,218 shares of the company's stock worth $246,000 after acquiring an additional 308 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Perrigo by 0.9% in the third quarter. Arizona State Retirement System now owns 36,564 shares of the company's stock worth $1,304,000 after acquiring an additional 311 shares in the last quarter. Institutional investors and hedge funds own 94.09% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on PRGO shares. 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 report on Wednesday, November 9th. StockNews.com began coverage on Perrigo in a research report on Wednesday, October 12th. They set a "hold" rating on the stock.
Perrigo Trading Up 0.5 %
Shares of PRGO traded up $0.18 during mid-day trading on Monday, reaching $37.38. The company had a trading volume of 1,001,064 shares, compared to its average volume of 952,867. Perrigo has a fifty-two week low of $30.78 and a fifty-two week high of $43.90. The firm has a fifty day simple moving average of $33.99 and a 200-day simple moving average of $37.22. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of -59.33 and a beta of 0.79. 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 (NYSE:PRGO – Get Rating) last announced its quarterly earnings results on Tuesday, November 8th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.10). The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.14 billion. Perrigo had a positive return on equity of 5.31% and a negative net margin of 1.93%. The business's revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 earnings per share. On average, sell-side analysts anticipate that Perrigo will post 2.02 EPS 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 issued a $0.26 dividend. The ex-dividend date of this dividend 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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