Insider Buying: Perrigo (PRGO) Director Buys 250,000 Shares of Stock

Perrigo (NYSE:PRGO) Director Jeffrey C. Smith acquired 250,000 shares of Perrigo stock in a transaction dated Tuesday, May 15th. The stock was bought at an average price of $75.21 per share, for a total transaction of $18,802,500.00. Following the completion of the purchase, the director now owns 528 shares of the company’s stock, valued at approximately $39,710.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Perrigo traded up $0.18, reaching $75.86, during midday trading on Thursday, MarketBeat.com reports. The company’s stock had a trading volume of 693,200 shares, compared to its average volume of 1,108,458. Perrigo has a fifty-two week low of $75.66 and a fifty-two week high of $76.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.08 and a quick ratio of 1.48. The stock has a market cap of $10.46 billion, a PE ratio of 15.39, a P/E/G ratio of 1.77 and a beta of 0.77.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Tuesday, May 8th. The company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.12. Perrigo had a return on equity of 11.93% and a net margin of 2.59%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the firm earned $1.05 earnings per share. Perrigo’s quarterly revenue was up 1.9% on a year-over-year basis. research analysts expect that Perrigo will post 5.25 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 19th. Shareholders of record on Friday, June 1st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Thursday, May 31st. Perrigo’s dividend payout ratio is presently 15.42%.

Several analysts have recently issued reports on PRGO shares. Canaccord Genuity reiterated a “buy” rating and issued a $100.00 price objective on shares of Perrigo in a research note on Wednesday, January 17th. Cantor Fitzgerald set a $107.00 price objective on Perrigo and gave the company a “buy” rating in a research note on Friday, January 19th. Berenberg Bank started coverage on Perrigo in a research note on Thursday, February 1st. They issued a “buy” rating and a $117.00 price objective on the stock. Oppenheimer reiterated a “buy” rating and issued a $98.00 price objective on shares of Perrigo in a research note on Tuesday, February 27th. Finally, JPMorgan Chase reiterated a “neutral” rating and issued a $83.00 price objective (up from $82.00) on shares of Perrigo in a research note on Monday, March 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $93.06.

A number of institutional investors have recently bought and sold shares of PRGO. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Perrigo by 356.7% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,436,621 shares of the company’s stock worth $125,216,000 after purchasing an additional 1,122,068 shares during the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of Perrigo during the first quarter worth about $81,786,000. Victory Capital Management Inc. grew its holdings in shares of Perrigo by 90.5% during the fourth quarter. Victory Capital Management Inc. now owns 2,046,980 shares of the company’s stock worth $178,414,000 after purchasing an additional 972,210 shares during the last quarter. Systematic Financial Management LP purchased a new position in shares of Perrigo during the fourth quarter worth about $36,866,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Perrigo by 289.2% during the fourth quarter. Renaissance Technologies LLC now owns 448,408 shares of the company’s stock worth $39,083,000 after purchasing an additional 333,200 shares during the last quarter. Institutional investors own 79.52% of the company’s stock.

About Perrigo

Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.

Insider Buying and Selling by Quarter for Perrigo (NYSE:PRGO)

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