Insider Selling: Perrigo Company plc (NYSE:PRGO) EVP Sells 7,800 Shares of Stock

Perrigo Company plc (NYSE:PRGO) EVP Ronald Craig Janish sold 7,800 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $27.44, for a total transaction of $214,032.00. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Perrigo Price Performance

NYSE PRGO traded down $0.28 during mid-day trading on Monday, hitting $27.48. The stock had a trading volume of 2,107,241 shares, compared to its average volume of 1,450,457. The company has a 50 day simple moving average of $25.30 and a 200 day simple moving average of $26.22. The company has a market cap of $3.75 billion, a price-to-earnings ratio of -23.49 and a beta of 0.48. Perrigo Company plc has a 52-week low of $23.14 and a 52-week high of $33.46. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.01. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. Equities analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Friday, March 7th. This is an increase from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio is -92.80%.

Wall Street Analyst Weigh In

PRGO has been the subject of several analyst reports. Piper Sandler cut shares of Perrigo from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $34.00 to $27.00 in a report on Monday, January 6th. Argus lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, StockNews.com downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $33.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PRGO. Headlands Technologies LLC lifted its stake in Perrigo by 1,942.0% in the 4th quarter. Headlands Technologies LLC now owns 1,409 shares of the company’s stock valued at $36,000 after buying an additional 1,340 shares in the last quarter. Versant Capital Management Inc purchased a new stake in shares of Perrigo in the fourth quarter valued at $45,000. GAMMA Investing LLC boosted its stake in shares of Perrigo by 93.7% during the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $49,000 after acquiring an additional 929 shares during the last quarter. Central Pacific Bank Trust Division increased its position in Perrigo by 33.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock worth $51,000 after purchasing an additional 500 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in Perrigo in the 3rd quarter valued at about $56,000. 95.91% of the stock is owned by hedge funds and other institutional investors.

Perrigo Company Profile

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.