Insider Selling: Perrigo Company plc (NYSE:PRGO) Director Sells $497,495.46 in Stock

Perrigo Company plc (NYSE:PRGO) Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.27, for a total transaction of $497,495.46. Following the transaction, the director now directly owns 5,409 shares of the company’s stock, valued at $152,912.43. This represents a 76.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Perrigo Price Performance

Perrigo stock opened at $27.61 on Friday. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The firm’s 50-day simple moving average is $26.47 and its 200 day simple moving average is $26.97. Perrigo Company plc has a 52 week low of $23.89 and a 52 week high of $34.60. The firm has a market capitalization of $3.77 billion, a PE ratio of -23.60 and a beta of 0.52.

Perrigo (NYSE:PRGO) last announced its earnings results on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, meeting analysts’ consensus estimates of $0.81. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. Perrigo’s quarterly revenue was down 3.2% on a year-over-year basis. On average, equities research analysts predict that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.276 per share. The ex-dividend date is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.00%. Perrigo’s dividend payout ratio (DPR) is presently -94.02%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Foundry Partners LLC acquired a new position in Perrigo in the third quarter valued at $7,111,000. AQR Capital Management LLC boosted its position in shares of Perrigo by 675.5% in the second quarter. AQR Capital Management LLC now owns 970,637 shares of the company’s stock worth $24,926,000 after acquiring an additional 845,470 shares during the last quarter. Citigroup Inc. increased its position in Perrigo by 94.1% during the third quarter. Citigroup Inc. now owns 151,520 shares of the company’s stock worth $3,974,000 after purchasing an additional 73,457 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Perrigo by 3.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 655,974 shares of the company’s stock worth $16,845,000 after purchasing an additional 23,835 shares during the period. Finally, FMR LLC boosted its holdings in shares of Perrigo by 66,795.3% in the 3rd quarter. FMR LLC now owns 1,840,289 shares of the company’s stock valued at $48,271,000 after purchasing an additional 1,837,538 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Canaccord Genuity Group restated a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research note on Monday, September 30th. Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 price target (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Finally, StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

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.