Perrigo Company (PRGO) EVP Sells $321,716.55 in Stock
Perrigo Company (NYSE:PRGO) EVP Jeffrey Needham sold 3,595 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total transaction of $321,716.55. Following the sale, the executive vice president now directly owns 10,118 shares of the company’s stock, valued at $905,459.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Perrigo Company (NYSE PRGO) traded down 0.13% on Thursday, reaching $88.89. 884,538 shares of the company were exchanged. The company’s 50-day moving average price is $77.25 and its 200 day moving average price is $73.22. The company’s market cap is $12.68 billion. Perrigo Company has a 12 month low of $63.68 and a 12 month high of $99.14.
Perrigo (NYSE:PRGO) last released its quarterly earnings results on Thursday, August 10th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.55%. Perrigo’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.93 EPS. On average, equities research analysts expect that Perrigo Company will post $4.58 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.72%. Perrigo’s dividend payout ratio is currently -3.51%.
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A number of research firms recently weighed in on PRGO. Deutsche Bank AG boosted their price target on shares of Perrigo from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank Of Canada reissued a “sell” rating and set a $64.00 price target on shares of Perrigo in a research note on Wednesday. Canaccord Genuity reissued a “buy” rating and set a $100.00 price target (up from $88.00) on shares of Perrigo in a research note on Wednesday. Cantor Fitzgerald boosted their price target on shares of Perrigo from $93.00 to $107.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, BidaskClub raised shares of Perrigo from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. Perrigo currently has an average rating of “Hold” and an average price target of $89.36.
Institutional investors have recently added to or reduced their stakes in the company. Korea Investment CORP raised its holdings in shares of Perrigo by 142.0% during the 2nd quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock valued at $101,000 after purchasing an additional 781 shares in the last quarter. Commonwealth Bank of Australia raised its holdings in shares of Perrigo by 13.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock valued at $108,000 after purchasing an additional 176 shares in the last quarter. Johnson Financial Group Inc. raised its holdings in shares of Perrigo by 15.6% during the 1st quarter. Johnson Financial Group Inc. now owns 1,775 shares of the company’s stock valued at $118,000 after purchasing an additional 240 shares in the last quarter. Global X Management Co. LLC raised its holdings in shares of Perrigo by 56.4% during the 1st quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock valued at $157,000 after purchasing an additional 855 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Perrigo by 1,046.2% during the 2nd quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock valued at $169,000 after purchasing an additional 2,040 shares in the last quarter. Institutional investors and hedge funds own 80.36% of the company’s stock.
Perrigo Company Profile
Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements, active pharmaceutical ingredients (API), and medical diagnostic products, and Multiple Sclerosis drug Tysabri.
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