Perrigo Target of Unusually High Options Trading (NYSE:PRGO)

Perrigo Company plc (NYSE:PRGO) was the target of some unusual options trading activity on Friday. Traders acquired 11,734 call options on the company. This represents an increase of approximately 637% compared to the average volume of 1,593 call options.

Perrigo Trading Up 20.1 %

PRGO opened at $28.98 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 stock’s fifty day moving average is $24.94 and its two-hundred day moving average is $26.19. The company has a market capitalization of $3.95 billion, a P/E ratio of -24.76 and a beta of 0.54. Perrigo has a 52 week low of $23.14 and a 52 week high of $33.46.

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

Perrigo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, March 7th. This is an increase from Perrigo’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.00%. Perrigo’s dividend payout ratio (DPR) is currently -92.80%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Piper Sandler cut Perrigo from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $34.00 to $27.00 in a report on Monday, January 6th. StockNews.com lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Argus downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.00.

Insider Buying and Selling at Perrigo

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $28.27, for a total transaction of $497,495.46. Following the completion of the transaction, the director now owns 5,409 shares in the company, valued at $152,912.43. The trade was a 76.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Perrigo

Large investors have recently bought and sold shares of the business. Pacer Advisors Inc. increased its holdings in shares of Perrigo by 2.1% in the 4th quarter. Pacer Advisors Inc. now owns 20,337 shares of the company’s stock valued at $523,000 after acquiring an additional 427 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Perrigo by 2.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,617 shares of the company’s stock valued at $567,000 after purchasing an additional 436 shares during the last quarter. Voisard Asset Management Group Inc. raised its holdings in Perrigo by 9.7% in the third quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock worth $134,000 after purchasing an additional 450 shares in the last quarter. Cedar Wealth Management LLC lifted its position in shares of Perrigo by 2.1% during the fourth quarter. Cedar Wealth Management LLC now owns 21,966 shares of the company’s stock valued at $565,000 after buying an additional 450 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its holdings in shares of Perrigo by 33.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock valued at $51,000 after buying an additional 500 shares in the last quarter. Institutional investors own 95.91% of the company’s stock.

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.