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

Perrigo Company plc (NYSE:PRGO) was the recipient of unusually large options trading on Thursday. Stock traders acquired 8,109 call options on the stock. This represents an increase of 781% compared to the typical volume of 920 call options.

Insiders Place Their Bets

In related news, Director Katherine C. Doyle sold 8,954 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction of $244,444.20. Following the completion of the sale, the director now directly owns 6,009 shares in the company, valued at $164,045.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Ronald Craig Janish sold 13,000 shares of Perrigo stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $29.40, for a total transaction of $382,200.00. Following the sale, the executive vice president now directly owns 20,553 shares of the company’s stock, valued at approximately $604,258.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $27.30, for a total transaction of $244,444.20. Following the completion of the transaction, the director now directly owns 6,009 shares of the company’s stock, valued at approximately $164,045.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,254 shares of company stock worth $1,411,969 over the last three months. Insiders own 0.70% of the company’s stock.

Institutional Trading of Perrigo

A number of institutional investors have recently bought and sold shares of the company. Retirement Systems of Alabama grew its holdings in Perrigo by 0.3% in the first quarter. Retirement Systems of Alabama now owns 170,162 shares of the company’s stock worth $5,478,000 after purchasing an additional 447 shares during the period. Ridgewood Investments LLC increased its stake in Perrigo by 1.3% during the 1st quarter. Ridgewood Investments LLC now owns 35,140 shares of the company’s stock valued at $1,131,000 after purchasing an additional 451 shares in the last quarter. Park Avenue Securities LLC raised its holdings in Perrigo by 4.3% during the first quarter. Park Avenue Securities LLC now owns 11,330 shares of the company’s stock worth $365,000 after buying an additional 465 shares during the last quarter. Creative Planning lifted its stake in shares of Perrigo by 3.7% in the third quarter. Creative Planning now owns 18,477 shares of the company’s stock valued at $485,000 after buying an additional 661 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Perrigo by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 37,939 shares of the company’s stock valued at $974,000 after purchasing an additional 699 shares during the last quarter. Institutional investors own 95.91% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PRGO. Piper Sandler cut their price objective on Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Canaccord Genuity Group reissued a “buy” rating and set a $42.00 price target on shares of Perrigo in a research note on Monday, September 30th. StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $30.00 target price (down from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Perrigo has an average rating of “Moderate Buy” and an average price target of $37.00.

Perrigo Trading Up 2.0 %

Shares of NYSE PRGO traded up $0.49 during trading on Thursday, reaching $24.88. The company had a trading volume of 839,071 shares, compared to its average volume of 1,600,939. The stock has a market cap of $3.39 billion, a P/E ratio of -348.57 and a beta of 0.48. The company’s fifty day moving average price is $26.91 and its 200-day moving average price is $28.09. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.80. Perrigo has a 12 month low of $23.89 and a 12 month high of $34.60.

Perrigo (NYSE:PRGO) last announced its earnings results on Friday, August 2nd. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.46 by $0.07. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the business posted $0.63 earnings per share. The firm’s revenue was down 10.7% on a year-over-year basis. As a group, research analysts expect that Perrigo will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were paid a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date was Friday, August 30th. Perrigo’s dividend payout ratio is presently -1,571.43%.

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.