Jeffrey B. Kindler Sells 17,598 Shares of Perrigo Company plc (NYSE:PRGO) Stock

Perrigo Company plc (NYSE:PRGO) Director Jeffrey B. Kindler sold 17,598 shares of Perrigo stock in a transaction on Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the completion of the sale, 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 legal filing with the SEC, which is available at this hyperlink.

Perrigo Stock Down 1.3 %

Perrigo stock opened at $27.59 on Wednesday. The stock has a market cap of $3.76 billion, a P/E ratio of -23.58 and a beta of 0.52. 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 Company plc has a twelve month low of $23.89 and a twelve month high of $34.60. The company’s 50-day moving average price is $26.37 and its two-hundred day moving average price is $26.97.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, hitting analysts’ consensus estimates of $0.81. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. Perrigo’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. As a group, analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

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

Analyst Ratings Changes

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

Institutional Trading of Perrigo

A number of institutional investors have recently modified their holdings of PRGO. Foundry Partners LLC acquired a new position in Perrigo in the third quarter valued at about $7,111,000. AQR Capital Management LLC lifted its holdings in shares of Perrigo by 675.5% during the 2nd 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 period. Citigroup Inc. boosted its holdings in shares of Perrigo by 94.1% in the 3rd quarter. Citigroup Inc. now owns 151,520 shares of the company’s stock valued at $3,974,000 after purchasing an additional 73,457 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Perrigo by 3.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 655,974 shares of the company’s stock valued at $16,845,000 after purchasing an additional 23,835 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Perrigo by 66,795.3% during the 3rd quarter. FMR LLC now owns 1,840,289 shares of the company’s stock worth $48,271,000 after buying an additional 1,837,538 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors.

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.