Geoffrey Parker Purchases 7,500 Shares of Perrigo (NYSE:PRGO) Stock

Perrigo Company plc (NYSE:PRGO) Director Geoffrey Parker purchased 7,500 shares of the stock in a transaction dated Wednesday, November 12th. The stock was bought at an average cost of $14.18 per share, with a total value of $106,350.00. Following the transaction, the director owned 17,375 shares in the company, valued at $246,377.50. The trade was a 75.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Perrigo Stock Performance

Perrigo stock traded down $0.15 during mid-day trading on Friday, reaching $13.82. 1,774,782 shares of the stock traded hands, compared to its average volume of 1,705,094. The business’s 50-day moving average is $20.59 and its 200-day moving average is $24.12. Perrigo Company plc has a 12-month low of $13.46 and a 12-month high of $30.93. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24. The stock has a market capitalization of $1.90 billion, a PE ratio of -23.80 and a beta of 0.42.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.75 by $0.05. Perrigo had a positive return on equity of 9.09% and a negative net margin of 1.86%.The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business posted $0.81 EPS. Perrigo’s revenue was down 4.1% on a year-over-year basis. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. As a group, sell-side analysts predict that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 28th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 8.4%. The ex-dividend date is Friday, November 28th. Perrigo’s payout ratio is currently -305.26%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PRGO shares. Canaccord Genuity Group cut their price objective on Perrigo from $40.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $20.00 price objective (down from $32.00) on shares of Perrigo in a report on Thursday, November 6th. Weiss Ratings restated a “sell (d)” rating on shares of Perrigo in a research report on Wednesday, October 8th. Wall Street Zen downgraded Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Jefferies Financial Group decreased their price target on Perrigo from $27.00 to $23.00 and set a “hold” rating on the stock in a report on Monday, October 27th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $22.50.

Institutional Investors Weigh In On Perrigo

Several institutional investors have recently added to or reduced their stakes in PRGO. Geneos Wealth Management Inc. grew its position in Perrigo by 439.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock worth $27,000 after purchasing an additional 786 shares during the last quarter. Huntington National Bank increased its holdings in Perrigo by 237.8% in the 2nd quarter. Huntington National Bank now owns 1,054 shares of the company’s stock worth $28,000 after acquiring an additional 742 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Perrigo by 54.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the company’s stock worth $32,000 after purchasing an additional 424 shares during the last quarter. Hantz Financial Services Inc. increased its stake in Perrigo by 101.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,234 shares of the company’s stock worth $33,000 after buying an additional 620 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in shares of Perrigo during the first quarter valued at approximately $42,000. Institutional investors and hedge funds 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.