Svend Andersen Purchases 2,900 Shares of Perrigo Company plc (NYSE:PRGO) Stock

Posted by Defense World Staff on May 27th, 2023

Perrigo Company plc (NYSE:PRGO – Get Rating) EVP Svend Andersen purchased 2,900 shares of Perrigo stock in a transaction dated Tuesday, May 23rd. The shares were bought at an average price of $33.41 per share, with a total value of $96,889.00. Following the completion of the transaction, the executive vice president now owns 68,741 shares in the company, valued at approximately $2,296,636.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Perrigo Stock Performance

NYSE PRGO opened at $32.39 on Friday. The company has a quick ratio of 1.43, a current ratio of 2.52 and a debt-to-equity ratio of 0.84. Perrigo Company plc has a fifty-two week low of $30.78 and a fifty-two week high of $43.90. The business has a fifty day moving average of $35.37 and a 200-day moving average of $34.96. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of -33.74 and a beta of 0.79.

Perrigo (NYSE:PRGO – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. Perrigo had a positive return on equity of 6.21% and a negative net margin of 2.85%. Perrigo’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 EPS. As a group, analysts predict that Perrigo Company plc will post 2.58 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Friday, June 2nd will be issued a dividend of $0.273 per share. The ex-dividend date is Thursday, June 1st. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.37%. Perrigo’s payout ratio is -113.54%.

Institutional Investors Weigh In On Perrigo

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRGO. CWM LLC grew its stake in Perrigo by 73.0% during the first quarter. CWM LLC now owns 699 shares of the company’s stock worth $25,000 after buying an additional 295 shares during the period. State of Michigan Retirement System grew its stake in shares of Perrigo by 0.9% in the fourth quarter. State of Michigan Retirement System now owns 34,258 shares of the company’s stock valued at $1,168,000 after buying an additional 300 shares in the last quarter. Veriti Management LLC raised its holdings in shares of Perrigo by 4.5% during the 4th quarter. Veriti Management LLC now owns 7,218 shares of the company’s stock valued at $246,000 after buying an additional 308 shares during the period. Arizona State Retirement System raised its holdings in shares of Perrigo by 0.9% during the 3rd quarter. Arizona State Retirement System now owns 36,564 shares of the company’s stock valued at $1,304,000 after buying an additional 311 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in Perrigo by 0.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 39,617 shares of the company’s stock worth $1,351,000 after acquiring an additional 343 shares in the last quarter. 94.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Canaccord Genuity Group started coverage on Perrigo in a report on Tuesday, March 7th. They set a “buy” rating and a $49.00 price objective for the company. Raymond James lifted their price target on Perrigo from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Sunday, March 5th. Finally, StockNews.com assumed coverage on shares of Perrigo in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Perrigo presently has a consensus rating of “Buy” and a consensus price target of $48.00.

About Perrigo

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Perrigo Co Plc engages in the provision of self-care products and over-the-counter (OTC) health and wellness solutions. It enhances individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. It operates through the following segments: Consumer Self-Care Americas (CSCA) and Consumer Self-Care International (CSCI).