Perrigo Company PLC (NYSE:PRGO) Short Interest Update

Perrigo Company PLC (NYSE:PRGO) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 8,315,500 shares, an increase of 19.0% from the June 30th total of 6,989,200 shares. Approximately 6.1% of the company’s shares are sold short. Based on an average daily trading volume, of 1,250,000 shares, the days-to-cover ratio is currently 6.7 days.

In other Perrigo news, Director Theodore R. Samuels II acquired 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $46.97 per share, for a total transaction of $187,880.00. Following the acquisition, the director now directly owns 8,236 shares in the company, valued at $386,844.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.70% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Parnassus Investments CA raised its stake in shares of Perrigo by 89.7% during the 2nd quarter. Parnassus Investments CA now owns 3,700,000 shares of the company’s stock worth $176,194,000 after purchasing an additional 1,750,000 shares during the period. Diamond Hill Capital Management Inc. bought a new stake in shares of Perrigo during the 2nd quarter worth $32,441,000. BlackRock Inc. raised its stake in shares of Perrigo by 6.8% during the 2nd quarter. BlackRock Inc. now owns 9,031,878 shares of the company’s stock worth $430,099,000 after purchasing an additional 571,800 shares during the period. First Trust Advisors LP raised its stake in shares of Perrigo by 165.7% during the 1st quarter. First Trust Advisors LP now owns 704,468 shares of the company’s stock worth $33,927,000 after purchasing an additional 439,379 shares during the period. Finally, Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management raised its stake in shares of Perrigo by 22.8% during the 1st quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 2,158,199 shares of the company’s stock worth $103,939,000 after purchasing an additional 400,000 shares during the period. Institutional investors and hedge funds own 85.94% of the company’s stock.

A number of analysts have weighed in on PRGO shares. SunTrust Banks increased their target price on shares of Perrigo to $51.00 and gave the company a “hold” rating in a research report on Monday, May 20th. Wells Fargo & Co reissued a “hold” rating on shares of Perrigo in a research report on Tuesday, July 2nd. ValuEngine raised shares of Perrigo from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Cantor Fitzgerald decreased their target price on shares of Perrigo from $107.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $59.50.

NYSE PRGO traded down $1.24 during mid-day trading on Wednesday, hitting $46.52. The company’s stock had a trading volume of 1,173,080 shares, compared to its average volume of 1,338,522. The firm’s 50 day moving average price is $50.55. Perrigo has a twelve month low of $36.28 and a twelve month high of $78.90. The company has a quick ratio of 1.14, a current ratio of 1.64 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 2.82 and a beta of 1.40.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. Perrigo had a return on equity of 9.60% and a net margin of 1.87%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the business earned $1.22 EPS. The business’s revenue was down 3.2% on a year-over-year basis. On average, analysts predict that Perrigo will post 3.96 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.81%. The ex-dividend date is Thursday, August 29th. Perrigo’s dividend payout ratio (DPR) is presently 18.46%.

About Perrigo

Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.

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