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

Perrigo Company PLC (NYSE:PRGO) was the recipient of some unusual options trading on Tuesday. Investors acquired 2,251 call options on the stock. This is an increase of 1,946% compared to the average daily volume of 110 call options.

In other news, EVP Ronald Craig Janish sold 2,424 shares of Perrigo stock in a transaction on Friday, November 8th. The stock was sold at an average price of $49.90, for a total value of $120,957.60. Following the transaction, the executive vice president now owns 6,006 shares in the company, valued at approximately $299,699.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Grainne Quinn sold 2,050 shares of Perrigo stock in a transaction on Monday, November 11th. The shares were sold at an average price of $49.08, for a total value of $100,614.00. Following the completion of the transaction, the executive vice president now owns 3,047 shares in the company, valued at approximately $149,546.76. The disclosure for this sale can be found here. Insiders sold a total of 6,774 shares of company stock valued at $347,865 over the last ninety days. Insiders own 7.70% of the company’s stock.

A number of hedge funds have recently modified their holdings of PRGO. Commonwealth Bank of Australia grew its position in shares of Perrigo by 295.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 890 shares of the company’s stock valued at $42,000 after buying an additional 665 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Perrigo by 343.3% in the 3rd quarter. Parallel Advisors LLC now owns 931 shares of the company’s stock valued at $52,000 after purchasing an additional 721 shares during the period. CSat Investment Advisory L.P. lifted its stake in shares of Perrigo by 43.1% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,527 shares of the company’s stock valued at $72,000 after purchasing an additional 460 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of Perrigo in the 3rd quarter valued at about $165,000. Finally, Quadrant Capital Group LLC raised its stake in Perrigo by 16.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 3,314 shares of the company’s stock worth $183,000 after buying an additional 475 shares during the period. Institutional investors and hedge funds own 86.46% of the company’s stock.

Several brokerages have recently issued reports on PRGO. Wells Fargo & Co lifted their price target on Perrigo from $45.00 to $52.00 and gave the company a “market perform” rating in a research note on Monday, September 30th. Argus upgraded Perrigo from a “hold” rating to a “buy” rating in a research note on Friday, October 11th. SunTrust Banks lifted their price target on Perrigo from $51.00 to $55.00 and gave the company a “hold” rating in a research note on Wednesday, September 25th. They noted that the move was a valuation call. ValuEngine lowered Perrigo from a “hold” rating to a “sell” rating in a research note on Tuesday, December 31st. Finally, TheStreet upgraded Perrigo from a “d+” rating to a “c-” rating in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Perrigo has an average rating of “Hold” and an average price target of $53.80.

Shares of PRGO stock opened at $56.91 on Wednesday. The firm has a market capitalization of $6.77 billion, a P/E ratio of 12.51, a P/E/G ratio of 4.65 and a beta of 1.46. Perrigo has a twelve month low of $40.68 and a twelve month high of $57.50. The company has a quick ratio of 1.32, a current ratio of 2.07 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $52.09 and its 200 day simple moving average is $51.43.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.20 billion. Perrigo had a return on equity of 9.39% and a net margin of 5.24%. Perrigo’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. As a group, equities research analysts expect that Perrigo will post 3.98 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, November 29th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.48%. Perrigo’s dividend payout ratio is currently 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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