Perrigo Company plc (NYSE:PRGO) Short Interest Down 19.1% in November

Perrigo Company plc (NYSE:PRGO) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 4,020,000 shares, a drop of 19.1% from the November 15th total of 4,970,000 shares. Based on an average trading volume of 1,500,000 shares, the short-interest ratio is presently 2.7 days.

Perrigo Trading Down 0.5 %

NYSE:PRGO traded down $0.14 on Friday, reaching $27.45. The company’s stock had a trading volume of 966,639 shares, compared to its average volume of 1,601,242. The firm has a market cap of $3.74 billion, a PE ratio of -23.46 and a beta of 0.52. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The business’s 50-day moving average price is $26.52 and its two-hundred day moving average price is $26.97. Perrigo has a 1-year low of $23.89 and a 1-year high of $34.60.

Perrigo (NYSE:PRGO) last announced its earnings results on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, hitting the consensus estimate of $0.81. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the company posted $0.64 EPS. Equities research analysts anticipate that Perrigo will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be paid a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Friday, November 29th. Perrigo’s payout ratio is presently -94.02%.

Insider Activity at Perrigo

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of the company’s 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 approximately $152,912.43. The trade was a 76.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Perrigo

A number of large investors have recently added to or reduced their stakes in PRGO. Venturi Wealth Management LLC acquired a new stake in shares of Perrigo in the third quarter valued at approximately $56,000. KBC Group NV increased its stake in Perrigo by 25.1% in the 3rd quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after buying an additional 905 shares during the last quarter. Voisard Asset Management Group Inc. lifted its position in Perrigo by 9.7% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock worth $134,000 after buying an additional 450 shares in the last quarter. Atria Investments Inc acquired a new position in shares of Perrigo during the 3rd quarter worth about $208,000. Finally, CWM LLC grew its holdings in shares of Perrigo by 877.0% in the 2nd quarter. CWM LLC now owns 8,197 shares of the company’s stock valued at $210,000 after acquiring an additional 7,358 shares in the last quarter. Institutional investors own 95.91% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.