Perrigo Company PLC (NYSE:PRGO) Sees Significant Increase in Short Interest
Perrigo Company PLC (NYSE:PRGO) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 8,315,500 shares, a growth of 19.0% from the June 30th total of 6,989,200 shares. Based on an average daily trading volume, of 1,250,000 shares, the short-interest ratio is currently 6.7 days. Currently, 6.1% of the shares of the company are short sold.
NYSE PRGO traded down $1.13 on Thursday, reaching $45.67. The company’s stock had a trading volume of 1,082,550 shares, compared to its average volume of 1,337,057. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 2.82 and a beta of 1.40. The company’s 50-day moving average price is $50.55. Perrigo has a 52 week low of $36.28 and a 52 week high of $78.90. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.14 and a current ratio of 1.64.
Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Perrigo had a net margin of 1.87% and a return on equity of 9.60%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 earnings per share. As a group, equities analysts forecast that Perrigo will post 3.95 EPS for the current year.
In related news, Director Theodore R. Samuels II acquired 4,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $46.97 per share, with a total value of $187,880.00. Following the completion of the transaction, the director now owns 8,236 shares of the company’s stock, valued at $386,844.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of PRGO. Parnassus Investments CA grew its stake in Perrigo by 89.7% during the second quarter. Parnassus Investments CA now owns 3,700,000 shares of the company’s stock worth $176,194,000 after buying an additional 1,750,000 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Perrigo by 4.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 18,911,635 shares of the company’s stock worth $900,572,000 after buying an additional 819,399 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new stake in Perrigo during the second quarter worth about $32,441,000. BlackRock Inc. grew its stake in Perrigo by 6.8% during the second quarter. BlackRock Inc. now owns 9,031,878 shares of the company’s stock worth $430,099,000 after buying an additional 571,800 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in Perrigo during the second quarter worth about $22,211,000. 85.94% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on PRGO shares. Wells Fargo & Co reissued a “hold” rating on shares of Perrigo in a research note on Tuesday, July 2nd. ValuEngine raised shares of Perrigo from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. SunTrust Banks upped their target price on shares of Perrigo to $51.00 and gave the company a “hold” rating in a research note on Monday, May 20th. Finally, Cantor Fitzgerald lowered their target price on shares of Perrigo from $107.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Perrigo presently has a consensus rating of “Hold” and a consensus price target of $59.50.
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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