Traders Buy Large Volume of Perrigo Put Options (PRGO)

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Perrigo Company PLC (NYSE:PRGO) saw unusually large options trading on Thursday. Investors bought 2,261 put options on the company. This is an increase of 722% compared to the average volume of 275 put options.

A number of equities analysts recently commented on the company. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $107.00 target price on shares of Perrigo in a report on Wednesday, July 18th. ValuEngine raised Perrigo from a “strong sell” rating to a “sell” rating in a report on Monday, August 20th. Royal Bank of Canada set a $63.00 price target on Perrigo and gave the company a “hold” rating in a report on Friday. Wells Fargo & Co decreased their price target on Perrigo from $84.00 to $77.00 and set a “market perform” rating on the stock in a report on Tuesday, August 21st. Finally, Stifel Nicolaus decreased their price target on Perrigo from $92.00 to $87.00 and set a “hold” rating on the stock in a report on Friday, August 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $87.80.

NYSE:PRGO opened at $64.07 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.23 and a debt-to-equity ratio of 0.52. The stock has a market cap of $10.11 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 2.39 and a beta of 0.66. Perrigo has a 52 week low of $62.74 and a 52 week high of $95.93.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Thursday, November 8th. The company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.04. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Perrigo had a return on equity of 11.92% and a net margin of 4.77%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the firm earned $1.39 earnings per share. As a group, analysts predict that Perrigo will post 4.85 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Friday, November 30th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.76 annualized dividend and a dividend yield of 1.19%. Perrigo’s dividend payout ratio (DPR) is 15.42%.

In related news, VP Todd W. Kingma bought 3,200 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The shares were bought at an average cost of $63.99 per share, with a total value of $204,768.00. Following the acquisition, the vice president now owns 23,587 shares in the company, valued at $1,509,332.13. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Svend Andersen bought 3,900 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The stock was bought at an average cost of $63.01 per share, for a total transaction of $245,739.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 29,983 shares of company stock worth $1,950,822. 6.90% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Dupont Capital Management Corp increased its holdings in shares of Perrigo by 63.8% in the second quarter. Dupont Capital Management Corp now owns 1,705 shares of the company’s stock worth $124,000 after purchasing an additional 664 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Perrigo by 8.6% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 11,106 shares of the company’s stock worth $810,000 after purchasing an additional 880 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Perrigo by 35.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,590 shares of the company’s stock worth $262,000 after purchasing an additional 930 shares during the last quarter. Penserra Capital Management LLC increased its holdings in shares of Perrigo by 16.5% in the third quarter. Penserra Capital Management LLC now owns 6,900 shares of the company’s stock worth $488,000 after purchasing an additional 975 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of Perrigo by 1.2% in the third quarter. Cullen Frost Bankers Inc. now owns 92,064 shares of the company’s stock worth $6,518,000 after purchasing an additional 1,048 shares during the last quarter. 83.00% of the stock is currently owned by hedge funds and other institutional investors.

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Perrigo Company Profile

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

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