Perrigo Company plc (NYSE:PRGO) Sees Large Decline in Short Interest

Perrigo Company plc (NYSE:PRGO) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 13,922,505 shares, a decline of 16.6% from the March 31st total of 16,686,010 shares. Based on an average daily trading volume, of 3,474,611 shares, the short-interest ratio is currently 4.0 days. Currently, 10.2% of the shares of the company are sold short.

Perrigo Stock Performance

Perrigo stock traded up $0.08 during midday trading on Friday, reaching $11.92. 1,728,454 shares of the stock traded hands, compared to its average volume of 2,404,843. The company has a current ratio of 2.76, a quick ratio of 1.63 and a debt-to-equity ratio of 1.23. The firm has a fifty day moving average price of $11.16 and a two-hundred day moving average price of $13.90. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -1.16, a PEG ratio of 1.40 and a beta of 0.52. Perrigo has a fifty-two week low of $9.23 and a fifty-two week high of $28.43.

Perrigo (NYSE:PRGO) last posted its earnings results on Thursday, February 26th. The company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.03). The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. Perrigo had a negative net margin of 33.51% and a positive return on equity of 9.41%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 earnings per share. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. On average, equities research analysts forecast that Perrigo will post 2.12 earnings per share for the current year.

Perrigo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Friday, May 29th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date is Friday, May 29th. Perrigo’s payout ratio is -11.28%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Weiss Ratings lowered shares of Perrigo from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Jefferies Financial Group reaffirmed a “hold” rating on shares of Perrigo in a report on Thursday, February 26th. Canaccord Genuity Group decreased their price target on shares of Perrigo from $20.00 to $17.00 and set a “buy” rating for the company in a report on Friday, February 27th. Zacks Research raised shares of Perrigo from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Argus raised shares of Perrigo to a “hold” rating in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.33.

Institutional Trading of Perrigo

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bahl & Gaynor Inc. raised its holdings in shares of Perrigo by 5.4% in the 3rd quarter. Bahl & Gaynor Inc. now owns 2,087,075 shares of the company’s stock worth $46,479,000 after purchasing an additional 107,774 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Perrigo by 1,495.6% in the 4th quarter. SG Americas Securities LLC now owns 134,433 shares of the company’s stock worth $1,871,000 after purchasing an additional 126,008 shares in the last quarter. Cooke & Bieler LP raised its holdings in shares of Perrigo by 11.6% in the 3rd quarter. Cooke & Bieler LP now owns 3,680,411 shares of the company’s stock worth $81,963,000 after purchasing an additional 381,290 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Perrigo by 8.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,797,746 shares of the company’s stock worth $40,036,000 after purchasing an additional 142,363 shares in the last quarter. Finally, Nicola Wealth Management LTD. raised its holdings in shares of Perrigo by 38.4% in the 3rd quarter. Nicola Wealth Management LTD. now owns 281,000 shares of the company’s stock worth $6,257,000 after purchasing an additional 78,000 shares in the last quarter. 95.91% of the stock is currently owned by institutional investors.

Perrigo Company Profile

Perrigo Company plc is a global healthcare supplier specializing in over-the-counter (OTC) and self-care products, as well as generic prescription pharmaceuticals and active pharmaceutical ingredients. The company develops, manufactures and distributes a broad array of consumer health products, including analgesics, vitamins and supplements, digestive health remedies, topical treatments, and infant formulas. Perrigo’s focus on private-label solutions has made it a leading partner for retailers and pharmacy chains seeking high-quality, value-oriented alternatives to branded medications and health supplements.

Organized across three principal business segments—Consumer Healthcare, Prescription Pharmaceuticals and Active Pharmaceutical Ingredients—Perrigo’s operations span research and development, manufacturing, quality assurance and global distribution.