Shares of Perrigo Company (PRGO) Sees Large Outflow of Money

Perrigo Company (PRGO) : The value of composite uptick trades was $23.11 million, whereas, the value of composite downtick trades was $29.52 million. The uptick to downtick ratio stood at 0.78 with a negative money flow of ($6.41) Million during Wednesdays trading session. The block trades money flow was negative ($4.48 million). The transaction of the trades on downticks amounted to $4.48 million, which confirms investors selling on the strength of price. Perrigo Company (PRGO) gained 184 cents at $94.89, an increase of 1.98% over the previous days close.


Also, Equity analysts at the Brokerage firm Argus Research downgrades its rating on Perrigo Company (NYSE:PRGO). The rating major has initiated the coverage with hold rating on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on June 20, 2016.

Perrigo Company (NYSE:PRGO): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $93.89 and $93.68 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $95.21. The buying momentum continued till the end and the stock did not give up its gains. It closed at $94.85, notching a gain of 1.93% for the day. The total traded volume was 1,669,711 . The stock had closed at $93.05 on the previous day.

The stock has recorded a 20-day Moving Average of 2.35% and the 50-Day Moving Average is 0.25%. In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Executive VP & CFO) of Perrigo Co Plc, Brown Judy L had sold 2,776 shares worth of $350,387 in a transaction dated April 13, 2016. In this transaction, 2,776 shares were sold at $126.22 per share.

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