Scientech Research LLC Makes New $629,000 Investment in Perrigo Company plc (NYSE:PRGO)

Scientech Research LLC bought a new stake in Perrigo Company plc (NYSE:PRGO) during the 2nd quarter, Holdings Channel reports. The firm bought 24,493 shares of the company’s stock, valued at approximately $629,000.

A number of other large investors also recently made changes to their positions in the company. Central Pacific Bank Trust Division bought a new stake in Perrigo in the 1st quarter valued at $48,000. Parallel Advisors LLC boosted its position in shares of Perrigo by 69.1% in the fourth quarter. Parallel Advisors LLC now owns 2,009 shares of the company’s stock valued at $65,000 after acquiring an additional 821 shares during the period. Beach Investment Counsel Inc. PA acquired a new position in Perrigo in the 2nd quarter valued at $72,000. TFC Financial Management Inc. lifted its position in shares of Perrigo by 39.7% during the 1st quarter. TFC Financial Management Inc. now owns 2,462 shares of the company’s stock valued at $79,000 after acquiring an additional 700 shares during the period. Finally, Voisard Asset Management Group Inc. grew its holdings in shares of Perrigo by 520.0% during the 2nd quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock worth $119,000 after purchasing an additional 3,900 shares in the last quarter. Institutional investors own 95.91% of the company’s stock.

Insider Activity at Perrigo

In other Perrigo news, EVP Svend Andersen sold 28,300 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total value of $785,325.00. Following the completion of the transaction, the executive vice president now owns 73,553 shares of the company’s stock, valued at approximately $2,041,095.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Katherine C. Doyle sold 8,954 shares of Perrigo stock in a transaction on Friday, September 13th. The shares were sold at an average price of $27.30, for a total transaction of $244,444.20. Following the transaction, the director now owns 6,009 shares in the company, valued at $164,045.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Svend Andersen sold 28,300 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total value of $785,325.00. Following the completion of the sale, the executive vice president now owns 73,553 shares of the company’s stock, valued at $2,041,095.75. The disclosure for this sale can be found here. Insiders have sold a total of 50,254 shares of company stock valued at $1,411,969 in the last 90 days. 0.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PRGO. Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Piper Sandler reduced their price target on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Perrigo Stock Performance

Perrigo stock opened at $25.65 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.80. The stock has a market cap of $3.50 billion, a PE ratio of -366.43 and a beta of 0.49. Perrigo Company plc has a 12-month low of $24.82 and a 12-month high of $34.60. The business’s 50-day moving average price is $27.78 and its two-hundred day moving average price is $28.67.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.07. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.13 billion. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The firm’s revenue was down 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 EPS. As a group, analysts expect that Perrigo Company plc will post 2.57 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th were paid a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend was Friday, August 30th. Perrigo’s payout ratio is -1,571.43%.

Perrigo Company Profile

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.