Systematic Financial Management LP Increases Position in Perrigo Company plc (NYSE:PRGO)

Systematic Financial Management LP increased its stake in shares of Perrigo Company plc (NYSE:PRGO) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,135,821 shares of the company’s stock after purchasing an additional 3,545 shares during the quarter. Perrigo makes up 0.9% of Systematic Financial Management LP’s holdings, making the stock its 27th largest position. Systematic Financial Management LP owned 0.83% of Perrigo worth $29,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRGO. Parallel Advisors LLC boosted its holdings in shares of Perrigo by 69.1% in the 4th quarter. Parallel Advisors LLC now owns 2,009 shares of the company’s stock valued at $65,000 after buying an additional 821 shares in the last quarter. Peapack Gladstone Financial Corp acquired a new position in shares of Perrigo during the fourth quarter worth $213,000. Public Employees Retirement Association of Colorado lifted its holdings in shares of Perrigo by 3,796.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 582,216 shares of the company’s stock valued at $18,736,000 after purchasing an additional 567,274 shares during the last quarter. Gabelli Funds LLC increased its position in Perrigo by 3.2% during the 4th quarter. Gabelli Funds LLC now owns 425,000 shares of the company’s stock valued at $13,676,000 after buying an additional 13,000 shares in the last quarter. Finally, Keeley Teton Advisors LLC raised its stake in Perrigo by 7.6% in the fourth quarter. Keeley Teton Advisors LLC now owns 216,264 shares of the company’s stock valued at $6,959,000 after buying an additional 15,224 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Stock Performance

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

Perrigo (NYSE:PRGO) last issued its earnings results on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company posted $0.63 earnings per share. The firm’s revenue was down 10.7% compared to the same quarter last year. On average, analysts anticipate that Perrigo Company plc will post 2.57 EPS for the current year.

Perrigo Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Svend Andersen sold 28,300 shares of Perrigo stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total transaction of $785,325.00. Following the completion of the transaction, the executive vice president now directly owns 73,553 shares of the company’s stock, valued at approximately $2,041,095.75. The transaction 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 the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $27.30, for a total transaction of $244,444.20. Following the completion of the sale, the director now owns 6,009 shares of the company’s stock, valued at $164,045.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Svend Andersen sold 28,300 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total transaction of $785,325.00. Following the completion of the transaction, the executive vice president now directly owns 73,553 shares in the company, valued at $2,041,095.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,254 shares of company stock worth $1,411,969. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

PRGO has been the topic of several recent analyst reports. Jefferies Financial Group restated a “hold” rating and set a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Piper Sandler lowered their price objective on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Finally, StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.00.

About Perrigo

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.