Raymond James Financial Inc. Makes New $3.18 Million Investment in Perrigo Company plc (NYSE:PRGO)

Raymond James Financial Inc. acquired a new stake in shares of Perrigo Company plc (NYSE:PRGO) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 123,553 shares of the company’s stock, valued at approximately $3,177,000.

Other institutional investors have also modified their holdings of the company. Citigroup Inc. boosted its position in Perrigo by 94.1% during the third quarter. Citigroup Inc. now owns 151,520 shares of the company’s stock worth $3,974,000 after purchasing an additional 73,457 shares in the last quarter. Bank of Montreal Can lifted its stake in Perrigo by 347.0% in the 3rd quarter. Bank of Montreal Can now owns 145,474 shares of the company’s stock worth $3,731,000 after purchasing an additional 112,929 shares in the last quarter. FMR LLC boosted its stake in Perrigo by 66,795.3% during the third quarter. FMR LLC now owns 1,840,289 shares of the company’s stock worth $48,271,000 after buying an additional 1,837,538 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Perrigo by 43.8% during the third quarter. BNP Paribas Financial Markets now owns 114,937 shares of the company’s stock worth $3,015,000 after purchasing an additional 35,031 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Perrigo in the third quarter valued at approximately $8,892,000. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Insider Activity at Perrigo

In other news, EVP Ronald Craig Janish sold 7,800 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $27.44, for a total value of $214,032.00. Following the completion of the transaction, the executive vice president now directly owns 33,666 shares in the company, valued at $923,795.04. This trade represents a 18.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Piper Sandler lowered shares of Perrigo from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $34.00 to $27.00 in a research note on Monday, January 6th. StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Argus downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $33.00.

Perrigo Trading Up 1.4 %

Shares of PRGO opened at $27.74 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The company has a market capitalization of $3.79 billion, a PE ratio of -23.71 and a beta of 0.48. The stock has a fifty day moving average of $26.03 and a two-hundred day moving average of $26.16. Perrigo Company plc has a fifty-two week low of $23.14 and a fifty-two week high of $33.46.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. As a group, analysts forecast that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio is currently -92.80%.

Perrigo 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.