Intech Investment Management LLC Takes Position in Perrigo Company plc (NYSE:PRGO)

Intech Investment Management LLC acquired a new position in shares of Perrigo Company plc (NYSE:PRGO) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 17,876 shares of the company’s stock, valued at approximately $459,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in shares of Perrigo during the first quarter worth about $48,000. Parallel Advisors LLC boosted its position in Perrigo by 69.1% during the 4th quarter. Parallel Advisors LLC now owns 2,009 shares of the company’s stock worth $65,000 after buying an additional 821 shares during the period. Beach Investment Counsel Inc. PA bought a new stake in Perrigo during the 2nd quarter worth approximately $72,000. TFC Financial Management Inc. raised its stake in shares of Perrigo by 39.7% during the first 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 last quarter. Finally, Voisard Asset Management Group Inc. lifted its holdings in shares of Perrigo by 520.0% during the second 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 during the period. Institutional investors and hedge funds own 95.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Jefferies Financial Group restated a “hold” rating and issued a $30.00 price objective (down from $50.00) on shares of Perrigo in a report on Monday. Piper Sandler lowered their price objective on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Finally, StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.00.

Insider Buying and Selling at Perrigo

In other news, EVP Svend Andersen sold 28,300 shares of the 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 transaction, the executive vice president now 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 Securities & Exchange Commission, which is available through the SEC website. In other news, Director Katherine C. Doyle sold 8,954 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction of $244,444.20. Following the transaction, the director now directly owns 6,009 shares of the company’s stock, valued at $164,045.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Svend Andersen sold 28,300 shares of Perrigo stock in a transaction 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 sale, the executive vice president now directly owns 73,553 shares of the company’s stock, valued at approximately $2,041,095.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,254 shares of company stock valued at $1,411,969. Corporate insiders own 0.70% of the company’s stock.

Perrigo Stock Performance

PRGO stock opened at $25.63 on Friday. The firm has a market cap of $3.50 billion, a PE ratio of -366.07 and a beta of 0.49. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average price of $27.83 and a 200-day moving average price of $28.72. Perrigo Company plc has a 1-year low of $24.82 and a 1-year high of $34.60.

Perrigo (NYSE:PRGO) last issued 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 firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.13 billion. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The company’s revenue was down 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 earnings per share. As a group, equities research analysts expect that Perrigo Company plc will post 2.57 earnings per share for the current year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th were issued a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Friday, August 30th. Perrigo’s payout ratio is -1,571.43%.

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.