Perrigo Company plc (NYSE:PRGO) Stock Holdings Lifted by Raymond James & Associates

Raymond James & Associates raised its stake in Perrigo Company plc (NYSE:PRGO) by 20.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,404 shares of the company’s stock after buying an additional 18,024 shares during the period. Raymond James & Associates’ holdings in Perrigo were worth $2,739,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of PRGO. Dimensional Fund Advisors LP increased its stake in shares of Perrigo by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 7,162,656 shares of the company’s stock worth $183,935,000 after acquiring an additional 249,640 shares during the last quarter. Deprince Race & Zollo Inc. increased its position in Perrigo by 11.2% during the second quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company’s stock worth $99,701,000 after buying an additional 391,646 shares during the last quarter. Cooke & Bieler LP boosted its holdings in Perrigo by 0.9% during the second quarter. Cooke & Bieler LP now owns 3,501,401 shares of the company’s stock valued at $89,916,000 after acquiring an additional 30,150 shares during the period. DAVENPORT & Co LLC boosted its holdings in Perrigo by 10.1% during the first quarter. DAVENPORT & Co LLC now owns 3,449,352 shares of the company’s stock valued at $111,035,000 after acquiring an additional 317,552 shares during the period. Finally, Sound Shore Management Inc. CT boosted its holdings in Perrigo by 5.2% during the second quarter. Sound Shore Management Inc. CT now owns 2,391,049 shares of the company’s stock valued at $61,402,000 after acquiring an additional 117,230 shares during the period. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Trading Down 2.6 %

PRGO opened at $25.41 on Tuesday. 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 $23.89 and a 12 month high of $34.60. The firm’s fifty day simple moving average is $26.42 and its 200 day simple moving average is $27.60. The stock has a market capitalization of $3.47 billion, a P/E ratio of -27.62 and a beta of 0.48.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.53 earnings per share for the quarter, topping 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%. Perrigo’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 EPS. As a group, research analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be paid a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.34%. Perrigo’s dividend payout ratio (DPR) is currently -119.57%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PRGO shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 target price on shares of Perrigo in a research note on Monday, September 30th. StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Jefferies Financial Group restated a “hold” rating and set a $30.00 price target (down previously from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Finally, Piper Sandler cut their price target 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Insider Buying and Selling at Perrigo

In other news, EVP Svend Andersen sold 28,300 shares of the company’s 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 sale, the executive vice president now owns 73,553 shares of the company’s stock, valued at approximately $2,041,095.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, 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 transaction, the executive vice president now owns 73,553 shares in the company, valued at approximately $2,041,095.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Katherine C. Doyle sold 8,954 shares of the business’s 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 completion of the transaction, the director now owns 6,009 shares in the company, valued at approximately $164,045.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,254 shares of company stock valued at $1,411,969 in the last quarter. Company insiders own 0.70% of the company’s stock.

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.