49,217 Shares in Perrigo Company plc (NYSE:PRGO) Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new stake in Perrigo Company plc (NYSE:PRGO) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 49,217 shares of the company’s stock, valued at approximately $1,291,000.

Several other institutional investors also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its position in Perrigo by 31.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,968 shares of the company’s stock valued at $384,000 after acquiring an additional 3,619 shares during the period. Raymond James & Associates increased its position in Perrigo by 5.9% during the 2nd quarter. Raymond James & Associates now owns 86,380 shares of the company’s stock worth $2,218,000 after purchasing an additional 4,849 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Perrigo by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 1,085,657 shares of the company’s stock valued at $27,880,000 after buying an additional 9,219 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Perrigo by 3.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 655,974 shares of the company’s stock valued at $16,845,000 after buying an additional 23,835 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Perrigo by 3.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,083 shares of the company’s stock worth $747,000 after buying an additional 923 shares during the period. 95.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Perrigo

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $28.27, for a total transaction of $497,495.46. Following the transaction, the director now owns 5,409 shares of the company’s stock, valued at $152,912.43. This trade represents a 76.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PRGO has been the topic of several recent research reports. Canaccord Genuity Group restated a “buy” rating and set a $42.00 target price on shares of Perrigo in a report on Monday, September 30th. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $30.00 target price (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.00.

Perrigo Stock Performance

Shares of PRGO stock opened at $25.44 on Thursday. The company’s fifty day moving average price is $26.63 and its two-hundred day moving average price is $26.94. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The firm has a market capitalization of $3.47 billion, a P/E ratio of -21.74 and a beta of 0.52. Perrigo Company plc has a 12 month low of $23.89 and a 12 month high of $34.60.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, meeting analysts’ consensus estimates of $0.81. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the business posted $0.64 earnings per share. Perrigo’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, research analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, November 29th were issued a $0.276 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.10 annualized dividend and a yield of 4.34%. Perrigo’s dividend payout ratio is presently -94.02%.

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.