Aigen Investment Management LP Takes $347,000 Position in Perrigo Company plc $PRGO

Key Points

• Aigen Investment Management LP has acquired a new position in Perrigo Company plc, investing approximately $347,000 and purchasing 12,373 shares of the stock.
• Perrigo reported a quarterly earnings miss with an EPS of $0.57, below the consensus of $0.59, and also announced a quarterly dividend of $0.29, resulting in a 4.9% dividend yield.
• Recent institutional investments have led to a major increase in holdings, with Price T Rowe Associates increasing its stake by 6,828.9% in the fourth quarter, now owning over 7.8 million shares valued at approximately $201 million.

Aigen Investment Management LP bought a new position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,373 shares of the company's stock, valued at approximately $347,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in Perrigo by 6,828.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,845,539 shares of the company's stock valued at $201,710,000 after purchasing an additional 7,732,309 shares in the last quarter. Ion Asset Management Ltd. lifted its stake in shares of Perrigo by 50.1% during the fourth quarter. Ion Asset Management Ltd. now owns 2,820,000 shares of the company's stock valued at $72,502,000 after buying an additional 941,667 shares during the period. Sound Shore Management Inc. CT grew its stake in Perrigo by 23.1% in the 1st quarter. Sound Shore Management Inc. CT now owns 3,285,167 shares of the company's stock worth $92,116,000 after acquiring an additional 616,387 shares during the period. BW Gestao de Investimentos Ltda. lifted its position in Perrigo by 111.6% during the fourth quarter. BW Gestao de Investimentos Ltda. now owns 1,097,192 shares of the company's stock worth $28,209,000 after buying an additional 578,597 shares during the period. Finally, Boone Capital Management LLC boosted its stake in Perrigo by 126.1% in the 4th quarter. Boone Capital Management LLC now owns 1,022,369 shares of the company's stock worth $26,285,000 after buying an additional 570,148 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PRGO shares. Canaccord Genuity Group decreased their target price on shares of Perrigo from $42.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. JPMorgan Chase & Co. decreased their price target on shares of Perrigo from $38.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Finally, Wall Street Zen upgraded Perrigo from a "hold" rating to a "buy" rating in a report on Saturday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.00.

Perrigo Trading Up 1.4%

NYSE PRGO traded up $0.31 during mid-day trading on Monday, hitting $23.01. The company's stock had a trading volume of 516,139 shares, compared to its average volume of 1,478,325. The firm has a market capitalization of $3.17 billion, a P/E ratio of -39.69 and a beta of 0.47. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24. Perrigo Company plc has a 52-week low of $21.03 and a 52-week high of $30.93. The stock's fifty day simple moving average is $26.42 and its two-hundred day simple moving average is $26.29.

Perrigo (NYSE:PRGO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.57 EPS for the quarter, missing analysts' consensus estimates of $0.59 by ($0.02). Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the prior year, the business posted $0.53 EPS. The business's revenue was down .9% on a year-over-year basis. Research analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 29th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.16 annualized dividend and a yield of 5.0%. Perrigo's payout ratio is -200.00%.

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.