Campbell & CO Investment Adviser LLC Buys 120,623 Shares of Perrigo Company plc $PRGO

Key Points

• Campbell & CO Investment Adviser LLC increased its stake in Perrigo Company plc by 450.7% during the first quarter, owning about 0.11% of the company valued at approximately $4.1 million.
• Corporate insiders, including Director Geoffrey M. Parker, have shown confidence in the company by buying shares, with Parker increasing his ownership by 15.13% following a purchase of 4,375 shares.
• Recent analyst ratings show a mix; Canaccord Genuity lowered its price target from $42.00 to $40.00, while JPMorgan also adjusted their target down to $35.00, reflecting cautious outlooks on Perrigo's stock.

Campbell & CO Investment Adviser LLC increased its stake in Perrigo Company plc (NYSE:PRGO - Free Report) by 450.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,384 shares of the company's stock after purchasing an additional 120,623 shares during the quarter. Campbell & CO Investment Adviser LLC owned approximately 0.11% of Perrigo worth $4,133,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Systematic Financial Management LP grew its stake in Perrigo by 0.7% during the 1st quarter. Systematic Financial Management LP now owns 1,310,196 shares of the company's stock valued at $36,738,000 after acquiring an additional 8,472 shares in the last quarter. Bahl & Gaynor Inc. lifted its holdings in shares of Perrigo by 40.7% during the 1st quarter. Bahl & Gaynor Inc. now owns 2,146,352 shares of the company's stock valued at $60,184,000 after buying an additional 621,155 shares during the last quarter. Martingale Asset Management L P acquired a new position in Perrigo in the first quarter worth approximately $203,000. Price T Rowe Associates Inc. MD lifted its stake in Perrigo by 41.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,073,026 shares of the company's stock valued at $310,488,000 after acquiring an additional 3,227,487 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Perrigo by 2.5% in the first quarter. Northern Trust Corp now owns 1,425,065 shares of the company's stock worth $39,959,000 after purchasing an additional 35,058 shares in the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Perrigo Price Performance

Shares of PRGO traded down $0.12 during trading hours on Thursday, hitting $23.78. The stock had a trading volume of 1,372,511 shares, compared to its average volume of 1,480,673. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of -40.99 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 company's fifty day moving average is $25.93 and its two-hundred day moving average is $26.20.

Perrigo (NYSE:PRGO - Get Free Report) last issued its quarterly earnings data 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 positive return on equity of 9.09% and a negative net margin of 1.86%.The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the company earned $0.53 EPS. The firm's revenue was down .9% compared to the same quarter last year. On average, analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, August 29th. Perrigo's dividend payout ratio (DPR) is currently -200.00%.

Insider Activity

In other Perrigo news, CFO Eduardo Guarita Bezerra acquired 3,000 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average cost of $22.74 per share, for a total transaction of $68,220.00. Following the transaction, the chief financial officer owned 48,949 shares of the company's stock, valued at $1,113,100.26. This trade represents a 6.53% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Geoffrey M. Parker bought 4,375 shares of Perrigo stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average cost of $22.97 per share, with a total value of $100,493.75. Following the completion of the purchase, the director owned 33,287 shares in the company, valued at approximately $764,602.39. This trade represents a 15.13% increase in their position. The disclosure for this purchase can be found here. Insiders bought 8,863 shares of company stock valued at $204,575 in the last quarter. Company insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Canaccord Genuity Group decreased their price target on Perrigo from $42.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. JPMorgan Chase & Co. reduced their price objective on shares of Perrigo from $38.00 to $35.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Finally, Wall Street Zen lowered shares of Perrigo from a "buy" rating to a "hold" rating in a research note on Sunday. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Perrigo currently has a consensus rating of "Hold" and an average price target of $33.00.

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.