Edgestream Partners L.P. Reduces Stake in Perrigo Company plc (NYSE:PRGO)

Edgestream Partners L.P. lowered its position in Perrigo Company plc (NYSE:PRGO - Free Report) by 88.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,867 shares of the company's stock after selling 137,297 shares during the period. Edgestream Partners L.P.'s holdings in Perrigo were worth $501,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in Perrigo by 6,828.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,845,539 shares of the company's stock valued at $201,710,000 after buying an additional 7,732,309 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Perrigo by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,989,530 shares of the company's stock worth $179,698,000 after purchasing an additional 27,835 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in Perrigo by 1.1% in the 4th quarter. Deprince Race & Zollo Inc. now owns 4,557,844 shares of the company's stock worth $117,182,000 after purchasing an additional 50,728 shares in the last quarter. Ion Asset Management Ltd. boosted its position in Perrigo by 50.1% in the 4th quarter. Ion Asset Management Ltd. now owns 2,820,000 shares of the company's stock worth $72,502,000 after purchasing an additional 941,667 shares in the last quarter. Finally, Sound Shore Management Inc. CT boosted its position in Perrigo by 0.4% in the 4th quarter. Sound Shore Management Inc. CT now owns 2,668,780 shares of the company's stock worth $68,614,000 after purchasing an additional 9,868 shares in the last quarter. Hedge funds and other institutional investors own 95.91% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Perrigo from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $33.00.

Perrigo Trading Down 0.7%

Shares of PRGO stock opened at $26.95 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.36 and a quick ratio of 1.28. The company has a market cap of $3.71 billion, a price-to-earnings ratio of -20.57 and a beta of 0.45. The stock has a 50 day simple moving average of $26.82 and a 200-day simple moving average of $26.13. Perrigo Company plc has a 1-year low of $23.14 and a 1-year high of $30.93.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. Perrigo had a positive return on equity of 8.93% and a negative net margin of 4.16%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the company earned $0.29 EPS. The firm's revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts expect that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Friday, May 30th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date was Friday, May 30th. Perrigo's dividend payout ratio (DPR) is presently -88.55%.

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.

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