Edmond DE Rothschild Holding S.A. Increases Stake in Perrigo Company plc $PRGO

Key Points

• Edmond DE Rothschild Holding S.A. has increased its stake in Perrigo Company plc by purchasing an additional 96,520 shares, lifting its total holdings to 1,311,520 shares, worth approximately $36.8 million.
• Perrigo received mixed ratings from analysts, with Wall Street Zen downgrading the stock from a "buy" to a "hold," while JPMorgan and Canaccord lowered their price targets on the stock.
• Perrigo announced a quarterly dividend of $0.29 per share, with an ex-dividend date on August 29th, which reflects an annualized yield of 5.0%.

Edmond DE Rothschild Holding S.A. boosted its stake in Perrigo Company plc (NYSE:PRGO - Free Report) by 7.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,311,520 shares of the company's stock after buying an additional 96,520 shares during the period. Edmond DE Rothschild Holding S.A. owned 0.95% of Perrigo worth $36,775,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PRGO. Cutter Capital Management LP grew its position in Perrigo by 62.8% in the 1st quarter. Cutter Capital Management LP now owns 479,517 shares of the company's stock worth $13,446,000 after purchasing an additional 185,000 shares during the period. BW Gestao de Investimentos Ltda. boosted its holdings in Perrigo by 18.3% in the 1st quarter. BW Gestao de Investimentos Ltda. now owns 1,298,444 shares of the company's stock worth $36,408,000 after buying an additional 201,252 shares during the period. Amundi lifted its stake in Perrigo by 11.7% in the 1st quarter. Amundi now owns 5,292 shares of the company's stock worth $148,000 after purchasing an additional 556 shares in the last quarter. Vestal Point Capital LP lifted its stake in Perrigo by 56.7% in the 1st quarter. Vestal Point Capital LP now owns 587,649 shares of the company's stock worth $16,478,000 after purchasing an additional 212,649 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Perrigo during the 1st quarter valued at about $243,000. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Perrigo news, Director Geoffrey M. Parker purchased 4,375 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average cost of $22.97 per share, for a total transaction of $100,493.75. Following the completion of the transaction, the director owned 33,287 shares of the company's stock, valued at $764,602.39. The trade was a 15.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Robert Willis bought 1,488 shares of Perrigo stock in a transaction on Friday, August 22nd. The shares were purchased at an average cost of $24.10 per share, for a total transaction of $35,860.80. Following the completion of the purchase, the executive vice president directly owned 41,939 shares of the company's stock, valued at $1,010,729.90. This trade represents a 3.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 8,863 shares of company stock worth $204,575. 0.40% of the stock is owned by insiders.

Perrigo Stock Performance

Shares of NYSE PRGO traded down $0.13 during midday trading on Tuesday, reaching $22.20. The company had a trading volume of 980,556 shares, compared to its average volume of 1,485,404. The business's 50-day simple moving average is $25.40 and its 200 day simple moving average is $26.15. The stock has a market cap of $3.05 billion, a P/E ratio of -38.34 and a beta of 0.48. Perrigo Company plc has a 1 year low of $21.03 and a 1 year high of $30.93. The company has a current ratio of 2.32, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share (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 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 company's quarterly revenue was down .9% on a year-over-year basis. On average, analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The firm 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 is Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a yield of 5.2%. Perrigo's payout ratio is presently -200.00%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Perrigo from $38.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Canaccord Genuity Group dropped their price objective on shares of Perrigo from $42.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Perrigo from a "hold" rating to a "buy" rating in a research note on Friday. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $33.00.

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.