LPL Financial LLC Has $1.40 Million Position in Perrigo Company plc $PRGO

Key Points

• LPL Financial LLC increased its stake in Perrigo Company plc by 32.4% during Q1, resulting in ownership of 49,969 shares valued at approximately $1.4 million.
• Several analysts have revised their price targets for Perrigo, with JPMorgan lowering theirs from $38 to $35 and Canaccord Genuity dropping from $42 to $40, while the consensus rating remains a "Hold."
• Perrigo recently announced a quarterly dividend of $0.29 per share, representing a 4.7% dividend yield based on an annualized payout of $1.16.

LPL Financial LLC lifted its stake in Perrigo Company plc (NYSE:PRGO - Free Report) by 32.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,969 shares of the company's stock after acquiring an additional 12,231 shares during the quarter. LPL Financial LLC's holdings in Perrigo were worth $1,401,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Parallel Advisors LLC boosted its holdings in Perrigo by 176.9% during the first quarter. Parallel Advisors LLC now owns 1,714 shares of the company's stock valued at $48,000 after acquiring an additional 1,095 shares during the period. First Horizon Advisors Inc. lifted its stake in Perrigo by 138.3% during the first quarter. First Horizon Advisors Inc. now owns 1,754 shares of the company's stock worth $49,000 after purchasing an additional 1,018 shares during the period. Fifth Third Bancorp lifted its stake in Perrigo by 62.0% during the first quarter. Fifth Third Bancorp now owns 2,218 shares of the company's stock worth $62,000 after purchasing an additional 849 shares during the period. Blue Trust Inc. lifted its stake in Perrigo by 110.4% during the first quarter. Blue Trust Inc. now owns 2,619 shares of the company's stock worth $73,000 after purchasing an additional 1,374 shares during the period. Finally, Central Pacific Bank Trust Division increased its holdings in shares of Perrigo by 50.0% during the first quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the company's stock worth $84,000 after buying an additional 1,000 shares in the last quarter. 95.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Perrigo from $38.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Canaccord Genuity Group lowered their price target on shares of Perrigo from $42.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Finally, Wall Street Zen raised shares of Perrigo from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Perrigo has a consensus rating of "Hold" and a consensus price target of $33.00.

Perrigo Trading Up 4.5%

Shares of NYSE:PRGO opened at $24.4940 on Friday. The company's 50-day moving average price is $26.08 and its two-hundred day moving average price is $26.22. 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 one year low of $21.03 and a one year high of $30.93. The stock has a market capitalization of $3.37 billion, a PE ratio of -42.23 and a beta of 0.47.

Perrigo (NYSE:PRGO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the firm earned $0.53 earnings per share. The company's quarterly revenue was down .9% compared to the same quarter last year. On average, equities analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, August 29th. Perrigo's dividend payout ratio is presently -200.00%.

Insider Activity

In other news, CFO Eduardo Guarita Bezerra bought 3,000 shares of the company's stock in a transaction dated Monday, August 18th. The shares were bought at an average cost of $22.74 per share, with a total value of $68,220.00. Following the acquisition, the chief financial officer owned 48,949 shares in the company, 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 is accessible through this link. Also, Director Geoffrey M. Parker bought 4,375 shares of the company's stock in a transaction dated Monday, August 18th. The stock was purchased at an average cost of $22.97 per share, for a total transaction of $100,493.75. Following the completion of the acquisition, the director owned 33,287 shares in the company, valued at $764,602.39. This trade represents a 15.13% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 8,863 shares of company stock valued at $204,575. 0.70% of the stock is owned by company insiders.

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.

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