Perrigo Company plc $PRGO Shares Bought by Millennium Management LLC

Millennium Management LLC increased its stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 5,198.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,052,599 shares of the company's stock after acquiring an additional 2,013,856 shares during the quarter. Millennium Management LLC owned about 1.49% of Perrigo worth $57,555,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Picton Mahoney Asset Management bought a new position in shares of Perrigo during the first quarter worth $42,000. Parallel Advisors LLC lifted its position 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 purchasing an additional 1,095 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Perrigo by 138.3% during the first quarter. First Horizon Advisors Inc. now owns 1,754 shares of the company's stock valued at $49,000 after purchasing an additional 1,018 shares during the last quarter. Fifth Third Bancorp lifted its position in Perrigo by 62.0% during the first quarter. Fifth Third Bancorp now owns 2,218 shares of the company's stock valued at $62,000 after purchasing an additional 849 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Perrigo by 110.4% during the first quarter. Blue Trust Inc. now owns 2,619 shares of the company's stock valued at $73,000 after purchasing an additional 1,374 shares during the last quarter. Institutional investors own 95.91% of the company's stock.

Perrigo Trading Down 1.3%

Shares of PRGO traded down $0.29 during midday trading on Friday, hitting $22.26. The stock had a trading volume of 1,328,437 shares, compared to its average volume of 1,416,799. Perrigo Company plc has a 1 year low of $21.03 and a 1 year high of $30.93. The firm has a market cap of $3.06 billion, a PE ratio of -38.38 and a beta of 0.48. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24. The stock's 50 day moving average is $25.00 and its 200 day moving average is $26.06.

Perrigo (NYSE:PRGO - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate 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 firm 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 company posted $0.53 EPS. The company's revenue was down .9% compared to the same quarter last year. As a group, analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal 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 paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Friday, August 29th. Perrigo's dividend payout ratio (DPR) is currently -200.00%.

Wall Street Analyst Weigh In

PRGO has been the subject of several research reports. Wall Street Zen upgraded shares of Perrigo from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Canaccord Genuity Group lowered their price objective on shares of Perrigo from $42.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Perrigo from $38.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $33.00.

Insider Activity at Perrigo

In related news, EVP Robert Willis purchased 1,488 shares of Perrigo stock in a transaction that occurred on Friday, August 22nd. The shares were bought at an average price of $24.10 per share, with a total value of $35,860.80. Following the purchase, the executive vice president directly owned 41,939 shares of the company's stock, valued at approximately $1,010,729.90. This represents a 3.68% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Geoffrey M. Parker purchased 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, for a total transaction of $100,493.75. Following the purchase, the director directly owned 33,287 shares in the company, valued at $764,602.39. This trade represents a 15.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 10,118 shares of company stock worth $232,699. 0.70% of the stock is currently owned by corporate 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.