Millennium Management LLC Purchases 2,013,856 Shares of Perrigo Company plc $PRGO

Millennium Management LLC lifted its position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 5,198.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,052,599 shares of the company's stock after buying an additional 2,013,856 shares during the quarter. Millennium Management LLC owned approximately 1.49% of Perrigo worth $57,555,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new position in Perrigo during the first quarter valued at approximately $42,000. Parallel Advisors LLC raised its holdings in shares of Perrigo by 176.9% in the 1st quarter. Parallel Advisors LLC now owns 1,714 shares of the company's stock valued at $48,000 after buying an additional 1,095 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Perrigo by 138.3% in the 1st quarter. First Horizon Advisors Inc. now owns 1,754 shares of the company's stock valued at $49,000 after buying an additional 1,018 shares during the period. Fifth Third Bancorp increased its holdings in Perrigo by 62.0% during the 1st 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. Finally, Blue Trust Inc. increased its holdings in Perrigo by 110.4% during the 1st 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. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Perrigo Stock Performance

Shares of NYSE:PRGO traded down $0.29 during trading on Friday, hitting $22.26. 1,328,437 shares of the company traded hands, compared to its average volume of 1,416,799. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of -38.38 and a beta of 0.48. The business's fifty day moving average is $25.00 and its 200-day moving average is $26.05. Perrigo Company plc has a one year low of $21.03 and a one year high of $30.93. The company has a quick ratio of 1.24, a current ratio of 2.32 and a debt-to-equity ratio of 0.81.

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

Perrigo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 29th will be given a dividend of $0.29 per share. 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 is presently -200.00%.

Insider Buying and Selling at Perrigo

In related news, CFO Eduardo Guarita Bezerra bought 3,000 shares of Perrigo stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average price of $22.74 per share, for a total transaction of $68,220.00. Following the completion of the purchase, the chief financial officer owned 48,949 shares in the company, valued at approximately $1,113,100.26. This represents a 6.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Abigail Lennox purchased 1,255 shares of the business's stock in a transaction on Monday, September 8th. The shares were acquired at an average price of $22.41 per share, with a total value of $28,124.55. Following the purchase, the executive vice president owned 1,255 shares of the company's stock, valued at approximately $28,124.55. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 10,118 shares of company stock valued at $232,699. Corporate insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

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

Perrigo Company 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.