Perrigo Company plc (NYSE:PRGO) Holdings Increased by Monaco Asset Management SAM

Key Points

• Monaco Asset Management SAM increased its stake in Perrigo Company plc by 12.6%, acquiring an additional 22,500 shares in the first quarter, making it the fund's 10th largest position.
• Wall Street analysts have downgraded Perrigo from a "buy" to a "hold" rating, with a consensus target price of $33.00.
• Perrigo reported an EPS of $0.60 in its latest earnings results, surpassing estimates, but its revenue was down 3.5% year-over-year.

Monaco Asset Management SAM boosted its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 12.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 201,595 shares of the company's stock after buying an additional 22,500 shares during the quarter. Perrigo accounts for approximately 1.2% of Monaco Asset Management SAM's holdings, making the stock its 10th biggest position. Monaco Asset Management SAM owned approximately 0.15% of Perrigo worth $5,653,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. American Assets Inc. bought a new stake in shares of Perrigo during the 4th quarter valued at about $386,000. HighTower Advisors LLC grew its stake in shares of Perrigo by 8.5% during the 4th quarter. HighTower Advisors LLC now owns 13,307 shares of the company's stock valued at $342,000 after purchasing an additional 1,043 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Perrigo by 5.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 43,927 shares of the company's stock valued at $1,129,000 after purchasing an additional 2,365 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Perrigo during the 4th quarter valued at about $710,000. Finally, LPL Financial LLC grew its stake in shares of Perrigo by 34.4% during the 4th quarter. LPL Financial LLC now owns 37,738 shares of the company's stock valued at $970,000 after purchasing an additional 9,663 shares during the period. Hedge funds and other institutional investors own 95.91% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Perrigo from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $33.00.

Perrigo Stock Performance

Shares of NYSE:PRGO traded up $0.02 during mid-day trading on Friday, reaching $26.69. 1,115,239 shares of the company traded hands, compared to its average volume of 920,349. The company's 50 day moving average price is $27.01 and its 200-day moving average price is $26.34. The firm has a market cap of $3.67 billion, a PE ratio of -20.37 and a beta of 0.47. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.36 and a quick ratio of 1.28. Perrigo Company plc has a 52 week low of $23.14 and a 52 week high of $30.93.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.09 billion. Perrigo had a positive return on equity of 8.93% and a negative net margin of 4.16%. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 EPS. On average, equities analysts expect 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 issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, August 29th. Perrigo's dividend payout ratio 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.