Novem Group Invests $2.60 Million in Perrigo Company plc (NYSE:PRGO)

Novem Group purchased a new position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 101,167 shares of the company's stock, valued at approximately $2,601,000. Novem Group owned 0.07% of Perrigo as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Barclays PLC grew its stake in Perrigo by 44.8% in the 3rd quarter. Barclays PLC now owns 120,502 shares of the company's stock valued at $3,160,000 after acquiring an additional 37,268 shares during the last quarter. Access Investment Management LLC acquired a new stake in Perrigo in the 4th quarter valued at about $7,989,000. Charles Schwab Investment Management Inc. grew its stake in Perrigo by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,048,005 shares of the company's stock valued at $26,944,000 after acquiring an additional 13,835 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Perrigo in the 4th quarter valued at about $3,177,000. Finally, SG Americas Securities LLC acquired a new stake in Perrigo in the 4th quarter valued at about $691,000. 95.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of Perrigo stock in a transaction on Monday, March 10th. The shares were sold at an average price of $27.44, for a total value of $214,032.00. Following the transaction, the executive vice president now owns 33,666 shares in the company, valued at $923,795.04. This trade represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by company insiders.

Perrigo Price Performance

NYSE:PRGO opened at $27.42 on Wednesday. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of -23.44 and a beta of 0.45. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The company's 50-day moving average is $26.26 and its two-hundred day moving average is $26.17. Perrigo Company plc has a 12-month low of $23.14 and a 12-month high of $30.93.

Perrigo (NYSE:PRGO - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.04. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.09 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The firm's quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 EPS. Research analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Friday, May 30th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.23%. Perrigo's dividend payout ratio (DPR) is presently -88.55%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Perrigo from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Perrigo presently has a consensus rating of "Hold" and an average price target 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.

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