Nuveen LLC Acquires New Shares in Perrigo Company plc $PRGO

Key Points

• Nuveen LLC has acquired 258,751 shares of Perrigo Company plc, valued at approximately $7.25 million, representing a 0.19% stake in the company.
• In a recent insider transaction, Director Geoffrey M. Parker purchased 4,375 shares at an average cost of $22.97, increasing his ownership by 15.13%.
• Perrigo reported $0.57 earnings per share for the last quarter, falling short of the consensus estimate of $0.59, with revenue decreasing by 0.9% year-over-year.

Nuveen LLC bought a new position in Perrigo Company plc (NYSE:PRGO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 258,751 shares of the company's stock, valued at approximately $7,255,000. Nuveen LLC owned approximately 0.19% of Perrigo at the end of the most recent quarter.

Several 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 stake in Perrigo during the 1st quarter valued at approximately $42,000. Parallel Advisors LLC grew its holdings in Perrigo by 176.9% during 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 in the last quarter. First Horizon Advisors Inc. grew its holdings in Perrigo by 138.3% during 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 in the last quarter. Fifth Third Bancorp grew its holdings in Perrigo by 62.0% during the 1st quarter. Fifth Third Bancorp now owns 2,218 shares of the company's stock valued at $62,000 after buying an additional 849 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Perrigo by 110.4% during the 1st quarter. Blue Trust Inc. now owns 2,619 shares of the company's stock valued at $73,000 after acquiring an additional 1,374 shares during the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Perrigo

In other Perrigo news, Director Geoffrey M. Parker bought 4,375 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of $22.97 per share, for a total transaction of $100,493.75. Following the completion of the transaction, the director 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Willis bought 1,488 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were acquired at an average price of $24.10 per share, with a total value of $35,860.80. Following the completion of the transaction, the executive vice president owned 41,939 shares of the company's stock, valued at approximately $1,010,729.90. The trade was a 3.68% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 8,863 shares of company stock worth $204,575. 0.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Perrigo from a "buy" rating to a "hold" rating in a report on Sunday. Canaccord Genuity Group cut their target price 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, JPMorgan Chase & Co. cut their target price 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. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $33.00.

Perrigo Trading Down 0.5%

PRGO traded down $0.12 during trading on Thursday, reaching $23.78. The company had a trading volume of 1,372,521 shares, compared to its average volume of 1,480,673. The stock has a market cap of $3.27 billion, a P/E ratio of -40.99 and a beta of 0.47. The business has a 50 day simple moving average of $25.93 and a 200-day simple moving average of $26.20. Perrigo Company plc has a 52 week low of $21.03 and a 52 week 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 released 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 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 quarter last year, the business posted $0.53 earnings per share. The firm's revenue for the quarter was down .9% compared to the same quarter last year. On average, equities analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders 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 dividend yield of 4.9%. The ex-dividend date is Friday, August 29th. Perrigo's dividend payout ratio (DPR) is -200.00%.

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.