Trexquant Investment LP Has $3.90 Million Stock Position in Perrigo Company plc $PRGO

Key Points

• Trexquant Investment LP significantly increased its stake in Perrigo Company plc by 196.4%, owning approximately $3.90 million worth of shares as of its most recent SEC filing.
• Insider buying activity was noted, with CFO Eduardo Guarita Bezerra purchasing 3,000 shares and Director Geoffrey M. Parker acquiring 4,375 shares, marking increases in their respective positions.
• Perrigo's recent earnings report showed a missed estimate, with a revenue decline of 0.9% year-over-year, leading analysts to adjust price targets and ratings, resulting in a consensus rating of "Hold".

Trexquant Investment LP grew its stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 196.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 139,157 shares of the company's stock after buying an additional 92,215 shares during the quarter. Trexquant Investment LP owned approximately 0.10% of Perrigo worth $3,902,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Keeley Teton Advisors LLC grew its stake in shares of Perrigo by 0.9% during the first quarter. Keeley Teton Advisors LLC now owns 375,680 shares of the company's stock worth $10,534,000 after buying an additional 3,352 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its stake in shares of Perrigo by 450.7% during the first quarter. Campbell & CO Investment Adviser LLC now owns 147,384 shares of the company's stock worth $4,133,000 after buying an additional 120,623 shares during the last quarter. Systematic Financial Management LP grew its stake in shares of Perrigo by 0.7% during the first quarter. Systematic Financial Management LP now owns 1,310,196 shares of the company's stock worth $36,738,000 after buying an additional 8,472 shares during the last quarter. Bahl & Gaynor Inc. grew its stake in shares of Perrigo by 40.7% in the first quarter. Bahl & Gaynor Inc. now owns 2,146,352 shares of the company's stock worth $60,184,000 after purchasing an additional 621,155 shares during the last quarter. Finally, Martingale Asset Management L P bought a new stake in shares of Perrigo in the first quarter worth $203,000. Institutional investors own 95.91% of the company's stock.

Insider Activity at Perrigo

In related news, Director Geoffrey M. Parker acquired 4,375 shares of the company's stock in a transaction dated Monday, August 18th. The shares were purchased at an average price of $22.97 per share, for a total transaction of $100,493.75. Following the completion of the acquisition, the director owned 33,287 shares of the company's stock, valued at approximately $764,602.39. This trade represents a 15.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Eduardo Guarita Bezerra acquired 3,000 shares of the company's stock in a transaction dated Monday, August 18th. The shares were bought at an average price of $22.74 per share, for a total transaction of $68,220.00. Following the acquisition, the chief financial officer directly owned 48,949 shares of the company's stock, valued at approximately $1,113,100.26. This trade represents a 6.53% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 8,863 shares of company stock worth $204,575 over the last quarter. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

PRGO has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Perrigo from $38.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Wall Street Zen cut shares of Perrigo from a "buy" rating to a "hold" rating in a research note on Sunday, August 24th. Finally, Canaccord Genuity Group reduced their price objective on shares of Perrigo from $42.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $33.00.

Perrigo Trading Down 0.3%

PRGO stock traded down $0.06 during midday trading on Thursday, hitting $23.27. The stock had a trading volume of 1,466,162 shares, compared to its average volume of 1,475,679. The firm has a market cap of $3.20 billion, a P/E ratio of -40.12 and a beta of 0.48. The company has a current ratio of 2.32, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Perrigo Company plc has a 1-year low of $21.03 and a 1-year high of $30.93. The business has a fifty day moving average price of $25.63 and a two-hundred day moving average price of $26.17.

Perrigo (NYSE:PRGO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.02). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.08 billion. Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. Perrigo's quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 EPS. On average, sell-side analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 29th will be issued a $0.29 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.16 annualized dividend and a yield of 5.0%. Perrigo's payout ratio is presently -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.