Vestal Point Capital LP Purchases Shares of 375,000 Perrigo Company plc (NYSE:PRGO)

Vestal Point Capital LP bought a new position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 375,000 shares of the company's stock, valued at approximately $9,641,000. Vestal Point Capital LP owned 0.27% of Perrigo as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Barclays PLC increased 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 buying an additional 37,268 shares during the period. Nisa Investment Advisors LLC raised its holdings in Perrigo by 10.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 304,948 shares of the company's stock worth $7,840,000 after purchasing an additional 28,843 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Perrigo in the fourth quarter valued at about $691,000. Janney Montgomery Scott LLC boosted its holdings in Perrigo by 39.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 90,624 shares of the company's stock valued at $2,330,000 after purchasing an additional 25,472 shares in the last quarter. Finally, Sound Income Strategies LLC raised its stake in shares of Perrigo by 28.6% during the 4th quarter. Sound Income Strategies LLC now owns 482,811 shares of the company's stock worth $12,413,000 after buying an additional 107,427 shares in the last quarter. 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 Wednesday, February 19th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Perrigo has a consensus rating of "Hold" and an average price target of $33.00.

Perrigo Price Performance

NYSE PRGO traded down $0.51 during mid-day trading on Thursday, hitting $26.41. The stock had a trading volume of 911,814 shares, compared to its average volume of 1,525,479. The company has a 50 day simple moving average of $26.25 and a 200 day simple moving average of $26.18. The company has a market cap of $3.63 billion, a price-to-earnings ratio of -22.57 and a beta of 0.45. Perrigo Company plc has a 52-week low of $23.14 and a 52-week high of $30.93. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94.

Perrigo (NYSE:PRGO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate 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 positive return on equity of 7.38% and a negative net margin of 3.64%. Perrigo's revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 earnings per share. Equities analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The firm 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. This represents a $1.16 annualized dividend and a dividend yield of 4.39%. The ex-dividend date is Friday, May 30th. Perrigo's dividend payout ratio (DPR) is presently -88.55%.

Insider Activity

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

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.