Guggenheim Capital LLC Raises Stock Holdings in Perrigo Company plc (NYSE:PRGO)

Guggenheim Capital LLC grew its holdings in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 50.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,844 shares of the company's stock after buying an additional 15,648 shares during the period. Guggenheim Capital LLC's holdings in Perrigo were worth $1,204,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Headlands Technologies LLC boosted its stake in Perrigo by 1,942.0% during the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock worth $36,000 after acquiring an additional 1,340 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of Perrigo in the 4th quarter worth approximately $45,000. GAMMA Investing LLC grew its stake in shares of Perrigo by 93.7% in the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock worth $49,000 after buying an additional 929 shares during the last quarter. Central Pacific Bank Trust Division increased its position in Perrigo by 33.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company's stock valued at $51,000 after buying an additional 500 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Perrigo by 97.8% during the fourth quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company's stock valued at $108,000 after buying an additional 2,084 shares during the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $27.44, for a total value of $214,032.00. Following the completion of the transaction, the executive vice president now directly owns 33,666 shares in the company, valued at approximately $923,795.04. The trade was a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PRGO. Argus downgraded Perrigo from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. StockNews.com cut shares of Perrigo from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Finally, Piper Sandler downgraded shares of Perrigo from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $34.00 to $27.00 in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $33.00.

Perrigo Price Performance

Perrigo stock traded up $0.37 during mid-day trading on Friday, hitting $25.26. The stock had a trading volume of 1,145,059 shares, compared to its average volume of 1,526,970. 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 firm has a market capitalization of $3.45 billion, a P/E ratio of -21.59 and a beta of 0.49. The firm's 50 day moving average is $26.52 and its 200 day moving average is $26.07. Perrigo Company plc has a one year low of $23.14 and a one year high of $33.46.

Perrigo (NYSE:PRGO - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.01. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. On average, sell-side analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were issued a $0.29 dividend. This is a positive change from Perrigo's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.59%. Perrigo's payout ratio is presently -92.80%.

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.