Ion Asset Management Ltd. Has $72.50 Million Stock Holdings in Perrigo Company plc (NYSE:PRGO)

Ion Asset Management Ltd. boosted its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 50.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,820,000 shares of the company's stock after purchasing an additional 941,667 shares during the period. Perrigo makes up 4.2% of Ion Asset Management Ltd.'s portfolio, making the stock its 5th largest position. Ion Asset Management Ltd. owned 2.07% of Perrigo worth $72,502,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Perrigo by 6,828.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,845,539 shares of the company's stock valued at $201,710,000 after acquiring an additional 7,732,309 shares during the last quarter. Norges Bank purchased a new stake in Perrigo during the 4th quarter valued at $36,614,000. Bahl & Gaynor Inc. grew its holdings in Perrigo by 44.9% in the 4th quarter. Bahl & Gaynor Inc. now owns 1,525,197 shares of the company's stock worth $39,213,000 after acquiring an additional 472,958 shares during the last quarter. Access Investment Management LLC purchased a new position in shares of Perrigo in the fourth quarter valued at about $7,989,000. Finally, Northern Trust Corp boosted its holdings in shares of Perrigo by 21.5% during the fourth quarter. Northern Trust Corp now owns 1,390,007 shares of the company's stock worth $35,737,000 after purchasing an additional 246,098 shares during the period. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Perrigo Stock Up 1.5 %

Shares of NYSE:PRGO traded up $0.38 during midday trading on Friday, reaching $25.65. The company's stock had a trading volume of 888,624 shares, compared to its average volume of 1,522,933. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The firm has a 50 day moving average of $26.56 and a 200-day moving average of $26.10. The firm has a market capitalization of $3.50 billion, a P/E ratio of -21.92 and a beta of 0.45. Perrigo Company plc has a 12-month low of $23.14 and a 12-month high of $33.46.

Perrigo (NYSE:PRGO - Get Free Report) last announced 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 business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. On average, research analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend is Friday, May 30th. Perrigo's dividend payout ratio is presently -92.80%.

Insider Buying and Selling

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the stock in a transaction on Monday, March 10th. The stock was 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 in the company, valued at approximately $923,795.04. This trade represents a 18.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Argus cut Perrigo from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. StockNews.com downgraded shares of Perrigo from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, Piper Sandler cut shares of Perrigo from an "overweight" rating to a "neutral" rating and dropped their target price for the stock 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 issued a buy rating to the stock. According to MarketBeat, Perrigo has a consensus rating of "Hold" and an average target price 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.