Perrigo Company plc (NYSE:PRGO) Shares Purchased by Raymond James & Associates

Raymond James & Associates lifted its position in Perrigo Company plc (NYSE:PRGO - Free Report) by 78.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,789 shares of the company's stock after acquiring an additional 74,782 shares during the period. Raymond James & Associates owned 0.13% of Perrigo worth $5,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of PRGO. Wolf Hill Capital Management LP increased its position in shares of Perrigo by 168.9% during the 1st quarter. Wolf Hill Capital Management LP now owns 3,959,634 shares of the company's stock worth $142,032,000 after purchasing an additional 2,486,987 shares during the last quarter. Cooper Creek Partners Management LLC grew its position in Perrigo by 1,080.0% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 1,872,508 shares of the company's stock valued at $59,827,000 after acquiring an additional 1,713,827 shares in the last quarter. Norges Bank purchased a new stake in Perrigo during the fourth quarter worth about $45,075,000. Millennium Management LLC raised its stake in shares of Perrigo by 256.1% in the fourth quarter. Millennium Management LLC now owns 1,420,648 shares of the company's stock valued at $48,430,000 after acquiring an additional 1,021,709 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Perrigo in the 1st quarter valued at about $24,684,000. Hedge funds and other institutional investors own 95.91% of the company's stock.

Perrigo Price Performance

Shares of NYSE PRGO traded down $0.68 on Wednesday, hitting $31.54. The company's stock had a trading volume of 932,829 shares, compared to its average volume of 1,929,941. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.07. The stock has a 50 day moving average of $30.87 and a 200-day moving average of $30.83. Perrigo Company plc has a 12-month low of $25.77 and a 12-month high of $40.28. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of -315.40 and a beta of 0.64.

Perrigo (NYSE:PRGO - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. Perrigo had a positive return on equity of 7.34% and a negative net margin of 0.27%. Perrigo's revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 earnings per share. As a group, research analysts predict that Perrigo Company plc will post 2.55 EPS for the current year.

Perrigo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Friday, March 8th were paid a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date was Thursday, March 7th. This is a positive change from Perrigo's previous quarterly dividend of $0.27. Perrigo's dividend payout ratio is currently -1,100.00%.

Insider Activity

In other Perrigo news, EVP Alison Ives purchased 2,490 shares of the stock in a transaction on Tuesday, March 5th. The stock was bought at an average price of $27.26 per share, for a total transaction of $67,877.40. Following the acquisition, the executive vice president now directly owns 16,122 shares of the company's stock, valued at $439,485.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Robert Willis bought 6,000 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The shares were acquired at an average cost of $25.87 per share, with a total value of $155,220.00. Following the transaction, the executive vice president now owns 25,105 shares of the company's stock, valued at approximately $649,466.35. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Alison Ives purchased 2,490 shares of the stock in a transaction on Tuesday, March 5th. The shares were purchased at an average cost of $27.26 per share, with a total value of $67,877.40. Following the transaction, the executive vice president now owns 16,122 shares of the company's stock, valued at approximately $439,485.72. The disclosure for this purchase can be found here. Insiders acquired a total of 17,990 shares of company stock valued at $475,227 over the last quarter. Company insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

PRGO has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on Perrigo from $35.00 to $39.00 and gave the company an "overweight" rating in a report on Monday. JPMorgan Chase & Co. lowered their price objective on shares of Perrigo from $48.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 28th. Finally, StockNews.com upgraded Perrigo from a "hold" rating to a "buy" rating in a research note on Wednesday, April 3rd.

Perrigo 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.