abrdn plc Takes Position in Perrigo Company plc (NYSE:PRGO)

abrdn plc bought a new position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 44,174 shares of the company's stock, valued at approximately $1,422,000.

Several other large investors have also made changes to their positions in PRGO. Cooper Creek Partners Management LLC boosted its position in shares of Perrigo by 1,080.0% during the 3rd quarter. Cooper Creek Partners Management LLC now owns 1,872,508 shares of the company's stock worth $59,827,000 after acquiring an additional 1,713,827 shares in the last quarter. Glenmede Trust Co. NA boosted its position in shares of Perrigo by 1,938.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 301,019 shares of the company's stock worth $9,618,000 after acquiring an additional 286,251 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. acquired a new stake in shares of Perrigo during the 3rd quarter worth approximately $8,957,000. Allspring Global Investments Holdings LLC boosted its position in Perrigo by 62.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 694,236 shares of the company's stock valued at $22,181,000 after buying an additional 265,733 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in Perrigo by 1,269.6% in the third quarter. Hsbc Holdings PLC now owns 251,504 shares of the company's stock valued at $8,061,000 after buying an additional 233,141 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company's stock.

Perrigo Trading Down 0.5 %

Shares of PRGO stock traded down $0.15 during trading hours on Tuesday, hitting $32.66. 1,066,414 shares of the company's stock traded hands, compared to its average volume of 1,792,497. The stock's 50 day simple moving average is $30.54 and its 200 day simple moving average is $30.82. The stock has a market cap of $4.43 billion, a PE ratio of -326.60 and a beta of 0.64. Perrigo Company plc has a 12 month low of $25.77 and a 12 month high of $40.28. The company has a quick ratio of 1.07, a current ratio of 1.79 and a debt-to-equity ratio of 0.76.

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

Perrigo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors 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 yield of 3.38%. The ex-dividend date was Thursday, March 7th. This is an increase from Perrigo's previous quarterly dividend of $0.27. Perrigo's dividend payout ratio (DPR) is currently -1,100.00%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PRGO. Canaccord Genuity Group restated a "buy" rating and issued a $42.00 target price on shares of Perrigo in a research report on Friday, April 12th. JPMorgan Chase & Co. cut their target price 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. Piper Sandler raised their target price on shares of Perrigo from $35.00 to $39.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. Finally, StockNews.com upgraded shares of Perrigo from a "hold" rating to a "buy" rating in a research report on Wednesday, April 3rd.

Insider Buying and Selling

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

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.