Van ECK Associates Corp Sells 27,613 Shares of Perrigo Company plc (NYSE:PRGO)

Van ECK Associates Corp lessened its stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 16.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,532 shares of the company's stock after selling 27,613 shares during the period. Van ECK Associates Corp owned 0.10% of Perrigo worth $4,426,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new position in shares of Perrigo in the 4th quarter valued at $30,000. Parkside Financial Bank & Trust increased its stake in shares of Perrigo by 1,694.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company's stock valued at $34,000 after purchasing an additional 983 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Perrigo by 34.5% in the 4th quarter. Blue Trust Inc. now owns 1,556 shares of the company's stock valued at $50,000 after purchasing an additional 399 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Perrigo by 39.5% in the 3rd quarter. Fifth Third Bancorp now owns 1,714 shares of the company's stock valued at $55,000 after purchasing an additional 485 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of Perrigo by 25.6% in the 4th quarter. Signaturefd LLC now owns 2,240 shares of the company's stock valued at $72,000 after purchasing an additional 457 shares during the last quarter. Institutional investors own 95.91% of the company's stock.

Analyst Upgrades and Downgrades

PRGO has been the topic of a number of research reports. StockNews.com upgraded Perrigo from a "hold" rating to a "buy" rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. reduced their price objective on Perrigo from $48.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 28th. Canaccord Genuity Group restated a "buy" rating and set a $42.00 price objective on shares of Perrigo in a research report on Friday, April 12th. Finally, Piper Sandler boosted their price objective on Perrigo from $35.00 to $39.00 and gave the stock an "overweight" rating in a research report on Monday, April 8th.

Perrigo Trading Up 2.0 %

PRGO traded up $0.64 during midday trading on Monday, hitting $33.43. 1,729,338 shares of the company were exchanged, compared to its average volume of 1,779,571. The firm has a market capitalization of $4.53 billion, a P/E ratio of -327.90 and a beta of 0.63. Perrigo Company plc has a 1-year low of $25.77 and a 1-year high of $40.28. The firm's 50 day moving average price is $30.60 and its 200-day moving average price is $30.90. 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 announced its earnings results on Tuesday, February 27th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03. The firm had revenue of $1.16 billion for 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%. The business's quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 EPS. As a group, equities analysts forecast that Perrigo Company plc will post 2.55 EPS for the current fiscal year.

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Friday, May 31st. Perrigo's payout ratio is presently -1,100.00%.

Insider Activity at Perrigo

In other Perrigo news, CEO Patrick Lockwood-Taylor bought 9,500 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average price of $26.54 per share, for a total transaction of $252,130.00. Following the transaction, the chief executive officer now directly owns 20,500 shares in the company, valued at $544,070. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Perrigo news, CEO Patrick Lockwood-Taylor bought 9,500 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average price of $26.54 per share, for a total transaction of $252,130.00. Following the transaction, the chief executive officer now directly owns 20,500 shares in the company, valued at $544,070. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 price of $25.87 per share, for a total transaction of $155,220.00. Following the transaction, the executive vice president now owns 25,105 shares in the company, valued at $649,466.35. The disclosure for this purchase can be found here. Insiders have acquired a total of 17,990 shares of company stock worth $475,227 in the last 90 days. Corporate 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.