Janney Montgomery Scott LLC Invests $530,000 in Perrigo Company plc (NYSE:PRGO)

Janney Montgomery Scott LLC purchased a new position in shares of Perrigo Company plc (NYSE:PRGO – Get Rating) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 14,874 shares of the company’s stock, valued at approximately $530,000.

A number of other hedge funds have also made changes to their positions in PRGO. CIBC Private Wealth Group LLC acquired a new stake in shares of Perrigo during the second quarter worth approximately $32,000. Private Trust Co. NA grew its position in shares of Perrigo by 228.5% during the third quarter. Private Trust Co. NA now owns 910 shares of the company’s stock worth $32,000 after buying an additional 633 shares in the last quarter. Washington Trust Advisors Inc. acquired a new stake in shares of Perrigo during the second quarter worth approximately $39,000. Venture Visionary Partners LLC acquired a new stake in shares of Perrigo during the second quarter worth approximately $41,000. Finally, Fifth Third Bancorp grew its position in shares of Perrigo by 117.0% during the third quarter. Fifth Third Bancorp now owns 1,274 shares of the company’s stock worth $45,000 after buying an additional 687 shares in the last quarter. Institutional investors and hedge funds own 94.09% of the company’s stock.

Insider Activity

In related news, EVP Grainne Quinn sold 2,368 shares of Perrigo stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $31.65, for a total transaction of $74,947.20. Following the sale, the executive vice president now directly owns 9,118 shares in the company, valued at $288,584.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.80% of the company’s stock.

Perrigo Stock Performance

Shares of PRGO opened at $36.52 on Monday. Perrigo Company plc has a 1 year low of $30.78 and a 1 year high of $43.90. The company has a market cap of $4.92 billion, a price-to-earnings ratio of -57.97 and a beta of 0.79. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.48 and a current ratio of 2.55. The firm has a fifty day moving average of $33.44 and a 200-day moving average of $37.41.

Perrigo (NYSE:PRGO – Get Rating) last announced its quarterly earnings results on Tuesday, November 8th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.10). Perrigo had a negative net margin of 1.93% and a positive return on equity of 5.31%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm posted $0.45 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts anticipate that Perrigo Company plc will post 2.02 earnings per share for the current year.

Perrigo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 20th. Stockholders of record on Friday, December 2nd were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, December 1st. Perrigo’s dividend payout ratio (DPR) is -165.08%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PRGO. Raymond James decreased their price objective on shares of Perrigo from $48.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, November 9th. StockNews.com began coverage on shares of Perrigo in a report on Wednesday, October 12th. They issued a “hold” rating for the company.

About Perrigo

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Perrigo Co Plc engages in the provision of self-care products and over-the-counter (OTC) health and wellness solutions. It enhances individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. It operates through the following segments: Consumer Self-Care Americas (CSCA) and Consumer Self-Care International (CSCI).