GAMMA Investing LLC Takes $30,000 Position in Perrigo Company plc (NYSE:PRGO)

GAMMA Investing LLC acquired a new position in shares of Perrigo Company plc (NYSE:PRGO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 947 shares of the company’s stock, valued at approximately $30,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Qube Research & Technologies Ltd acquired a new stake in Perrigo during the third quarter worth about $5,447,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Perrigo in the 3rd quarter worth about $2,006,000. abrdn plc bought a new position in Perrigo in the 4th quarter worth about $1,422,000. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Perrigo by 94.1% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 46,118 shares of the company’s stock valued at $1,473,000 after acquiring an additional 22,354 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Perrigo by 4.1% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 9,627 shares of the company’s stock valued at $310,000 after acquiring an additional 380 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Insider Activity at Perrigo

In other news, EVP Alison Ives purchased 2,490 shares of Perrigo stock in a transaction that occurred on Tuesday, March 5th. The stock was acquired at an average price of $27.26 per share, for a total transaction of $67,877.40. Following the transaction, the executive vice president now owns 16,122 shares in the company, valued at $439,485.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Alison Ives purchased 2,490 shares of Perrigo stock in a transaction that occurred on Tuesday, March 5th. The stock was acquired at an average price of $27.26 per share, for a total transaction of $67,877.40. Following the transaction, the executive vice president now owns 16,122 shares in the company, valued at $439,485.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick Lockwood-Taylor purchased 9,500 shares of Perrigo stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average price of $26.54 per share, with a total value of $252,130.00. Following the transaction, the chief executive officer now owns 20,500 shares in the company, valued at approximately $544,070. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 17,990 shares of company stock worth $475,227. 0.40% of the stock is owned by corporate insiders.

Perrigo Trading Up 2.0 %

Shares of NYSE:PRGO opened at $33.43 on Tuesday. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of -334.30 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 company has a debt-to-equity ratio of 0.76, a quick ratio of 1.07 and a current ratio of 1.79. The company has a 50 day moving average price of $30.60 and a 200 day moving average price of $30.90.

Perrigo (NYSE:PRGO) last issued its earnings results on Tuesday, February 27th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Perrigo had a negative net margin of 0.27% and a positive return on equity of 7.34%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the firm posted $0.75 earnings per share. On average, research analysts anticipate that Perrigo Company plc will post 2.55 EPS for the current fiscal year.

Perrigo Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a report on Friday, April 12th. JPMorgan Chase & Co. decreased their price objective on shares of Perrigo from $48.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Finally, Piper Sandler increased their price objective on shares of Perrigo from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Monday, April 8th.

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.