Parallel Advisors LLC Raises Holdings in Perrigo Company plc (NYSE:PRGO)

Parallel Advisors LLC raised its position in Perrigo Company plc (NYSE:PRGOFree Report) by 69.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,009 shares of the company’s stock after purchasing an additional 821 shares during the period. Parallel Advisors LLC’s holdings in Perrigo were worth $65,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in Perrigo by 40.3% during the third quarter. Barclays PLC now owns 150,422 shares of the company’s stock worth $4,804,000 after acquiring an additional 43,203 shares during the last quarter. Kestra Private Wealth Services LLC purchased a new position in Perrigo in the 3rd quarter worth approximately $257,000. Swiss National Bank boosted its holdings in shares of Perrigo by 1.2% during the 3rd quarter. Swiss National Bank now owns 297,500 shares of the company’s stock worth $9,505,000 after purchasing an additional 3,400 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Perrigo by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,379,041 shares of the company’s stock valued at $44,060,000 after purchasing an additional 65,123 shares during the last quarter. Finally, Pathstone Family Office LLC lifted its position in Perrigo by 11.2% during the third quarter. Pathstone Family Office LLC now owns 10,936 shares of the company’s stock worth $349,000 after buying an additional 1,102 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Insider Transactions at Perrigo

In other news, EVP Svend Andersen acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were purchased at an average price of $27.90 per share, for a total transaction of $27,900.00. Following the acquisition, the executive vice president now owns 101,853 shares of the company’s stock, valued at $2,841,698.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PRGO. Piper Sandler upped their target price on Perrigo from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Monday, April 8th. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Wednesday, May 29th. Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 target price on shares of Perrigo in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. cut their price target 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.

Read Our Latest Research Report on PRGO

Perrigo Stock Up 2.3 %

Shares of NYSE:PRGO opened at $27.00 on Friday. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of -385.71 and a beta of 0.56. Perrigo Company plc has a 12-month low of $25.77 and a 12-month high of $40.28. The business has a 50-day moving average price of $30.29 and a 200 day moving average price of $30.93. The company has a current ratio of 1.81, a quick ratio of 1.08 and a debt-to-equity ratio of 0.77.

Perrigo (NYSE:PRGOGet Free Report) last announced its quarterly earnings results on Saturday, May 4th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. Perrigo had a negative net margin of 0.17% and a positive return on equity of 6.96%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the business earned $0.45 earnings per share. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. Sell-side analysts expect that Perrigo Company plc will post 2.58 EPS for the current year.

Perrigo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Friday, May 31st. Perrigo’s dividend payout ratio (DPR) is -1,571.43%.

Perrigo Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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