Perrigo Company plc (NYSE:PRGO) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC increased its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 5,281.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,327 shares of the company’s stock after purchasing an additional 101,407 shares during the quarter. GAMMA Investing LLC’s holdings in Perrigo were worth $2,897,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRGO. Price T Rowe Associates Inc. MD boosted its holdings in Perrigo by 6,828.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,845,539 shares of the company’s stock valued at $201,710,000 after acquiring an additional 7,732,309 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Perrigo by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,989,530 shares of the company’s stock valued at $179,698,000 after acquiring an additional 27,835 shares during the period. Deprince Race & Zollo Inc. boosted its holdings in Perrigo by 1.1% during the 4th quarter. Deprince Race & Zollo Inc. now owns 4,557,844 shares of the company’s stock valued at $117,182,000 after acquiring an additional 50,728 shares during the period. Cooke & Bieler LP boosted its holdings in Perrigo by 4.1% during the 4th quarter. Cooke & Bieler LP now owns 3,573,651 shares of the company’s stock valued at $91,879,000 after acquiring an additional 139,650 shares during the period. Finally, Ion Asset Management Ltd. boosted its holdings in Perrigo by 50.1% during the 4th quarter. Ion Asset Management Ltd. now owns 2,820,000 shares of the company’s stock valued at $72,502,000 after acquiring an additional 941,667 shares during the period. 95.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Perrigo from a “hold” rating to a “buy” rating in a research note on Saturday, May 24th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $33.00.

Perrigo Price Performance

PRGO stock opened at $27.22 on Friday. The business has a 50 day moving average price of $25.98 and a 200 day moving average price of $26.16. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -23.26 and a beta of 0.46. Perrigo Company plc has a fifty-two week low of $23.14 and a fifty-two week high of $30.93. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94.

Perrigo (NYSE:PRGO) last posted its earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 earnings per share. Equities research analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Friday, May 30th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Friday, May 30th. Perrigo’s payout ratio is -88.55%.

About Perrigo

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.