Martingale Asset Management L P Boosts Stake in Perrigo Company plc (NYSE:PRGO)

Martingale Asset Management L P lifted its holdings in Perrigo Company plc (NYSE:PRGOGet Rating) by 11.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,670 shares of the company’s stock after purchasing an additional 664 shares during the quarter. Martingale Asset Management L P’s holdings in Perrigo were worth $271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. CIBC Private Wealth Group LLC purchased a new position in shares of Perrigo in the second quarter worth $32,000. Washington Trust Advisors Inc. bought a new stake in shares of Perrigo in the second quarter worth $39,000. Venture Visionary Partners LLC bought a new stake in shares of Perrigo in the second quarter worth $41,000. Covestor Ltd grew its holdings in shares of Perrigo by 5,903.6% in the first quarter. Covestor Ltd now owns 1,681 shares of the company’s stock worth $65,000 after acquiring an additional 1,653 shares during the period. Finally, Gladius Capital Management LP bought a new stake in shares of Perrigo in the second quarter worth $74,000. Hedge funds and other institutional investors own 96.41% of the company’s stock.

Analyst Ratings Changes

PRGO has been the subject of several research analyst reports. StockNews.com initiated coverage on Perrigo in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Raymond James cut their price objective on Perrigo from $48.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, November 9th. Wells Fargo & Company raised Perrigo from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $48.00 to $54.00 in a report on Tuesday, September 6th. Finally, Argus raised Perrigo from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Wednesday, September 14th.

Perrigo Trading Up 0.9 %

NYSE:PRGO opened at $32.52 on Thursday. The stock has a 50-day simple moving average of $37.41 and a two-hundred day simple moving average of $38.93. Perrigo Company plc has a 52-week low of $31.32 and a 52-week high of $43.90. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.55 and a quick ratio of 1.48.

Perrigo (NYSE:PRGOGet Rating) last released 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 $0.68 by ($0.12). The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.14 billion. Perrigo had a negative net margin of 1.93% and a positive return on equity of 5.31%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 EPS. On average, sell-side analysts forecast that Perrigo Company plc will post 2.02 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 20th. Stockholders of record on Friday, December 2nd will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Thursday, December 1st. Perrigo’s dividend payout ratio (DPR) is -165.08%.

Perrigo Profile

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Perrigo Company plc provides over-the-counter (OTC) health and wellness solutions that enhance individual well-being by empowering consumers to prevent or treat conditions that can be self-managed. The company operates through two segments, Consumer Self-Care Americas and Consumer Self-Care International.

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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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