UBS Group AG Buys 179,003 Shares of Perrigo Company plc (NYSE:PRGO)

UBS Group AG grew its stake in Perrigo Company plc (NYSE:PRGO – Get Rating) by 1,504.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190,899 shares of the company’s stock after purchasing an additional 179,003 shares during the quarter. UBS Group AG owned approximately 0.14% of Perrigo worth $6,508,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its position in Perrigo by 70.9% during the third quarter. Rockefeller Capital Management L.P. now owns 1,282 shares of the company’s stock worth $45,000 after purchasing an additional 532 shares during the period. Ronald Blue Trust Inc. lifted its position in Perrigo by 1,364.4% during the fourth quarter. Ronald Blue Trust Inc. now owns 1,274 shares of the company’s stock worth $45,000 after purchasing an additional 1,187 shares during the period. Benjamin Edwards Inc. lifted its position in Perrigo by 122.8% during the fourth quarter. Benjamin Edwards Inc. now owns 1,435 shares of the company’s stock worth $49,000 after purchasing an additional 791 shares during the period. Eagle Bay Advisors LLC lifted its position in Perrigo by 47.7% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,898 shares of the company’s stock worth $65,000 after purchasing an additional 613 shares during the period. Finally, Covestor Ltd lifted its position in Perrigo by 5,903.6% during the first quarter. Covestor Ltd now owns 1,681 shares of the company’s stock worth $65,000 after purchasing an additional 1,653 shares during the period. 94.09% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Svend Andersen bought 2,900 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were bought at an average cost of $33.41 per share, for a total transaction of $96,889.00. Following the acquisition, the executive vice president now directly owns 68,741 shares in the company, valued at $2,296,636.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Thomas Farrington sold 3,723 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $35.57, for a total transaction of $132,427.11. Following the completion of the sale, the executive vice president now owns 2,823 shares in the company, valued at $100,414.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Svend Andersen acquired 2,900 shares of Perrigo stock in a transaction on Tuesday, May 23rd. The shares were purchased at an average cost of $33.41 per share, with a total value of $96,889.00. Following the completion of the acquisition, the executive vice president now owns 68,741 shares of the company’s stock, valued at approximately $2,296,636.81. The disclosure for this purchase can be found here. In the last three months, insiders have sold 214,869 shares of company stock worth $7,685,712. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PRGO. StockNews.com began coverage on Perrigo in a research note on Thursday, May 18th. They set a “buy” rating for the company. Raymond James boosted their target price on Perrigo from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Sunday, March 5th. Finally, Canaccord Genuity Group began coverage on Perrigo in a research note on Tuesday, March 7th. They set a “buy” rating and a $49.00 target price for the company. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $48.00.

Perrigo Stock Performance

NYSE:PRGO opened at $32.50 on Friday. The company has a market capitalization of $4.40 billion, a PE ratio of -33.85 and a beta of 0.79. The company has a 50 day simple moving average of $35.41 and a two-hundred day simple moving average of $35.01. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.43 and a current ratio of 2.52. Perrigo Company plc has a fifty-two week low of $30.78 and a fifty-two week high of $43.90.

Perrigo (NYSE:PRGO – Get Rating) last posted its quarterly earnings results on Tuesday, May 9th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Perrigo had a positive return on equity of 6.21% and a negative net margin of 2.85%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 EPS. Research analysts anticipate that Perrigo Company plc will post 2.57 earnings per share for the current year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Friday, June 2nd will be issued a dividend of $0.273 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Thursday, June 1st. Perrigo’s payout ratio is -113.54%.

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).