Cambridge Investment Research Advisors Inc. Acquires New Position in Perrigo Company plc (NYSE:PRGO)

Cambridge Investment Research Advisors Inc. acquired a new stake in Perrigo Company plc (NYSE:PRGO) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 77,244 shares of the company’s stock, valued at approximately $2,771,000. Cambridge Investment Research Advisors Inc. owned 0.06% of Perrigo as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PRGO. Vanguard Group Inc. increased its holdings in Perrigo by 1.5% in the third quarter. Vanguard Group Inc. now owns 14,328,895 shares of the company’s stock valued at $510,968,000 after buying an additional 215,794 shares in the last quarter. BlackRock Inc. increased its stake in shares of Perrigo by 4.8% during the 1st quarter. BlackRock Inc. now owns 12,112,154 shares of the company’s stock worth $465,469,000 after purchasing an additional 554,915 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Perrigo by 12.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,421,604 shares of the company’s stock worth $218,913,000 after purchasing an additional 690,137 shares in the last quarter. State Street Corp increased its stake in shares of Perrigo by 4.8% during the 1st quarter. State Street Corp now owns 4,270,353 shares of the company’s stock worth $164,110,000 after purchasing an additional 193,783 shares in the last quarter. Finally, Coho Partners Ltd. increased its stake in shares of Perrigo by 2.6% during the 1st quarter. Coho Partners Ltd. now owns 3,694,210 shares of the company’s stock worth $132,511,000 after purchasing an additional 95,192 shares in the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

Insider Transactions at Perrigo

In related news, Director Geoffrey M. Parker purchased 10,000 shares of Perrigo stock in a transaction dated Tuesday, June 13th. The stock was bought at an average cost of $33.06 per share, with a total value of $330,600.00. Following the purchase, the director now owns 25,879 shares in the company, valued at approximately $855,559.74. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PRGO. JPMorgan Chase & Co. raised their price objective on shares of Perrigo from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 9th. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $48.00.

Perrigo Price Performance

Shares of NYSE:PRGO opened at $36.15 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.62 and a debt-to-equity ratio of 0.84. Perrigo Company plc has a fifty-two week low of $30.78 and a fifty-two week high of $41.44. The firm has a 50-day simple moving average of $35.76 and a 200 day simple moving average of $35.41. The company has a market cap of $4.89 billion, a PE ratio of -86.07 and a beta of 0.80.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.09. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. Perrigo had a negative net margin of 1.22% and a positive return on equity of 6.79%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.43 EPS. On average, sell-side analysts anticipate that Perrigo Company plc will post 2.6 EPS for the current year.

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.273 per share. This represents a $1.09 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Thursday, August 31st. Perrigo’s payout ratio is -259.52%.

Perrigo Profile

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in Ireland, the United States, France, Belgium, China, the United Kingdom, Germany, Switzerland, Austria, Italy, Australia, Greece, and Spain. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments.