Mirae Asset Global Investments Co. Ltd. Purchases New Position in Perrigo Company plc (NYSE:PRGO)

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Perrigo Company plc (NYSE:PRGO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 28,813 shares of the company’s stock, valued at approximately $927,000.

Several other large investors have also added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC lifted its position in Perrigo by 4.1% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 9,627 shares of the company’s stock valued at $310,000 after acquiring an additional 380 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Perrigo by 34.5% during the 4th quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock worth $50,000 after buying an additional 399 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Perrigo by 39.5% during the 3rd quarter. Fifth Third Bancorp now owns 1,714 shares of the company’s stock worth $55,000 after buying an additional 485 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Perrigo by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 38,531 shares of the company’s stock worth $1,231,000 after buying an additional 581 shares in the last quarter. Finally, Ronald Blue Trust Inc. lifted its position in shares of Perrigo by 132.3% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,157 shares of the company’s stock worth $39,000 after buying an additional 659 shares in the last quarter. Institutional investors own 95.91% of the company’s stock.

Insider Buying and Selling

In related news, EVP Robert Willis purchased 6,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average price of $25.87 per share, with a total value of $155,220.00. Following the acquisition, the executive vice president now owns 25,105 shares of the company’s stock, valued at approximately $649,466.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Perrigo news, EVP Alison Ives acquired 2,490 shares of Perrigo stock in a transaction that occurred on Tuesday, March 5th. The stock was acquired at an average cost of $27.26 per share, for a total transaction of $67,877.40. Following the purchase, the executive vice president now owns 16,122 shares of the company’s stock, valued at $439,485.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Willis acquired 6,000 shares of Perrigo stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average price of $25.87 per share, with a total value of $155,220.00. Following the completion of the purchase, the executive vice president now directly owns 25,105 shares in the company, valued at approximately $649,466.35. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 17,990 shares of company stock valued at $475,227. 0.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PRGO has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Perrigo from $48.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Canaccord Genuity Group reissued a “buy” rating and set a $42.00 target price on shares of Perrigo in a research report on Friday, April 12th. Finally, Piper Sandler lifted their target price on shares of Perrigo from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th.

Perrigo Trading Up 1.4 %

NYSE:PRGO opened at $30.49 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $4.13 billion, a PE ratio of -304.90 and a beta of 0.64. The firm’s 50 day moving average is $30.55 and its 200 day moving average is $30.78. Perrigo Company plc has a 12 month low of $25.77 and a 12 month high of $40.28.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Perrigo had a negative net margin of 0.27% and a positive return on equity of 7.34%. Perrigo’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 EPS. Sell-side analysts expect that Perrigo Company plc will post 2.55 earnings per share for the current year.

Perrigo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Friday, March 8th were issued a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Thursday, March 7th. This is a boost from Perrigo’s previous quarterly dividend of $0.27. Perrigo’s payout ratio is -1,100.00%.

Perrigo Profile

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.