Perrigo Company plc (NYSE:PRGO) Stake Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Perrigo Company plc (NYSE:PRGO) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,160 shares of the company’s stock after acquiring an additional 1,982 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Perrigo were worth $906,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PRGO. Blue Trust Inc. grew its position in 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 purchasing an additional 399 shares in the last quarter. Fifth Third Bancorp increased its stake in Perrigo by 39.5% in the 3rd quarter. Fifth Third Bancorp now owns 1,714 shares of the company’s stock valued at $55,000 after buying an additional 485 shares during the period. TFC Financial Management Inc. acquired a new stake in shares of Perrigo during the 3rd quarter valued at $78,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Perrigo during the third quarter valued at $97,000. Finally, SG Americas Securities LLC bought a new stake in shares of Perrigo in the 3rd quarter valued at approximately $119,000. 95.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Perrigo from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. JPMorgan Chase & Co. decreased their price objective on shares of Perrigo from $48.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research report on Friday, April 12th.

Perrigo Trading Up 2.1 %

Shares of PRGO opened at $31.94 on Monday. 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 50 day simple moving average of $30.52 and a 200-day simple moving average of $30.80. Perrigo Company plc has a 1 year low of $25.77 and a 1 year high of $40.28. The stock has a market cap of $4.33 billion, a PE ratio of -319.40 and a beta of 0.64.

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

Perrigo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Friday, March 8th were given a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.46%. This is a positive change from Perrigo’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Thursday, March 7th. Perrigo’s dividend payout ratio (DPR) is presently -1,100.00%.

Insider Activity at Perrigo

In other Perrigo news, EVP Alison Ives purchased 2,490 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was acquired at an average cost of $27.26 per share, with a total value of $67,877.40. Following the completion of the purchase, the executive vice president now directly owns 16,122 shares in the company, valued at approximately $439,485.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Robert Willis bought 6,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were purchased at an average cost of $25.87 per share, for a total transaction 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 filing with the SEC, which is available at this link. Also, EVP Alison Ives acquired 2,490 shares of the stock in a transaction dated Tuesday, March 5th. The shares were bought at an average cost of $27.26 per share, with a total value of $67,877.40. Following the transaction, the executive vice president now directly owns 16,122 shares of the company’s stock, valued at $439,485.72. The disclosure for this purchase can be found here. Insiders have bought a total of 17,990 shares of company stock worth $475,227 over the last 90 days. Insiders own 0.70% of the company’s stock.

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.