State of Michigan Retirement System Acquires 700 Shares of Perrigo Company plc (NYSE:PRGO)

State of Michigan Retirement System increased its holdings in shares of Perrigo Company plc (NYSE:PRGOFree Report) by 2.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 33,258 shares of the company’s stock after purchasing an additional 700 shares during the period. State of Michigan Retirement System’s holdings in Perrigo were worth $1,071,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRGO. Park Avenue Securities LLC grew its position in shares of Perrigo by 4.3% in the first quarter. Park Avenue Securities LLC now owns 11,330 shares of the company’s stock valued at $365,000 after purchasing an additional 465 shares during the last quarter. Ridgewood Investments LLC grew its position in shares of Perrigo by 1.3% in the first quarter. Ridgewood Investments LLC now owns 35,140 shares of the company’s stock valued at $1,131,000 after purchasing an additional 451 shares during the last quarter. Perpetual Ltd grew its position in shares of Perrigo by 20.5% in the first quarter. Perpetual Ltd now owns 2,780,984 shares of the company’s stock valued at $87,490,000 after purchasing an additional 472,245 shares during the last quarter. Alaska Permanent Fund Corp grew its position in shares of Perrigo by 93.8% in the first quarter. Alaska Permanent Fund Corp now owns 28,449 shares of the company’s stock valued at $916,000 after purchasing an additional 13,769 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in shares of Perrigo by 1,578.3% in the first quarter. Los Angeles Capital Management LLC now owns 168,164 shares of the company’s stock valued at $5,413,000 after purchasing an additional 158,144 shares during the last quarter. Institutional investors own 95.91% of the company’s stock.

Insiders Place Their Bets

In other Perrigo news, EVP Svend Andersen bought 1,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was purchased at an average cost of $27.90 per share, for a total transaction of $27,900.00. Following the completion of the purchase, the executive vice president now directly owns 101,853 shares of the company’s stock, valued at $2,841,698.70. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

PRGO has been the topic of several research reports. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a research report on Wednesday, May 29th. Piper Sandler reduced their price target on Perrigo from $39.00 to $36.00 and set an “overweight” rating on the stock in a research report on Thursday, June 13th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $42.00 price target on shares of Perrigo in a research report on Friday, April 12th.

View Our Latest Analysis on Perrigo

Perrigo Trading Down 2.9 %

Shares of NYSE:PRGO opened at $25.44 on Friday. The company has a market capitalization of $3.47 billion, a P/E ratio of -363.43 and a beta of 0.51. Perrigo Company plc has a 1 year low of $24.82 and a 1 year high of $40.28. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.81 and a quick ratio of 1.08. The business’s 50 day simple moving average is $28.28 and its 200 day simple moving average is $30.36.

Perrigo (NYSE:PRGOGet Free Report) last released its earnings results on Saturday, May 4th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.06. Perrigo had a positive return on equity of 6.96% and a negative net margin of 0.17%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the company earned $0.45 earnings per share. The company’s quarterly revenue was down 8.4% on a year-over-year basis. On average, research analysts anticipate that Perrigo Company plc will post 2.58 EPS for the current fiscal year.

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Friday, May 31st were paid a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Friday, May 31st. Perrigo’s payout ratio is presently -1,571.43%.

About Perrigo

(Free Report)

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.

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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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