Envestnet Asset Management Inc. Purchases 102,375 Shares of Perrigo Company plc (NYSE:PRGO)

Envestnet Asset Management Inc. lifted its position in Perrigo Company plc (NYSE:PRGO) by 26.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 484,805 shares of the company’s stock after purchasing an additional 102,375 shares during the quarter. Envestnet Asset Management Inc. owned 0.36% of Perrigo worth $13,594,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue grew its holdings in shares of Perrigo by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 15,984 shares of the company’s stock worth $448,000 after purchasing an additional 430 shares during the last quarter. Cedar Wealth Management LLC grew its holdings in shares of Perrigo by 2.1% in the 4th quarter. Cedar Wealth Management LLC now owns 21,966 shares of the company’s stock worth $565,000 after purchasing an additional 450 shares during the last quarter. Fox Run Management L.L.C. grew its holdings in shares of Perrigo by 5.1% in the 4th quarter. Fox Run Management L.L.C. now owns 11,381 shares of the company’s stock worth $293,000 after purchasing an additional 548 shares during the last quarter. Snowden Capital Advisors LLC grew its holdings in shares of Perrigo by 3.6% in the 4th quarter. Snowden Capital Advisors LLC now owns 24,337 shares of the company’s stock worth $626,000 after purchasing an additional 842 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in Perrigo by 62.0% during the 1st quarter. Fifth Third Bancorp now owns 2,218 shares of the company’s stock worth $62,000 after acquiring an additional 849 shares during the last quarter. Institutional investors own 95.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Perrigo from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $33.00.

Perrigo Stock Down 0.7%

Shares of NYSE PRGO opened at $26.95 on Friday. The firm has a market capitalization of $3.71 billion, a PE ratio of -20.57 and a beta of 0.45. The company has a current ratio of 2.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82. Perrigo Company plc has a 1 year low of $23.14 and a 1 year high of $30.93. The firm’s 50-day moving average is $26.82 and its 200-day moving average is $26.13.

Perrigo (NYSE:PRGO) last issued its earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.09 billion. Perrigo had a negative net margin of 4.16% and a positive return on equity of 8.93%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS. Equities analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Friday, May 30th were given a $0.29 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.30%. Perrigo’s dividend payout ratio is -88.55%.

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.