Perrigo Company plc (NYSE:PRGO) Shares Sold by Arizona State Retirement System

Arizona State Retirement System lowered its stake in shares of Perrigo Company plc (NYSE:PRGO) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,161 shares of the company’s stock after selling 429 shares during the quarter. Arizona State Retirement System’s holdings in Perrigo were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. boosted its stake in Perrigo by 0.3% in the first quarter. Principal Financial Group Inc. now owns 313,849 shares of the company’s stock valued at $8,800,000 after acquiring an additional 914 shares in the last quarter. D.A. Davidson & CO. purchased a new position in Perrigo in the first quarter valued at about $1,619,000. GAMMA Investing LLC increased its holdings in Perrigo by 91.9% in the first quarter. GAMMA Investing LLC now owns 3,685 shares of the company’s stock valued at $103,000 after buying an additional 1,765 shares in the last quarter. Beach Investment Counsel Inc. PA purchased a new position in shares of Perrigo during the 1st quarter worth approximately $1,526,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Perrigo by 4.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,142,407 shares of the company’s stock valued at $31,645,000 after buying an additional 50,009 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Perrigo Price Performance

Shares of NYSE:PRGO opened at $26.95 on Friday. The company has a quick ratio of 1.28, a current ratio of 2.36 and a debt-to-equity ratio of 0.82. Perrigo Company plc has a fifty-two week low of $23.14 and a fifty-two week high of $30.93. The firm has a 50-day simple moving average of $26.82 and a 200 day simple moving average of $26.13. The company has a market cap of $3.71 billion, a PE ratio of -20.57 and a beta of 0.45.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Perrigo had a negative net margin of 4.16% and a positive return on equity of 8.93%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the business posted $0.29 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Friday, May 30th were given a $0.29 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a yield of 4.30%. Perrigo’s 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.