Perrigo Company plc (NYSE:PRGO) Shares Acquired by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. boosted its holdings in Perrigo Company plc (NYSE:PRGO) by 64.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,741 shares of the company’s stock after purchasing an additional 5,769 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Perrigo were worth $413,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of Perrigo by 0.3% in the first quarter. Principal Financial Group Inc. now owns 313,849 shares of the company’s stock worth $8,800,000 after acquiring an additional 914 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Perrigo by 0.6% in the first quarter. Diamond Hill Capital Management Inc. now owns 1,894,739 shares of the company’s stock valued at $53,128,000 after acquiring an additional 11,256 shares during the last quarter. D.A. Davidson & CO. acquired a new position in Perrigo during the first quarter valued at approximately $1,619,000. GAMMA Investing LLC grew its holdings in Perrigo by 91.9% during the first quarter. GAMMA Investing LLC now owns 3,685 shares of the company’s stock valued at $103,000 after purchasing an additional 1,765 shares during the last quarter. Finally, Beach Investment Counsel Inc. PA bought a new stake in shares of Perrigo in the first quarter valued at approximately $1,526,000. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Stock Down 11.1%

NYSE:PRGO opened at $23.67 on Thursday. The company has a quick ratio of 1.28, a current ratio of 2.36 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -18.07 and a beta of 0.47. Perrigo Company plc has a twelve month low of $21.03 and a twelve month high of $30.93. The stock’s 50 day moving average price is $26.93 and its two-hundred day moving average price is $26.35.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.02). The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.08 billion. Perrigo had a negative net margin of 4.16% and a positive return on equity of 8.93%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. Equities research analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 29th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Friday, August 29th. Perrigo’s dividend payout ratio is currently -88.55%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Perrigo has an average rating of “Hold” and a consensus target price of $33.00.

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.