Nuveen LLC Buys Shares of 258,751 Perrigo Company plc $PRGO

Nuveen LLC purchased a new stake in Perrigo Company plc (NYSE:PRGO) during the first quarter, according to its most recent filing with the SEC. The firm purchased 258,751 shares of the company’s stock, valued at approximately $7,255,000. Nuveen LLC owned 0.19% of Perrigo at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PRGO. Picton Mahoney Asset Management acquired a new stake in shares of Perrigo in the 1st quarter valued at approximately $42,000. Parallel Advisors LLC raised its position in shares of Perrigo by 176.9% in the 1st quarter. Parallel Advisors LLC now owns 1,714 shares of the company’s stock valued at $48,000 after acquiring an additional 1,095 shares during the period. First Horizon Advisors Inc. raised its position in shares of Perrigo by 138.3% in the 1st quarter. First Horizon Advisors Inc. now owns 1,754 shares of the company’s stock valued at $49,000 after acquiring an additional 1,018 shares during the period. Fifth Third Bancorp raised its position in shares of Perrigo by 62.0% in the 1st quarter. Fifth Third Bancorp now owns 2,218 shares of the company’s stock valued at $62,000 after acquiring an additional 849 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Perrigo by 110.4% in the 1st quarter. Blue Trust Inc. now owns 2,619 shares of the company’s stock valued at $73,000 after acquiring an additional 1,374 shares during the period. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Perrigo

In other Perrigo news, Director Geoffrey M. Parker purchased 4,375 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was bought at an average cost of $22.97 per share, with a total value of $100,493.75. Following the purchase, the director directly owned 33,287 shares of the company’s stock, valued at $764,602.39. The trade was a 15.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert Willis purchased 1,488 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were acquired at an average cost of $24.10 per share, with a total value of $35,860.80. Following the completion of the purchase, the executive vice president directly owned 41,939 shares in the company, valued at approximately $1,010,729.90. This represents a 3.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 8,863 shares of company stock valued at $204,575 in the last ninety days. 0.40% of the stock is currently owned by corporate insiders.

Perrigo Price Performance

Shares of PRGO opened at $24.4940 on Monday. The stock has a market capitalization of $3.37 billion, a P/E ratio of -42.23 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 company has a 50 day moving average of $26.08 and a 200-day moving average of $26.24. The company has a quick ratio of 1.24, a current ratio of 2.32 and a debt-to-equity ratio of 0.81.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.02). The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.08 billion. Perrigo had a positive return on equity of 9.09% and a negative net margin of 1.86%.Perrigo’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. As a group, equities research analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, August 29th. Perrigo’s dividend payout ratio (DPR) is currently -200.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PRGO. JPMorgan Chase & Co. cut their price target on shares of Perrigo from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Canaccord Genuity Group dropped their target price on shares of Perrigo from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Perrigo presently has a consensus rating of “Hold” and an average target price of $33.00.

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.