Perrigo Company plc $PRGO Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. cut its holdings in Perrigo Company plc (NYSE:PRGO) by 55.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,163 shares of the company’s stock after selling 15,170 shares during the period. Advisors Asset Management Inc.’s holdings in Perrigo were worth $341,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PRGO. Price T Rowe Associates Inc. MD raised its stake in Perrigo by 41.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,073,026 shares of the company’s stock valued at $310,488,000 after buying an additional 3,227,487 shares in the last quarter. Bahl & Gaynor Inc. raised its stake in Perrigo by 40.7% in the first quarter. Bahl & Gaynor Inc. now owns 2,146,352 shares of the company’s stock valued at $60,184,000 after buying an additional 621,155 shares in the last quarter. Sound Shore Management Inc. CT raised its stake in Perrigo by 23.1% in the first quarter. Sound Shore Management Inc. CT now owns 3,285,167 shares of the company’s stock valued at $92,116,000 after buying an additional 616,387 shares in the last quarter. Vestal Point Capital LP acquired a new stake in Perrigo in the fourth quarter valued at $9,641,000. Finally, Nuveen LLC acquired a new stake in Perrigo in the first quarter valued at $7,255,000. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Perrigo news, EVP Abigail Lennox acquired 1,255 shares of the stock in a transaction on Monday, September 8th. The shares were bought at an average price of $22.41 per share, with a total value of $28,124.55. Following the acquisition, the executive vice president owned 1,255 shares of the company’s stock, valued at $28,124.55. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Eduardo Guarita Bezerra acquired 3,000 shares of the stock in a transaction on Monday, August 18th. The stock was acquired at an average cost of $22.74 per share, for a total transaction of $68,220.00. Following the acquisition, the chief financial officer directly owned 48,949 shares in the company, valued at $1,113,100.26. This represents a 6.53% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 10,118 shares of company stock worth $232,699 over the last quarter. 0.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PRGO has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on Perrigo from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Wall Street Zen raised Perrigo from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Finally, Canaccord Genuity Group dropped their price objective on 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $33.00.

Perrigo Stock Performance

NYSE PRGO opened at $22.52 on Friday. 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 Company plc has a 52-week low of $21.03 and a 52-week high of $30.93. The business’s 50-day moving average price is $25.10 and its 200 day moving average price is $26.07. The firm has a market cap of $3.10 billion, a P/E ratio of -38.82 and a beta of 0.48.

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 analysts’ consensus estimates of $0.59 by ($0.02). Perrigo had a positive return on equity of 9.09% and a negative net margin of 1.86%.The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the business earned $0.53 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. On average, equities research analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 29th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Friday, August 29th. Perrigo’s payout ratio is currently -200.00%.

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.