Quadrature Capital Ltd Acquires New Position in Perrigo Company plc (NYSE:PRGO)

Quadrature Capital Ltd acquired a new stake in Perrigo Company plc (NYSE:PRGO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,730 shares of the company’s stock, valued at approximately $313,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRGO. GAMMA Investing LLC purchased a new position in shares of Perrigo in the 4th quarter valued at approximately $30,000. Parkside Financial Bank & Trust raised its position in Perrigo by 1,694.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company’s stock worth $34,000 after buying an additional 983 shares during the last quarter. Hexagon Capital Partners LLC purchased a new position in Perrigo during the 4th quarter worth approximately $37,000. Blue Trust Inc. raised its position in Perrigo by 34.5% during the 4th quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock worth $50,000 after buying an additional 399 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Perrigo by 69.1% during the 4th quarter. Parallel Advisors LLC now owns 2,009 shares of the company’s stock worth $65,000 after buying an additional 821 shares during the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Perrigo

In related news, EVP Svend Andersen purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were purchased at an average price of $27.90 per share, with a total value of $27,900.00. Following the purchase, the executive vice president now owns 101,853 shares of the company’s stock, valued at $2,841,698.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.40% of the stock is owned by corporate insiders.

Perrigo Price Performance

Shares of NYSE PRGO opened at $25.60 on Wednesday. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of -365.71 and a beta of 0.56. Perrigo Company plc has a 12 month low of $25.35 and a 12 month high of $40.28. The firm’s 50 day simple moving average is $29.06 and its 200-day simple moving average is $30.57. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.81 and a quick ratio of 1.08.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Saturday, May 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. Perrigo had a negative net margin of 0.17% and a positive return on equity of 6.96%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the company earned $0.45 EPS. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. Analysts expect that Perrigo Company plc will post 2.58 EPS for the current year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Friday, May 31st were paid a $0.276 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.10 dividend on an annualized basis and a yield of 4.31%. Perrigo’s dividend payout ratio is currently -1,571.43%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PRGO. Canaccord Genuity Group reissued a “buy” rating and set a $42.00 price target on shares of Perrigo in a research report on Friday, April 12th. Piper Sandler dropped their price objective on shares of Perrigo from $39.00 to $36.00 and set an “overweight” rating on the stock in a research note on Thursday, June 13th. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Wednesday, May 29th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Perrigo from $48.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th.

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.