Marshall Wace LLP Buys New Stake in Perrigo Company plc (NYSE:PRGO)

Marshall Wace LLP purchased a new stake in Perrigo Company plc (NYSE:PRGO) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 14,200 shares of the company’s stock, valued at approximately $365,000.

Several other hedge funds also recently added to or reduced their stakes in PRGO. Vanguard Group Inc. grew its position in shares of Perrigo by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 14,994,309 shares of the company’s stock worth $482,517,000 after acquiring an additional 91,322 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Perrigo by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,162,656 shares of the company’s stock valued at $183,935,000 after buying an additional 249,640 shares in the last quarter. Cooke & Bieler LP increased its stake in Perrigo by 0.9% during the 2nd quarter. Cooke & Bieler LP now owns 3,501,401 shares of the company’s stock valued at $89,916,000 after buying an additional 30,150 shares during the period. DAVENPORT & Co LLC raised its position in shares of Perrigo by 10.1% during the 1st quarter. DAVENPORT & Co LLC now owns 3,449,352 shares of the company’s stock worth $111,035,000 after buying an additional 317,552 shares in the last quarter. Finally, Perpetual Ltd increased its stake in shares of Perrigo by 20.5% during the first quarter. Perpetual Ltd now owns 2,780,984 shares of the company’s stock valued at $87,490,000 after acquiring an additional 472,245 shares during the period. 95.91% of the stock is owned by hedge funds and other institutional investors.

Perrigo Stock Performance

PRGO stock opened at $24.26 on Friday. The firm has a 50 day simple moving average of $27.21 and a 200 day simple moving average of $28.31. Perrigo Company plc has a 52 week low of $23.89 and a 52 week high of $34.60. The stock has a market cap of $3.31 billion, a P/E ratio of -346.50 and a beta of 0.48. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.99.

Perrigo (NYSE:PRGO) last issued its earnings results on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the business posted $0.63 EPS. The company’s revenue for the quarter was down 10.7% on a year-over-year basis. Research analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were given a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend was Friday, August 30th. Perrigo’s payout ratio is presently -1,571.43%.

Insiders Place Their Bets

In other news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $27.30, for a total transaction of $244,444.20. Following the transaction, the director now owns 6,009 shares in the company, valued at approximately $164,045.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Perrigo news, EVP Svend Andersen sold 28,300 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total transaction of $785,325.00. Following the transaction, the executive vice president now owns 73,553 shares in the company, valued at $2,041,095.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Katherine C. Doyle sold 8,954 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction of $244,444.20. Following the completion of the sale, the director now owns 6,009 shares of the company’s stock, valued at $164,045.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,254 shares of company stock valued at $1,411,969 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $42.00 price target on shares of Perrigo in a research note on Monday, September 30th. StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Piper Sandler cut their price objective on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 target price (down from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.00.

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.