Fmr LLC Purchases 1,837,538 Shares of Perrigo Company plc (NYSE:PRGO)

Fmr LLC lifted its position in shares of Perrigo Company plc (NYSE:PRGO) by 66,795.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,840,289 shares of the company’s stock after purchasing an additional 1,837,538 shares during the quarter. Fmr LLC owned about 1.35% of Perrigo worth $48,271,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC increased its stake in shares of Perrigo by 877.0% during the second quarter. CWM LLC now owns 8,197 shares of the company’s stock valued at $210,000 after purchasing an additional 7,358 shares in the last quarter. Voisard Asset Management Group Inc. increased its position in Perrigo by 520.0% during the 2nd quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock valued at $119,000 after buying an additional 3,900 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Perrigo by 31.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,968 shares of the company’s stock worth $384,000 after acquiring an additional 3,619 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Perrigo in the second quarter worth $840,000. Finally, Raymond James & Associates increased its holdings in shares of Perrigo by 5.9% during the second quarter. Raymond James & Associates now owns 86,380 shares of the company’s stock valued at $2,218,000 after acquiring an additional 4,849 shares in the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Perrigo Stock Performance

Shares of PRGO stock opened at $28.07 on Friday. The firm has a market capitalization of $3.83 billion, a PE ratio of -23.99 and a beta of 0.52. The company has a 50 day moving average price of $26.30 and a 200-day moving average price of $26.99. Perrigo Company plc has a 52 week low of $23.89 and a 52 week high of $34.60. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the firm earned $0.64 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. As a group, equities research analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be given a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Friday, November 29th. Perrigo’s payout ratio is currently -94.02%.

Wall Street Analyst Weigh In

Several analysts recently commented on PRGO shares. Canaccord Genuity Group reissued a “buy” rating and set a $42.00 price objective on shares of Perrigo in a research report on Monday, September 30th. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $30.00 price objective (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.00.

Insider Transactions at Perrigo

In related news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the transaction, the director now directly owns 6,009 shares of the company’s stock, valued at approximately $164,045.70. This trade represents a 59.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

Perrigo Company 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.