Algert Global LLC Makes New $351,000 Investment in Perrigo Company plc (NYSE:PRGO)

Algert Global LLC bought a new stake in shares of Perrigo Company plc (NYSE:PRGO) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 13,654 shares of the company’s stock, valued at approximately $351,000.

Other hedge funds have also made changes to their positions in the company. Clearline Capital LP boosted its stake in Perrigo by 17.0% during the 2nd quarter. Clearline Capital LP now owns 1,830,419 shares of the company’s stock valued at $47,005,000 after acquiring an additional 265,960 shares during the last quarter. Scientech Research LLC bought a new position in shares of Perrigo during the second quarter worth about $629,000. Maverick Capital Ltd. acquired a new position in Perrigo in the second quarter worth about $1,207,000. Dark Forest Capital Management LP increased its holdings in Perrigo by 101.1% in the second quarter. Dark Forest Capital Management LP now owns 14,799 shares of the company’s stock valued at $380,000 after buying an additional 7,439 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its stake in Perrigo by 11.2% during the second quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company’s stock valued at $99,701,000 after buying an additional 391,646 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Price Performance

Shares of PRGO opened at $24.46 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.99 and a quick ratio of 1.24. The company has a market cap of $3.34 billion, a P/E ratio of -349.43 and a beta of 0.48. Perrigo Company plc has a 12 month low of $24.13 and a 12 month high of $34.60. The stock has a fifty day moving average price of $27.37 and a 200 day moving average price of $28.37.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.13 billion. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The company’s quarterly revenue was down 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. On average, research analysts forecast 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 was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were issued a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date was Friday, August 30th. Perrigo’s dividend payout ratio (DPR) is -1,571.43%.

Wall Street Analyst Weigh In

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

Insider Activity at Perrigo

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

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.