Dynamic Technology Lab Private Ltd Acquires Shares of 22,290 Perrigo Company plc (NYSE:PRGO)

Dynamic Technology Lab Private Ltd acquired a new position in Perrigo Company plc (NYSE:PRGO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 22,290 shares of the company's stock, valued at approximately $573,000.

Other large investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. purchased a new position in shares of Perrigo during the 3rd quarter worth $3,717,000. Barclays PLC lifted its position in Perrigo by 44.8% during the third quarter. Barclays PLC now owns 120,502 shares of the company's stock valued at $3,160,000 after purchasing an additional 37,268 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Perrigo by 65.1% during the third quarter. JPMorgan Chase & Co. now owns 541,000 shares of the company's stock valued at $14,190,000 after purchasing an additional 213,221 shares in the last quarter. Virtu Financial LLC purchased a new stake in Perrigo in the third quarter worth about $909,000. Finally, Access Investment Management LLC bought a new position in shares of Perrigo in the fourth quarter worth about $7,989,000. 95.91% of the stock is currently owned by institutional investors.

Insider Transactions at Perrigo

In related news, EVP Ronald Craig Janish sold 7,800 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $27.44, for a total value of $214,032.00. Following the sale, the executive vice president now owns 33,666 shares in the company, valued at approximately $923,795.04. The trade was a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.40% of the company's stock.

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Analysts Set New Price Targets

PRGO has been the subject of a number of recent research reports. Piper Sandler downgraded Perrigo from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $34.00 to $27.00 in a research note on Monday, January 6th. StockNews.com downgraded shares of Perrigo from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, Argus cut shares of Perrigo from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $33.00.

Perrigo Price Performance

Shares of Perrigo stock traded up $0.23 on Friday, hitting $24.59. 1,630,490 shares of the company traded hands, compared to its average volume of 1,529,824. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The business has a 50-day simple moving average of $26.43 and a 200 day simple moving average of $26.07. Perrigo Company plc has a 52 week low of $23.14 and a 52 week high of $33.46. The stock has a market capitalization of $3.36 billion, a P/E ratio of -21.02 and a beta of 0.49.

Perrigo (NYSE:PRGO - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.92 by $0.01. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. Research analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were paid a $0.29 dividend. This is an increase from Perrigo's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.16 dividend on an annualized basis and a yield of 4.72%. Perrigo's payout ratio is presently -92.80%.

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.