Edgestream Partners L.P. Has $3.99 Million Position in Perrigo Company plc (NYSE:PRGO)

Edgestream Partners L.P. boosted its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 95.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 155,164 shares of the company's stock after buying an additional 75,766 shares during the period. Edgestream Partners L.P. owned approximately 0.11% of Perrigo worth $3,989,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc acquired a new position in shares of Perrigo in the 4th quarter valued at $45,000. GAMMA Investing LLC lifted its stake in Perrigo by 93.7% in the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock valued at $49,000 after buying an additional 929 shares during the period. Central Pacific Bank Trust Division boosted its holdings in Perrigo by 33.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company's stock worth $51,000 after buying an additional 500 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Perrigo during the 3rd quarter worth about $56,000. Finally, KBC Group NV raised its position in shares of Perrigo by 25.1% in the 3rd quarter. KBC Group NV now owns 4,517 shares of the company's stock valued at $118,000 after acquiring an additional 905 shares during the period. 95.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Remove Ads

Perrigo Stock Performance

PRGO traded down $0.38 during trading hours on Wednesday, reaching $27.50. The company's stock had a trading volume of 1,452,948 shares, compared to its average volume of 1,446,763. 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 company's 50-day moving average is $25.34 and its 200-day moving average is $26.21. Perrigo Company plc has a 52 week low of $23.14 and a 52 week high of $33.46. The firm has a market cap of $3.75 billion, a PE ratio of -23.50 and a beta of 0.48.

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

Perrigo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.22%. This is a positive change from Perrigo's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, March 7th. Perrigo's dividend payout ratio (DPR) is currently -92.80%.

Insiders Place Their Bets

In other news, EVP Ronald Craig Janish sold 7,800 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $27.44, for a total transaction of $214,032.00. Following the completion of the sale, the executive vice president now owns 33,666 shares of the company's stock, valued at approximately $923,795.04. This represents a 18.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company's stock.

About Perrigo

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.