Guggenheim Capital LLC Increases Stock Position in Perrigo Company plc (NYSE:PRGO)

Guggenheim Capital LLC raised its stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 50.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,844 shares of the company's stock after purchasing an additional 15,648 shares during the period. Guggenheim Capital LLC's holdings in Perrigo were worth $1,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Headlands Technologies LLC lifted its stake in Perrigo by 1,942.0% in the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock worth $36,000 after purchasing an additional 1,340 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of Perrigo during the 4th quarter worth approximately $45,000. GAMMA Investing LLC boosted its holdings in Perrigo by 93.7% during the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock valued at $49,000 after acquiring an additional 929 shares during the period. Central Pacific Bank Trust Division grew its position in Perrigo by 33.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company's stock valued at $51,000 after acquiring an additional 500 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Perrigo by 97.8% in the fourth quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company's stock worth $108,000 after purchasing an additional 2,084 shares during the period. Hedge funds and other institutional investors own 95.91% of the company's stock.

Insider Activity

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 transaction of $214,032.00. Following the completion of the transaction, the executive vice president now directly owns 33,666 shares in the company, valued at $923,795.04. The trade was a 18.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

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

Perrigo Stock Up 1.5 %

Shares of NYSE PRGO traded up $0.37 during mid-day trading on Friday, reaching $25.26. 1,145,059 shares of the company were exchanged, compared to its average volume of 1,522,893. Perrigo Company plc has a 1 year low of $23.14 and a 1 year high of $33.46. The firm has a 50-day moving average of $26.50 and a 200 day moving average of $26.04. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -21.59 and a beta of 0.49. 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 - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. On average, research analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were paid a dividend of $0.29 per share. This is an increase from Perrigo's previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend was Friday, March 7th. 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.