Perrigo Company plc (NYSE:PRGO) Holdings Trimmed by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC decreased its holdings in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,044 shares of the company's stock after selling 10,444 shares during the quarter. Orion Portfolio Solutions LLC owned approximately 0.05% of Perrigo worth $1,878,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Franklin Resources Inc. acquired a new position in shares of Perrigo during the third quarter valued at $3,717,000. Barclays PLC boosted its stake in Perrigo by 44.8% during the 3rd 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 during the period. JPMorgan Chase & Co. grew its position in Perrigo by 65.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 541,000 shares of the company's stock worth $14,190,000 after purchasing an additional 213,221 shares during the last quarter. Citigroup Inc. increased its stake in shares of Perrigo by 94.1% in the third quarter. Citigroup Inc. now owns 151,520 shares of the company's stock valued at $3,974,000 after purchasing an additional 73,457 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Perrigo during the third quarter valued at approximately $909,000. Institutional investors own 95.91% of the company's stock.

Insider Buying and Selling

In related news, EVP Ronald Craig Janish sold 7,800 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $27.44, for a total value of $214,032.00. Following the completion of the transaction, the executive vice president now owns 33,666 shares in the company, valued at $923,795.04. This trade represents a 18.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

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Analysts Set New Price Targets

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

Perrigo Price Performance

NYSE PRGO traded down $0.29 on Monday, reaching $26.02. 2,804,978 shares of the stock traded hands, compared to its average volume of 1,513,100. Perrigo Company plc has a 12 month low of $23.14 and a 12 month high of $33.46. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The firm's fifty day simple moving average is $26.43 and its 200 day simple moving average is $26.13. The company has a market cap of $3.55 billion, a price-to-earnings ratio of -22.24 and a beta of 0.49.

Perrigo (NYSE:PRGO - Get Free Report) last released 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 positive return on equity of 7.38% and a negative net margin of 3.64%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. As a group, research analysts predict that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Perrigo's previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 4.46%. Perrigo's dividend payout ratio is currently -92.80%.

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.