Systematic Financial Management LP Purchases 116,832 Shares of Perrigo Company plc (NYSE:PRGO)

Systematic Financial Management LP grew its stake in Perrigo Company plc (NYSE:PRGO - Free Report) by 10.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,252,653 shares of the company's stock after acquiring an additional 116,832 shares during the quarter. Systematic Financial Management LP owned about 0.92% of Perrigo worth $32,857,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PRGO. Venturi Wealth Management LLC acquired a new stake in Perrigo during the third quarter worth approximately $56,000. KBC Group NV lifted its position in Perrigo by 25.1% during the third quarter. KBC Group NV now owns 4,517 shares of the company's stock worth $118,000 after buying an additional 905 shares during the period. Voisard Asset Management Group Inc. boosted its stake in Perrigo by 520.0% in the 2nd quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company's stock worth $119,000 after buying an additional 3,900 shares during the last quarter. Atria Investments Inc acquired a new position in shares of Perrigo during the 3rd quarter valued at about $208,000. Finally, CWM LLC boosted its holdings in shares of Perrigo by 877.0% in the 2nd quarter. CWM LLC now owns 8,197 shares of the company's stock valued at $210,000 after purchasing an additional 7,358 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company's stock.

Perrigo Stock Performance

Shares of NYSE PRGO traded down $0.41 during midday trading on Thursday, hitting $28.50. The company's stock had a trading volume of 690,154 shares, compared to its average volume of 1,609,780. The firm has a market cap of $3.89 billion, a P/E ratio of -24.71 and a beta of 0.52. The firm's fifty day moving average price is $26.19 and its 200-day moving average price is $27.00. Perrigo Company plc has a 1-year low of $23.89 and a 1-year high of $34.60. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56.

Perrigo (NYSE:PRGO - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.81. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The business's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS. On average, sell-side analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be given a $0.276 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend is Friday, November 29th. Perrigo's dividend payout ratio (DPR) is currently -94.02%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PRGO shares. Jefferies Financial Group restated a "hold" rating and set a $30.00 price objective (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. StockNews.com raised shares of Perrigo from a "hold" rating to a "buy" rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $42.00 target price on shares of Perrigo in a research note on Monday, September 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Perrigo has an average rating of "Moderate Buy" and an average price target of $37.00.

Insider Activity

In other news, Director Katherine C. Doyle sold 8,954 shares of the firm's stock in a transaction dated 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 sale, the director now directly owns 6,009 shares of the company's stock, valued at $164,045.70. This trade represents a 59.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.70% of the company's stock.

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.