Wellington Management Group LLP Purchases 1,878,145 Shares of Perrigo Company plc (NYSE:PRGO)

Wellington Management Group LLP grew its position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 229.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,697,698 shares of the company's stock after acquiring an additional 1,878,145 shares during the quarter. Wellington Management Group LLP owned about 1.98% of Perrigo worth $70,761,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. CWM LLC increased its stake in Perrigo by 877.0% during 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 in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Perrigo by 31.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,968 shares of the company's stock worth $384,000 after acquiring an additional 3,619 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Perrigo in the 2nd quarter worth about $840,000. Raymond James & Associates lifted its position in Perrigo by 5.9% in the 2nd quarter. Raymond James & Associates now owns 86,380 shares of the company's stock valued at $2,218,000 after acquiring an additional 4,849 shares in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new position in Perrigo during the 2nd quarter valued at about $304,000. 95.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Katherine C. Doyle sold 8,954 shares of Perrigo stock in a transaction on Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the transaction, the director now directly owns 6,009 shares in the company, valued at approximately $164,045.70. The trade was a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.27, for a total value of $497,495.46. Following the sale, the director now directly owns 5,409 shares in the company, valued at $152,912.43. This trade represents a 76.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.70% of the company's stock.

Perrigo Stock Performance

Shares of NYSE PRGO traded down $0.29 during midday trading on Wednesday, reaching $27.30. The company's stock had a trading volume of 876,352 shares, compared to its average volume of 1,605,472. The stock has a market capitalization of $3.72 billion, a P/E ratio of -23.58 and a beta of 0.52. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The firm has a 50 day moving average price of $26.37 and a 200-day moving average price of $26.97. Perrigo Company plc has a 12-month low of $23.89 and a 12-month high of $34.60.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, hitting the consensus estimate of $0.81. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The business had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business's revenue was down 3.2% on a year-over-year basis. As a group, equities analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be issued a dividend of $0.276 per share. The ex-dividend date is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a yield of 4.04%. Perrigo's dividend payout ratio (DPR) is presently -94.02%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Canaccord Genuity Group reissued a "buy" rating and issued a $42.00 price objective on shares of Perrigo in a research note on Monday, September 30th. StockNews.com raised Perrigo from a "hold" rating to a "buy" rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group reaffirmed 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Perrigo currently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Perrigo 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.