Edgestream Partners L.P. Buys New Shares in Perrigo Company plc (NYSE:PRGO)

Edgestream Partners L.P. purchased a new position in shares of Perrigo Company plc (NYSE:PRGO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 79,398 shares of the company’s stock, valued at approximately $2,083,000.

Several other institutional investors have also recently modified their holdings of PRGO. Venturi Wealth Management LLC bought a new position in shares of Perrigo during the 3rd quarter valued at $56,000. KBC Group NV grew its stake in shares of Perrigo by 25.1% during the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after buying an additional 905 shares during the last quarter. Voisard Asset Management Group Inc. increased its holdings in shares of Perrigo by 520.0% in the second 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 period. Atria Investments Inc bought a new stake in shares of Perrigo in the 3rd quarter valued at about $208,000. Finally, CWM LLC boosted its holdings 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 acquiring an additional 7,358 shares during the period. 95.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PRGO has been the subject of several recent research reports. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group reissued a “hold” rating and set a $30.00 price target (down previously from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a research report on Monday, September 30th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Perrigo Price Performance

PRGO stock opened at $28.50 on Tuesday. The firm has a 50-day moving average of $26.06 and a 200 day moving average of $27.01. 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 company has a market cap of $3.89 billion, a P/E ratio of -24.36 and a beta of 0.48. Perrigo Company plc has a 1 year low of $23.89 and a 1 year high of $34.60.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results 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 company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, sell-side analysts forecast that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The business also recently declared 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 is Friday, November 29th. Perrigo’s dividend payout ratio is presently -94.02%.

Insider Buying and Selling

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of Perrigo stock in a transaction dated Friday, September 13th. The shares were 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 of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is currently owned by company insiders.

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.