Vestal Point Capital LP Purchases New Position in Perrigo Company plc (NYSE:PRGO)

Vestal Point Capital LP purchased a new stake in Perrigo Company plc (NYSE:PRGO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 375,000 shares of the company’s stock, valued at approximately $9,641,000. Vestal Point Capital LP owned about 0.27% of Perrigo at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRGO. Barclays PLC raised its holdings in shares of Perrigo by 44.8% in the third quarter. Barclays PLC now owns 120,502 shares of the company’s stock valued at $3,160,000 after buying an additional 37,268 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Perrigo by 10.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 304,948 shares of the company’s stock valued at $7,840,000 after buying an additional 28,843 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Perrigo during the fourth quarter worth about $691,000. Janney Montgomery Scott LLC increased its stake in shares of Perrigo by 39.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 90,624 shares of the company’s stock worth $2,330,000 after acquiring an additional 25,472 shares during the period. Finally, Sound Income Strategies LLC increased its stake in shares of Perrigo by 28.6% during the fourth quarter. Sound Income Strategies LLC now owns 482,811 shares of the company’s stock worth $12,413,000 after acquiring an additional 107,427 shares during the period. 95.91% of the stock is owned by hedge funds and other institutional investors.

Perrigo Trading Up 2.8%

Shares of PRGO opened at $27.03 on Monday. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The firm’s 50-day moving average is $26.25 and its two-hundred day moving average is $26.15. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $30.93. The firm has a market capitalization of $3.72 billion, a P/E ratio of -23.10 and a beta of 0.45.

Perrigo (NYSE:PRGO) last issued its earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the business posted $0.29 earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, research analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Friday, May 30th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Friday, May 30th. Perrigo’s dividend payout ratio (DPR) is presently -88.55%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. 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, the company presently has a consensus rating of “Hold” and an average target price of $33.00.

Insider Buying and Selling at Perrigo

In related news, EVP Ronald Craig Janish sold 7,800 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 33,666 shares of the company’s stock, valued at approximately $923,795.04. This represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.