Perrigo Company plc $PRGO Shares Bought by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC grew its holdings in Perrigo Company plc (NYSE:PRGO) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,000 shares of the company’s stock after purchasing an additional 800 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Perrigo were worth $321,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its holdings in shares of Perrigo by 41.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,073,026 shares of the company’s stock valued at $310,488,000 after purchasing an additional 3,227,487 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Perrigo by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,135,741 shares of the company’s stock worth $200,085,000 after acquiring an additional 146,211 shares during the last quarter. Sound Shore Management Inc. CT raised its holdings in shares of Perrigo by 23.1% during the 1st quarter. Sound Shore Management Inc. CT now owns 3,285,167 shares of the company’s stock worth $92,116,000 after acquiring an additional 616,387 shares during the period. Ion Asset Management Ltd. boosted its position in shares of Perrigo by 0.5% during the 1st quarter. Ion Asset Management Ltd. now owns 2,833,894 shares of the company’s stock valued at $79,462,000 after acquiring an additional 13,894 shares during the last quarter. Finally, Copeland Capital Management LLC grew its holdings in shares of Perrigo by 2.6% in the first quarter. Copeland Capital Management LLC now owns 2,452,786 shares of the company’s stock valued at $68,776,000 after purchasing an additional 63,022 shares during the period. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Perrigo Stock Performance

Shares of PRGO stock opened at $21.11 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 2.32. The firm has a market cap of $2.90 billion, a P/E ratio of -36.39 and a beta of 0.48. The firm’s 50 day moving average price is $24.17 and its 200-day moving average price is $25.72. Perrigo Company plc has a one year low of $20.51 and a one year high of $30.93.

Perrigo (NYSE:PRGO) last announced its earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities research analysts predict that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 29th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Friday, August 29th. Perrigo’s dividend payout ratio (DPR) is -200.00%.

Insider Transactions at Perrigo

In other Perrigo news, EVP Abigail Lennox acquired 1,255 shares of the stock in a transaction dated Monday, September 8th. The stock was acquired at an average price of $22.41 per share, with a total value of $28,124.55. Following the completion of the purchase, the executive vice president owned 1,255 shares in the company, valued at $28,124.55. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Eduardo Guarita Bezerra acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average price of $22.74 per share, with a total value of $68,220.00. Following the acquisition, the chief financial officer directly owned 48,949 shares of the company’s stock, valued at approximately $1,113,100.26. This represents a 6.53% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 10,118 shares of company stock valued at $232,699. 0.40% of the stock is owned by insiders.

Analyst Ratings Changes

PRGO has been the topic of a number of analyst reports. Canaccord Genuity Group reduced their target price on shares of Perrigo from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. JPMorgan Chase & Co. reduced their price target on shares of Perrigo from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Finally, Wall Street Zen lowered Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.00.

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.