Fmr LLC Purchases 1,837,538 Shares of Perrigo Company plc (NYSE:PRGO)

Fmr LLC increased its position in shares of Perrigo Company plc (NYSE:PRGO) by 66,795.3% during the 3rd quarter, Holdings Channel reports. The firm owned 1,840,289 shares of the company’s stock after acquiring an additional 1,837,538 shares during the period. Fmr LLC’s holdings in Perrigo were worth $48,271,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Venturi Wealth Management LLC bought a new position in shares of Perrigo in the third quarter worth about $56,000. KBC Group NV raised its position 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. lifted 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 in the last quarter. Atria Investments Inc bought a new position in shares of Perrigo during the third quarter worth $208,000. Finally, CWM LLC grew its stake in Perrigo by 877.0% during the second quarter. CWM LLC now owns 8,197 shares of the company’s stock valued at $210,000 after acquiring an additional 7,358 shares in the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Insider Transactions at Perrigo

In related news, Director Katherine C. Doyle sold 8,954 shares of the company’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 transaction, the director now directly owns 6,009 shares of the company’s stock, valued at $164,045.70. This represents a 59.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PRGO. Jefferies Financial Group reissued a “hold” rating and set a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $42.00 price objective on shares of Perrigo in a report on Monday, September 30th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Perrigo Trading Down 1.3 %

NYSE PRGO opened at $28.07 on Friday. Perrigo Company plc has a one year low of $23.89 and a one 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. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -23.99 and a beta of 0.52. The company’s 50-day simple moving average is $26.30 and its two-hundred day simple moving average is $26.99.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 EPS 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 firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the company posted $0.64 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be issued a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Friday, November 29th. Perrigo’s dividend payout ratio is currently -94.02%.

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.