Geode Capital Management LLC Buys 106,356 Shares of Perrigo Company plc (NYSE:PRGO)

Geode Capital Management LLC increased its stake in shares of Perrigo Company plc (NYSE:PRGO) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,359,072 shares of the company’s stock after purchasing an additional 106,356 shares during the quarter. Geode Capital Management LLC owned 1.73% of Perrigo worth $61,894,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its position in Perrigo by 31.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,968 shares of the company’s stock worth $384,000 after purchasing an additional 3,619 shares during the period. Raymond James & Associates raised its holdings in shares of Perrigo by 5.9% in the second quarter. Raymond James & Associates now owns 86,380 shares of the company’s stock worth $2,218,000 after buying an additional 4,849 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Perrigo by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 1,085,657 shares of the company’s stock worth $27,880,000 after buying an additional 9,219 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Perrigo by 3.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 655,974 shares of the company’s stock valued at $16,845,000 after acquiring an additional 23,835 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Perrigo by 3.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,083 shares of the company’s stock valued at $747,000 after acquiring an additional 923 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group reiterated 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. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $42.00 target price on shares of Perrigo in a research note on Monday, September 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Insider Activity

In other news, Director Jeffrey B. Kindler sold 17,598 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were 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 approximately $152,912.43. This trade represents a 76.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.

Perrigo Stock Performance

Shares of Perrigo stock opened at $25.75 on Friday. Perrigo Company plc has a 12 month low of $23.89 and a 12 month high of $34.60. The stock’s fifty day moving average price is $26.69 and its 200-day moving average price is $26.92. The firm has a market cap of $3.51 billion, a P/E ratio of -22.01 and a beta of 0.52. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94.

Perrigo (NYSE:PRGO) last posted its earnings results on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, meeting analysts’ consensus estimates of $0.81. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the firm posted $0.64 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities research analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th were given a dividend of $0.276 per share. The ex-dividend date was Friday, November 29th. This represents a $1.10 annualized dividend and a yield of 4.29%. Perrigo’s dividend payout ratio (DPR) is presently -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.