Edgestream Partners L.P. Acquires Shares of 79,398 Perrigo Company plc (NYSE:PRGO)

Edgestream Partners L.P. bought a new position in Perrigo Company plc (NYSE:PRGO) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 79,398 shares of the company’s stock, valued at approximately $2,083,000. Edgestream Partners L.P. owned about 0.06% of Perrigo as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PRGO. Voisard Asset Management Group Inc. boosted its position in Perrigo by 9.7% in the third quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock worth $134,000 after purchasing an additional 450 shares during the last quarter. Creative Planning boosted its holdings in shares of Perrigo by 3.7% in the 3rd quarter. Creative Planning now owns 18,477 shares of the company’s stock worth $485,000 after buying an additional 661 shares during the last quarter. Arizona State Retirement System increased its holdings in Perrigo by 1.9% during the second quarter. Arizona State Retirement System now owns 37,939 shares of the company’s stock worth $974,000 after buying an additional 699 shares during the last quarter. KBC Group NV raised its position in Perrigo by 25.1% in the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after acquiring an additional 905 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Perrigo by 3.3% in the second 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. 95.91% of the stock is owned by institutional investors.

Insider Transactions at Perrigo

In other news, Director Katherine C. Doyle sold 8,954 shares of the business’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 completion of the transaction, the director now 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

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

Perrigo Trading Down 0.1 %

NYSE:PRGO opened at $28.50 on Tuesday. Perrigo Company plc has a 1 year low of $23.89 and a 1 year high of $34.60. The stock’s fifty day moving average price is $26.06 and its two-hundred day moving average price is $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 (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, analysts expect that Perrigo Company plc will post 2.56 EPS for the current 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 given a dividend of $0.276 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.87%. Perrigo’s dividend payout ratio (DPR) is currently -94.02%.

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.