Monaco Asset Management SAM Acquires 30,000 Shares of Perrigo Company plc (NYSE:PRGO)

Monaco Asset Management SAM increased its position in shares of Perrigo Company plc (NYSE:PRGO) by 20.1% during the 4th quarter, HoldingsChannel reports. The fund owned 179,095 shares of the company’s stock after purchasing an additional 30,000 shares during the quarter. Perrigo accounts for about 0.7% of Monaco Asset Management SAM’s investment portfolio, making the stock its 15th largest holding. Monaco Asset Management SAM’s holdings in Perrigo were worth $4,605,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PRGO. Commonwealth Equity Services LLC boosted its position in shares of Perrigo by 5.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 43,927 shares of the company’s stock worth $1,129,000 after purchasing an additional 2,365 shares during the last quarter. Fore Capital LLC boosted its position in shares of Perrigo by 35.7% in the 4th quarter. Fore Capital LLC now owns 38,000 shares of the company’s stock worth $977,000 after purchasing an additional 10,000 shares during the last quarter. Swiss National Bank boosted its position in shares of Perrigo by 0.6% in the 4th quarter. Swiss National Bank now owns 268,300 shares of the company’s stock worth $6,898,000 after purchasing an additional 1,700 shares during the last quarter. HighTower Advisors LLC grew its stake in Perrigo by 8.5% in the fourth quarter. HighTower Advisors LLC now owns 13,307 shares of the company’s stock valued at $342,000 after acquiring an additional 1,043 shares during the period. Finally, AGF Management Ltd. bought a new stake in shares of Perrigo in the fourth quarter worth about $2,363,000. Institutional investors and hedge funds own 95.91% of the company’s stock.

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 dated Monday, March 10th. The shares were sold at an average price of $27.44, for a total value of $214,032.00. Following the transaction, the executive vice president now owns 33,666 shares in the company, valued at approximately $923,795.04. This represents a 18.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Piper Sandler downgraded Perrigo from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $34.00 to $27.00 in a report on Monday, January 6th. StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Argus downgraded Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $33.00.

Perrigo Trading Down 2.2 %

Shares of NYSE:PRGO opened at $26.88 on Friday. The company’s 50-day moving average price is $25.38 and its two-hundred day moving average price is $26.22. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. Perrigo Company plc has a one year low of $23.14 and a one year high of $33.46. The stock has a market capitalization of $3.67 billion, a PE ratio of -22.97 and a beta of 0.48.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.92 by $0.01. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. On average, equities analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.16 dividend on an annualized basis and a yield of 4.32%. This is a boost from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio (DPR) is currently -92.80%.

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.