West Tower Group LLC Has $3.06 Million Stock Position in Perrigo Company plc (NYSE:PRGO)

West Tower Group LLC lifted its position in Perrigo Company plc (NYSE:PRGO) by 16.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 118,914 shares of the company’s stock after acquiring an additional 16,922 shares during the period. Perrigo makes up about 6.8% of West Tower Group LLC’s investment portfolio, making the stock its largest position. West Tower Group LLC’s holdings in Perrigo were worth $3,057,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc bought a new position in shares of Perrigo in the fourth quarter valued at $45,000. GAMMA Investing LLC boosted its position in Perrigo by 93.7% during the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $49,000 after purchasing an additional 929 shares during the period. Central Pacific Bank Trust Division boosted its position in Perrigo by 33.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock worth $51,000 after purchasing an additional 500 shares during the period. Venturi Wealth Management LLC boosted its position in Perrigo by 97.8% during the fourth quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company’s stock worth $108,000 after purchasing an additional 2,084 shares during the period. Finally, KBC Group NV boosted its position in Perrigo by 25.1% during the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after purchasing an additional 905 shares during the period. 95.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Argus cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Piper Sandler cut shares of Perrigo from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $34.00 to $27.00 in a research report on Monday, January 6th. Finally, StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Perrigo currently has a consensus rating of “Hold” and an average price target of $33.00.

Insider Activity at Perrigo

In related news, EVP Ronald Craig Janish sold 7,800 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $27.44, for a total value of $214,032.00. Following the completion of the transaction, the executive vice president now owns 33,666 shares of the company’s stock, valued at $923,795.04. The trade was a 18.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by insiders.

Perrigo Stock Down 1.6 %

PRGO opened at $27.83 on Wednesday. Perrigo Company plc has a fifty-two week low of $23.14 and a fifty-two week high of $33.46. 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 $3.80 billion, a P/E ratio of -23.78 and a beta of 0.48. The stock has a fifty day moving average of $25.53 and a 200-day moving average of $26.16.

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

Perrigo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date is Friday, March 7th. This is an increase from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s payout ratio is -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.