Pacer Advisors Inc. Buys New Shares in Perrigo Company plc (NYSE:PRGO)

Posted by Defense World Staff on May 2nd, 2023

Pacer Advisors Inc. purchased a new position in shares of Perrigo Company plc (NYSE:PRGO – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 31,992 shares of the company’s stock, valued at approximately $1,091,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Trust Co. NA increased its stake in Perrigo by 228.5% during the third quarter. Private Trust Co. NA now owns 910 shares of the company’s stock worth $32,000 after acquiring an additional 633 shares during the last quarter. Wipfli Financial Advisors LLC acquired a new stake in Perrigo during the third quarter worth about $34,000. CWM LLC boosted its position in shares of Perrigo by 315.2% in the third quarter. CWM LLC now owns 1,009 shares of the company’s stock worth $36,000 after buying an additional 766 shares during the period. Fifth Third Bancorp boosted its position in shares of Perrigo by 117.0% in the third quarter. Fifth Third Bancorp now owns 1,274 shares of the company’s stock worth $45,000 after buying an additional 687 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Perrigo by 70.9% in the third quarter. Rockefeller Capital Management L.P. now owns 1,282 shares of the company’s stock worth $45,000 after buying an additional 532 shares during the period. 94.09% of the stock is currently owned by institutional investors and hedge funds.

Perrigo Trading Up 0.9 %

Shares of PRGO opened at $37.54 on Tuesday. The company has a market capitalization of $5.07 billion, a P/E ratio of -39.10 and a beta of 0.79. Perrigo Company plc has a one year low of $30.78 and a one year high of $43.90. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 2.44. The stock has a 50-day moving average price of $36.15 and a 200 day moving average price of $35.61.

Perrigo (NYSE:PRGO – Get Rating) last issued its quarterly earnings results on Monday, February 27th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.20 billion. Perrigo had a positive return on equity of 5.79% and a negative net margin of 2.91%. Perrigo’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 earnings per share. Sell-side analysts forecast that Perrigo Company plc will post 2.58 EPS for the current fiscal year.

Perrigo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 28th. Shareholders of record on Friday, March 10th were issued a dividend of $0.273 per share. This represents a $1.09 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Thursday, March 9th. This is an increase from Perrigo’s previous quarterly dividend of $0.26. Perrigo’s dividend payout ratio (DPR) is currently -113.54%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PRGO. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a research report on Sunday, April 16th. Raymond James upped their target price on Perrigo from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Sunday, March 5th. Finally, Canaccord Genuity Group began coverage on Perrigo in a research report on Tuesday, March 7th. They issued a “buy” rating and a $49.00 target price for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Perrigo has an average rating of “Buy” and a consensus price target of $48.00.

Insiders Place Their Bets

In other news, Director Geoffrey M. Parker bought 5,000 shares of Perrigo stock in a transaction on Monday, March 6th. The shares were bought at an average price of $38.05 per share, with a total value of $190,250.00. Following the acquisition, the director now directly owns 15,879 shares in the company, valued at approximately $604,195.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Geoffrey M. Parker bought 5,000 shares of Perrigo stock in a transaction on Monday, March 6th. The shares were bought at an average price of $38.05 per share, with a total value of $190,250.00. Following the acquisition, the director now directly owns 15,879 shares in the company, valued at approximately $604,195.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ronald Craig Janish sold 4,500 shares of the stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $36.92, for a total value of $166,140.00. Following the sale, the executive vice president now owns 20,191 shares in the company, valued at $745,451.72. The disclosure for this sale can be found here. Insiders have sold a total of 17,223 shares of company stock valued at $619,867 in the last quarter. Insiders own 0.70% of the company’s stock.

About Perrigo

(Get Rating)

Perrigo Co Plc engages in the provision of self-care products and over-the-counter (OTC) health and wellness solutions. It enhances individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. It operates through the following segments: Consumer Self-Care Americas (CSCA) and Consumer Self-Care International (CSCI).