Perrigo Company plc (NYSE:PRGO) Holdings Raised by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. grew its position in shares of Perrigo Company plc (NYSE:PRGO) by 44.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,525,197 shares of the company’s stock after purchasing an additional 472,958 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Perrigo were worth $39,213,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of PRGO. Versant Capital Management Inc purchased a new position in shares of Perrigo during the fourth quarter valued at $45,000. GAMMA Investing LLC raised its holdings in Perrigo by 93.7% in the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $49,000 after acquiring an additional 929 shares during the period. Central Pacific Bank Trust Division increased 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 acquiring an additional 500 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Perrigo during the third quarter valued at about $56,000. Finally, KBC Group NV lifted its position in shares of Perrigo by 25.1% in the 3rd 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. 95.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Perrigo Stock Performance

NYSE:PRGO opened at $28.96 on Tuesday. The stock’s 50-day simple moving average is $25.00 and its 200 day simple moving average is $26.20. The firm has a market capitalization of $3.95 billion, a PE ratio of -24.75 and a beta of 0.54. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $33.46. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94.

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

Perrigo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.29 per share. This is a positive change from Perrigo’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Friday, March 7th. Perrigo’s payout ratio is currently -92.80%.

Insider Activity at Perrigo

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.27, for a total transaction of $497,495.46. Following the sale, the director now owns 5,409 shares of the company’s stock, valued at approximately $152,912.43. This represents a 76.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.70% of the stock is currently owned by insiders.

Perrigo Company 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.