Mirae Asset Global Investments Co. Ltd. Acquires Shares of 28,813 Perrigo Company plc (NYSE:PRGO)

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Perrigo Company plc (NYSE:PRGO) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 28,813 shares of the company’s stock, valued at approximately $927,000.

Several other institutional investors have also recently bought and sold shares of the business. Pinnacle Associates Ltd. raised its position in Perrigo by 29.2% in the 4th quarter. Pinnacle Associates Ltd. now owns 11,435 shares of the company’s stock valued at $368,000 after purchasing an additional 2,585 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in Perrigo by 4.1% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 9,627 shares of the company’s stock valued at $310,000 after purchasing an additional 380 shares during the last quarter. Blue Trust Inc. raised its position in Perrigo by 34.5% in the 4th quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock valued at $50,000 after purchasing an additional 399 shares during the last quarter. Pacer Advisors Inc. raised its position in Perrigo by 78.5% in the 4th quarter. Pacer Advisors Inc. now owns 20,364 shares of the company’s stock valued at $655,000 after purchasing an additional 8,958 shares during the last quarter. Finally, Raymond James & Associates raised its position in Perrigo by 78.7% in the 4th quarter. Raymond James & Associates now owns 169,789 shares of the company’s stock valued at $5,464,000 after purchasing an additional 74,782 shares during the last quarter. Institutional investors own 95.91% of the company’s stock.

Insider Activity

In other news, EVP Alison Ives purchased 2,490 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were bought at an average cost of $27.26 per share, for a total transaction of $67,877.40. Following the completion of the acquisition, the executive vice president now directly owns 16,122 shares in the company, valued at approximately $439,485.72. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Robert Willis bought 6,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were acquired at an average price of $25.87 per share, for a total transaction of $155,220.00. Following the completion of the acquisition, the executive vice president now owns 25,105 shares of the company’s stock, valued at approximately $649,466.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alison Ives bought 2,490 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average price of $27.26 per share, for a total transaction of $67,877.40. Following the acquisition, the executive vice president now directly owns 16,122 shares of the company’s stock, valued at approximately $439,485.72. The disclosure for this purchase can be found here. Insiders have bought a total of 17,990 shares of company stock worth $475,227 over the last three months. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

PRGO has been the subject of several research reports. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 target price on shares of Perrigo in a research note on Friday, April 12th. JPMorgan Chase & Co. lowered their target price on Perrigo from $48.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Finally, Piper Sandler lifted their target price on Perrigo from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Monday, April 8th.

Perrigo Stock Performance

PRGO stock opened at $30.49 on Wednesday. The business’s 50-day moving average price is $30.55 and its two-hundred day moving average price is $30.78. The company has a current ratio of 1.79, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76. The firm has a market cap of $4.13 billion, a PE ratio of -304.90 and a beta of 0.64. Perrigo Company plc has a 1-year low of $25.77 and a 1-year high of $40.28.

Perrigo (NYSE:PRGO) last posted its earnings results on Tuesday, February 27th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. Perrigo had a positive return on equity of 7.34% and a negative net margin of 0.27%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. As a group, research analysts forecast that Perrigo Company plc will post 2.55 earnings per share for the current year.

Perrigo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 8th were issued a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.62%. This is a positive change from Perrigo’s previous quarterly dividend of $0.27. The ex-dividend date was Thursday, March 7th. Perrigo’s payout ratio is -1,100.00%.

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.