abrdn plc Takes Position in Perrigo Company plc (NYSE:PRGO)

abrdn plc purchased a new position in Perrigo Company plc (NYSE:PRGO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 44,174 shares of the company’s stock, valued at approximately $1,422,000.

Other large investors have also added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC grew its holdings in Perrigo by 4.1% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 9,627 shares of the company’s stock valued at $310,000 after buying an additional 380 shares in the last quarter. Blue Trust Inc. increased its holdings in Perrigo by 34.5% during the 4th quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock worth $50,000 after acquiring an additional 399 shares during the period. Xponance Inc. boosted its holdings in Perrigo by 2.1% in the 4th quarter. Xponance Inc. now owns 20,153 shares of the company’s stock valued at $649,000 after purchasing an additional 410 shares during the period. Fifth Third Bancorp grew its position in shares of Perrigo by 39.5% during the 3rd quarter. Fifth Third Bancorp now owns 1,714 shares of the company’s stock valued at $55,000 after purchasing an additional 485 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Perrigo by 1.5% in the third quarter. Arizona State Retirement System now owns 38,531 shares of the company’s stock worth $1,231,000 after buying an additional 581 shares in the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Perrigo from $48.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research note on Friday, April 12th. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, Piper Sandler increased 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.

Insider Activity at Perrigo

In related news, CEO Patrick Lockwood-Taylor acquired 9,500 shares of the stock in a transaction on Thursday, February 29th. The stock was purchased at an average price of $26.54 per share, for a total transaction of $252,130.00. Following the completion of the transaction, the chief executive officer now owns 20,500 shares of the company’s stock, valued at approximately $544,070. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Perrigo news, EVP Alison Ives bought 2,490 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average cost of $27.26 per share, with a total value of $67,877.40. Following the completion of the purchase, the executive vice president now directly owns 16,122 shares of the company’s stock, valued at $439,485.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick Lockwood-Taylor purchased 9,500 shares of Perrigo stock in a transaction that occurred on Thursday, February 29th. The shares were acquired at an average price of $26.54 per share, for a total transaction of $252,130.00. Following the acquisition, the chief executive officer now owns 20,500 shares in the company, valued at $544,070. The disclosure for this purchase can be found here. Insiders purchased 17,990 shares of company stock worth $475,227 in the last ninety days. 0.70% of the stock is owned by company insiders.

Perrigo Stock Up 2.7 %

Shares of NYSE PRGO opened at $32.80 on Tuesday. The stock has a market capitalization of $4.44 billion, a P/E ratio of -328.00 and a beta of 0.64. Perrigo Company plc has a one year low of $25.77 and a one year high of $40.28. The firm’s 50 day simple moving average is $30.54 and its two-hundred day simple moving average is $30.82. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.07.

Perrigo (NYSE:PRGO) last released its earnings results on Tuesday, February 27th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.83 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. Perrigo had a negative net margin of 0.27% and a positive return on equity of 7.34%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 EPS. As a group, analysts expect that Perrigo Company plc will post 2.55 EPS for the current fiscal year.

Perrigo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 8th were paid a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Perrigo’s previous quarterly dividend of $0.27. Perrigo’s payout ratio is -1,100.00%.

About Perrigo

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.