Perrigo Company plc (NYSE:PRGO) Shares Acquired by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC lifted its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 588,855 shares of the company’s stock after acquiring an additional 25,000 shares during the period. ArrowMark Colorado Holdings LLC owned 0.43% of Perrigo worth $15,446,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Venturi Wealth Management LLC purchased a new stake in Perrigo during the 3rd quarter valued at approximately $56,000. KBC Group NV raised its stake in shares of 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 last quarter. Voisard Asset Management Group Inc. raised its stake in shares of Perrigo by 520.0% during the second quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock worth $119,000 after purchasing an additional 3,900 shares during the last quarter. Atria Investments Inc acquired a new stake in shares of Perrigo during the third quarter worth $208,000. Finally, CWM LLC grew its position in Perrigo by 877.0% in the 2nd quarter. CWM LLC now owns 8,197 shares of the company’s stock valued at $210,000 after buying an additional 7,358 shares during the last quarter. 95.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Jefferies Financial Group restated a “hold” rating and set a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a report on Monday, September 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Perrigo has an average rating of “Moderate Buy” and an average price target of $37.00.

Perrigo Stock Down 0.1 %

NYSE:PRGO opened at $28.50 on Tuesday. 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 Company plc has a fifty-two week low of $23.89 and a fifty-two week high of $34.60. The firm’s fifty day simple moving average is $26.06 and its 200-day simple moving average is $27.01.

Perrigo (NYSE:PRGO) last issued its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, hitting the consensus estimate of $0.81. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. Sell-side analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be issued a $0.276 dividend. This represents a $1.10 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend is Friday, November 29th. Perrigo’s dividend payout ratio (DPR) is -94.02%.

Insider Activity

In other news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $27.30, for a total transaction of $244,444.20. Following the completion of the transaction, the director now directly owns 6,009 shares of the company’s stock, valued at $164,045.70. This trade represents a 59.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.40% of the company’s stock.

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.