UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stake in Perrigo Company plc (NYSE:PRGO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Perrigo Company plc (NYSE:PRGO) by 14.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 480,961 shares of the company’s stock after acquiring an additional 61,824 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.35% of Perrigo worth $12,366,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC raised its stake in shares of Perrigo by 44.8% in the third quarter. Barclays PLC now owns 120,502 shares of the company’s stock valued at $3,160,000 after acquiring an additional 37,268 shares during the period. Access Investment Management LLC bought a new position in shares of Perrigo in the fourth quarter worth about $7,989,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Perrigo by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,048,005 shares of the company’s stock worth $26,944,000 after purchasing an additional 13,835 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Perrigo in the fourth quarter worth about $3,177,000. Finally, SG Americas Securities LLC bought a new position in shares of Perrigo in the fourth quarter worth about $691,000. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Ronald Craig Janish sold 7,800 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $27.44, for a total value of $214,032.00. Following the sale, the executive vice president now directly owns 33,666 shares in the company, valued at approximately $923,795.04. This trade represents a 18.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a report on Saturday, May 24th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $33.00.

Perrigo Stock Up 0.1%

Shares of Perrigo stock opened at $27.12 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. Perrigo Company plc has a 1 year low of $23.14 and a 1 year high of $30.93. The firm’s 50-day moving average is $26.11 and its two-hundred day moving average is $26.20. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of -23.18 and a beta of 0.45.

Perrigo (NYSE:PRGO) last issued its earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the business earned $0.29 EPS. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, research analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.28%. The ex-dividend date is Friday, May 30th. Perrigo’s payout ratio is -88.55%.

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.