NBC Securities Inc. Purchases 11,124 Shares of Perrigo Company plc (NYSE:PRGO)

NBC Securities Inc. raised its stake in shares of Perrigo Company plc (NYSE:PRGO) by 111,240.0% in the first quarter, Holdings Channel reports. The fund owned 11,134 shares of the company’s stock after acquiring an additional 11,124 shares during the period. NBC Securities Inc.’s holdings in Perrigo were worth $312,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRGO. Price T Rowe Associates Inc. MD raised its holdings in shares of Perrigo by 6,828.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,845,539 shares of the company’s stock valued at $201,710,000 after buying an additional 7,732,309 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Perrigo by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,989,530 shares of the company’s stock worth $179,698,000 after purchasing an additional 27,835 shares during the last quarter. Deprince Race & Zollo Inc. raised its holdings in Perrigo by 1.1% during the 4th quarter. Deprince Race & Zollo Inc. now owns 4,557,844 shares of the company’s stock worth $117,182,000 after purchasing an additional 50,728 shares during the last quarter. Cooke & Bieler LP raised its position in shares of Perrigo by 4.1% in the 4th quarter. Cooke & Bieler LP now owns 3,573,651 shares of the company’s stock valued at $91,879,000 after acquiring an additional 139,650 shares during the period. Finally, Ion Asset Management Ltd. raised its position in shares of Perrigo by 50.1% in the 4th quarter. Ion Asset Management Ltd. now owns 2,820,000 shares of the company’s stock valued at $72,502,000 after acquiring an additional 941,667 shares during the period. 95.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Perrigo Stock Up 0.8%

PRGO opened at $26.18 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. Perrigo Company plc has a fifty-two week low of $23.14 and a fifty-two week high of $30.93. The company has a market capitalization of $3.60 billion, a P/E ratio of -22.38 and a beta of 0.45. The stock has a fifty day moving average of $25.96 and a 200-day moving average of $26.18.

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

Perrigo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Friday, May 30th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend is Friday, May 30th. Perrigo’s dividend payout ratio is currently -88.55%.

Insider Buying and Selling

In related news, EVP Ronald Craig Janish sold 7,800 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $27.44, for a total transaction of $214,032.00. Following the completion of the sale, the executive vice president now owns 33,666 shares in the company, valued at approximately $923,795.04. This represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.70% of the stock is owned by insiders.

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.