Novem Group Buys 2,692 Shares of Perrigo Company plc $PRGO

Novem Group lifted its stake in shares of Perrigo Company plc (NYSE:PRGO) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 110,770 shares of the company’s stock after purchasing an additional 2,692 shares during the quarter. Novem Group owned 0.08% of Perrigo worth $2,960,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Diamond Hill Capital Management Inc. increased its stake in Perrigo by 0.6% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,894,739 shares of the company’s stock worth $53,128,000 after acquiring an additional 11,256 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Perrigo by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 313,849 shares of the company’s stock worth $8,800,000 after purchasing an additional 914 shares in the last quarter. D.A. Davidson & CO. purchased a new position in shares of Perrigo in the 1st quarter worth about $1,619,000. GAMMA Investing LLC boosted its holdings in shares of Perrigo by 91.9% in the 1st quarter. GAMMA Investing LLC now owns 3,685 shares of the company’s stock worth $103,000 after purchasing an additional 1,765 shares in the last quarter. Finally, Beach Investment Counsel Inc. PA purchased a new position in shares of Perrigo in the 1st quarter worth about $1,526,000. 95.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PRGO shares. JPMorgan Chase & Co. cut their price objective on Perrigo from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Wall Street Zen cut Perrigo from a “buy” rating to a “hold” rating in a report on Saturday, September 20th. Finally, Canaccord Genuity Group cut their price objective on Perrigo from $42.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Perrigo Trading Down 2.8%

NYSE PRGO opened at $20.79 on Friday. Perrigo Company plc has a fifty-two week low of $20.51 and a fifty-two week high of $30.93. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 2.32. The stock has a 50 day simple moving average of $23.93 and a two-hundred day simple moving average of $25.65. The stock has a market cap of $2.86 billion, a P/E ratio of -35.84 and a beta of 0.48.

Perrigo (NYSE:PRGO) last announced its earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.02). Perrigo had a positive return on equity of 9.09% and a negative net margin of 1.86%.The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the company posted $0.53 EPS. The firm’s revenue was down .9% on a year-over-year basis. On average, analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 29th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Friday, August 29th. Perrigo’s dividend payout ratio (DPR) is -200.00%.

Insiders Place Their Bets

In other Perrigo news, CFO Eduardo Guarita Bezerra bought 3,000 shares of the business’s stock in a transaction on Monday, August 18th. The shares were acquired at an average cost of $22.74 per share, for a total transaction of $68,220.00. Following the purchase, the chief financial officer owned 48,949 shares in the company, valued at approximately $1,113,100.26. This trade represents a 6.53% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Willis bought 1,488 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were acquired at an average price of $24.10 per share, for a total transaction of $35,860.80. Following the completion of the purchase, the executive vice president owned 41,939 shares in the company, valued at approximately $1,010,729.90. The trade was a 3.68% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 10,118 shares of company stock valued at $232,699. 0.70% of the stock is currently owned by company 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.