Perrigo Company plc (NYSE:PRGO) Stock Position Increased by West Tower Group LLC

West Tower Group LLC grew its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 174.0% during the third quarter, Holdings Channel reports. The firm owned 101,992 shares of the company’s stock after purchasing an additional 64,766 shares during the quarter. Perrigo comprises about 5.7% of West Tower Group LLC’s holdings, making the stock its 2nd largest position. West Tower Group LLC’s holdings in Perrigo were worth $2,675,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Foundry Partners LLC acquired a new position in shares of Perrigo during the third quarter worth about $7,111,000. Invenomic Capital Management LP acquired a new position in shares of Perrigo during the first quarter worth about $2,425,000. AQR Capital Management LLC grew its position in shares of Perrigo by 675.5% during the second quarter. AQR Capital Management LLC now owns 970,637 shares of the company’s stock worth $24,926,000 after buying an additional 845,470 shares in the last quarter. Tidal Investments LLC grew its position in shares of Perrigo by 423.8% during the first quarter. Tidal Investments LLC now owns 77,254 shares of the company’s stock worth $2,478,000 after buying an additional 62,504 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Perrigo by 3.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 655,974 shares of the company’s stock worth $16,845,000 after buying an additional 23,835 shares in the last quarter. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Perrigo Stock Performance

NYSE:PRGO opened at $28.40 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 stock has a market cap of $3.87 billion, a PE ratio of -24.27 and a beta of 0.48. The firm’s fifty day simple moving average is $25.99 and its 200-day simple moving average is $27.06.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, hitting the consensus estimate of $0.81. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the firm earned $0.64 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. 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, December 17th. Investors of record on Friday, November 29th will be given a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Friday, November 29th. Perrigo’s dividend payout ratio (DPR) is presently -94.02%.

Wall Street Analyst Weigh In

PRGO has been the subject of a number of research analyst reports. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $30.00 price target (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 price target on shares of Perrigo in a report on Monday, September 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Insider Buying and Selling

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

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.