BlackRock Inc. Raises Stock Holdings in Perrigo Company plc (NYSE:PRGO)

BlackRock Inc. lifted its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 2.2% in the 3rd quarter, Holdings Channel reports. The firm owned 10,198,198 shares of the company’s stock after acquiring an additional 215,903 shares during the period. BlackRock Inc. owned about 0.07% of Perrigo worth $468,199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Amundi Pioneer Asset Management Inc. boosted its stake in Perrigo by 26.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 130,128 shares of the company’s stock worth $6,267,000 after buying an additional 27,379 shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in Perrigo in the first quarter worth approximately $134,000. Morgan Stanley boosted its stake in Perrigo by 9.9% in the first quarter. Morgan Stanley now owns 148,095 shares of the company’s stock worth $7,122,000 after buying an additional 13,400 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Perrigo by 8.4% in the second quarter. Envestnet Asset Management Inc. now owns 19,166 shares of the company’s stock worth $1,059,000 after buying an additional 1,488 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Perrigo by 122.0% in the second quarter. Robeco Institutional Asset Management B.V. now owns 67,900 shares of the company’s stock worth $3,754,000 after buying an additional 37,312 shares in the last quarter. 83.52% of the stock is owned by institutional investors.

In related news, Director Theodore R. Samuels II acquired 4,500 shares of the firm’s stock in a transaction dated Monday, November 9th. The stock was purchased at an average cost of $46.91 per share, with a total value of $211,095.00. Following the completion of the acquisition, the director now directly owns 14,290 shares of the company’s stock, valued at $670,343.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by insiders.

Several brokerages have issued reports on PRGO. TheStreet lowered Perrigo from a “b-” rating to a “c+” rating in a research note on Tuesday, September 22nd. ValuEngine lowered Perrigo from a “sell” rating to a “strong sell” rating in a research note on Friday. SVB Leerink dropped their price objective on Perrigo from $64.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, September 17th. Finally, Wells Fargo & Company dropped their price objective on Perrigo from $55.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $58.33.

Shares of NYSE:PRGO opened at $48.11 on Friday. Perrigo Company plc has a 1-year low of $40.01 and a 1-year high of $63.86. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.05 and a quick ratio of 1.49. The business has a fifty day moving average price of $45.85 and a 200-day moving average price of $51.21. The company has a market capitalization of $6.57 billion, a PE ratio of 27.65 and a beta of 1.15.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.84 by $0.09. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. Perrigo had a return on equity of 10.05% and a net margin of 4.73%. Perrigo’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the company earned $1.04 EPS. On average, sell-side analysts anticipate that Perrigo Company plc will post 4.05 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, November 27th will be issued a dividend of $0.225 per share. The ex-dividend date is Wednesday, November 25th. This represents a $0.90 annualized dividend and a dividend yield of 1.87%. Perrigo’s payout ratio is 22.33%.

About Perrigo

Perrigo Company plc provides over-the-counter (OTC) health and wellness solutions that enhance individual well-being by empowering consumers to prevent or treat conditions that can be self-managed. The company operates through Consumer Self-Care Americas, Consumer Self-Care International, and Prescription Pharmaceuticals segments.

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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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