Janney Montgomery Scott LLC Has $2.28 Million Position in Perrigo Company plc $PRGO

Janney Montgomery Scott LLC grew its holdings in Perrigo Company plc (NYSE:PRGO) by 18.3% during the second quarter, Holdings Channel.com reports. The firm owned 85,339 shares of the company’s stock after acquiring an additional 13,213 shares during the period. Janney Montgomery Scott LLC’s holdings in Perrigo were worth $2,280,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in Perrigo by 41.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,073,026 shares of the company’s stock worth $310,488,000 after purchasing an additional 3,227,487 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Perrigo by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 7,135,741 shares of the company’s stock worth $200,085,000 after purchasing an additional 146,211 shares in the last quarter. Sound Shore Management Inc. CT lifted its stake in shares of Perrigo by 23.1% during the first quarter. Sound Shore Management Inc. CT now owns 3,285,167 shares of the company’s stock valued at $92,116,000 after acquiring an additional 616,387 shares during the period. Ion Asset Management Ltd. lifted its stake in shares of Perrigo by 0.5% during the first quarter. Ion Asset Management Ltd. now owns 2,833,894 shares of the company’s stock valued at $79,462,000 after acquiring an additional 13,894 shares during the period. Finally, Copeland Capital Management LLC lifted its stake in shares of Perrigo by 2.6% during the first quarter. Copeland Capital Management LLC now owns 2,452,786 shares of the company’s stock valued at $68,776,000 after acquiring an additional 63,022 shares during the period. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Stock Down 0.5%

Shares of Perrigo stock opened at $21.55 on Friday. Perrigo Company plc has a 1 year low of $20.51 and a 1 year high of $30.93. The business has a 50-day moving average of $22.80 and a two-hundred day moving average of $25.25. The company has a market capitalization of $2.96 billion, a P/E ratio of -37.15 and a beta of 0.43. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24.

Perrigo (NYSE:PRGO) last announced its quarterly 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 business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company earned $0.53 earnings per share. The firm’s revenue was down .9% compared to the same quarter last year. As a group, equities analysts predict that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Friday, August 29th. Perrigo’s dividend payout ratio is currently -200.00%.

Wall Street Analysts Forecast Growth

PRGO has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on Perrigo from $38.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Wall Street Zen raised Perrigo from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Canaccord Genuity Group cut their price target on Perrigo from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Perrigo in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $34.00.

Insider Transactions at Perrigo

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