Diamond Hill Capital Management Inc. Has $40.04 Million Stake in Perrigo Company plc $PRGO

Diamond Hill Capital Management Inc. lifted its stake in Perrigo Company plc (NYSE:PRGO) by 8.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,797,746 shares of the company’s stock after purchasing an additional 142,363 shares during the period. Diamond Hill Capital Management Inc. owned 1.31% of Perrigo worth $40,036,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PRGO. Cooke & Bieler LP grew its position in shares of Perrigo by 11.6% during the 3rd quarter. Cooke & Bieler LP now owns 3,680,411 shares of the company’s stock worth $81,963,000 after buying an additional 381,290 shares during the period. Nicola Wealth Management LTD. grew its position in shares of Perrigo by 38.4% in the 3rd quarter. Nicola Wealth Management LTD. now owns 281,000 shares of the company’s stock valued at $6,257,000 after purchasing an additional 78,000 shares during the period. Access Investment Management LLC bought a new stake in Perrigo during the 2nd quarter worth approximately $8,931,000. Sound Income Strategies LLC raised its holdings in Perrigo by 35.7% during the 3rd quarter. Sound Income Strategies LLC now owns 717,731 shares of the company’s stock worth $15,467,000 after buying an additional 188,767 shares during the period. Finally, TD Asset Management Inc bought a new position in Perrigo in the second quarter valued at approximately $965,000. Institutional investors own 95.91% of the company’s stock.

Wall Street Analyst Weigh In

PRGO has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Perrigo from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, December 15th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Perrigo in a report on Monday, December 22nd. Zacks Research cut shares of Perrigo from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Canaccord Genuity Group lowered their price target on shares of Perrigo from $40.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Finally, Argus upgraded shares of Perrigo to a “hold” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Perrigo presently has an average rating of “Reduce” and a consensus price target of $20.33.

Insiders Place Their Bets

In related news, Director Geoffrey M. Parker acquired 7,500 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was purchased at an average cost of $14.18 per share, for a total transaction of $106,350.00. Following the completion of the transaction, the director directly owned 17,375 shares of the company’s stock, valued at approximately $246,377.50. The trade was a 75.95% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is currently owned by corporate insiders.

Perrigo Stock Performance

PRGO opened at $14.66 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.51 and a debt-to-equity ratio of 0.81. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -38.58, a PEG ratio of 1.32 and a beta of 0.39. Perrigo Company plc has a 12-month low of $12.17 and a 12-month high of $30.93. The business has a 50 day moving average of $14.08 and a 200-day moving average of $18.66.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.05. Perrigo had a positive return on equity of 9.16% and a negative net margin of 1.21%.The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm posted $0.81 EPS. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, equities research analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current year.

About Perrigo

Perrigo Company plc is a global healthcare supplier specializing in over-the-counter (OTC) and self-care products, as well as generic prescription pharmaceuticals and active pharmaceutical ingredients. The company develops, manufactures and distributes a broad array of consumer health products, including analgesics, vitamins and supplements, digestive health remedies, topical treatments, and infant formulas. Perrigo’s focus on private-label solutions has made it a leading partner for retailers and pharmacy chains seeking high-quality, value-oriented alternatives to branded medications and health supplements.

Organized across three principal business segments—Consumer Healthcare, Prescription Pharmaceuticals and Active Pharmaceutical Ingredients—Perrigo’s operations span research and development, manufacturing, quality assurance and global distribution.