Raymond James Financial Services Advisors Inc. Sells 1,314 Shares of Perrigo Company plc (NYSE:PRGO)

Raymond James Financial Services Advisors Inc. trimmed its stake in shares of Perrigo Company plc (NYSE:PRGO) by 11.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,683 shares of the company’s stock after selling 1,314 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Perrigo were worth $312,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Qube Research & Technologies Ltd purchased a new position in Perrigo during the third quarter worth about $5,447,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Perrigo during the third quarter worth about $2,006,000. Teachers Retirement System of The State of Kentucky grew its position in Perrigo by 94.1% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 46,118 shares of the company’s stock worth $1,473,000 after buying an additional 22,354 shares in the last quarter. Blair William & Co. IL grew its position in Perrigo by 170.5% during the third quarter. Blair William & Co. IL now owns 25,023 shares of the company’s stock worth $799,000 after buying an additional 15,774 shares in the last quarter. Finally, Privium Fund Management B.V. purchased a new position in Perrigo during the third quarter worth about $1,278,000. 95.91% of the stock is currently owned by institutional investors.

Perrigo Price Performance

PRGO opened at $30.06 on Tuesday. The stock has a 50-day moving average price of $30.58 and a 200-day moving average price of $30.78. Perrigo Company plc has a 12-month low of $25.77 and a 12-month high of $40.28. The company has a current ratio of 1.79, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $4.07 billion, a P/E ratio of -300.60 and a beta of 0.64.

Perrigo (NYSE:PRGO) last released its earnings results on Tuesday, February 27th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. Perrigo had a positive return on equity of 7.34% and a negative net margin of 0.27%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the company posted $0.75 EPS. Perrigo’s revenue for the quarter was up .1% on a year-over-year basis. Equities analysts predict that Perrigo Company plc will post 2.55 earnings per share for the current fiscal year.

Perrigo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 8th were given a $0.276 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.10 annualized dividend and a dividend yield of 3.67%. This is a positive change from Perrigo’s previous quarterly dividend of $0.27. Perrigo’s dividend payout ratio is currently -1,100.00%.

Insider Buying and Selling

In related news, EVP Robert Willis purchased 6,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average price of $25.87 per share, for a total transaction of $155,220.00. Following the purchase, the executive vice president now directly owns 25,105 shares of the company’s stock, valued at approximately $649,466.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Alison Ives purchased 2,490 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average price of $27.26 per share, for a total transaction of $67,877.40. Following the purchase, the executive vice president now directly owns 16,122 shares of the company’s stock, valued at approximately $439,485.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Willis purchased 6,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was bought at an average price of $25.87 per share, for a total transaction of $155,220.00. Following the purchase, the executive vice president now directly owns 25,105 shares in the company, valued at $649,466.35. The disclosure for this purchase can be found here. Insiders have purchased 17,990 shares of company stock worth $475,227 in the last 90 days. Insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

PRGO has been the subject of several recent analyst reports. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Piper Sandler upped their price objective on Perrigo from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. cut their price objective on Perrigo from $48.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th.

Perrigo Profile

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.