Creative Planning Acquires 12,355 Shares of Perrigo Company plc $PRGO

Creative Planning raised its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 51.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,350 shares of the company’s stock after buying an additional 12,355 shares during the quarter. Creative Planning’s holdings in Perrigo were worth $971,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. State of Michigan Retirement System raised its stake in Perrigo by 1.2% during the 2nd quarter. State of Michigan Retirement System now owns 33,058 shares of the company’s stock valued at $883,000 after purchasing an additional 400 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Perrigo by 54.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the company’s stock worth $32,000 after buying an additional 424 shares in the last quarter. Amundi grew its position in Perrigo by 11.7% during the first quarter. Amundi now owns 5,292 shares of the company’s stock worth $148,000 after buying an additional 556 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Perrigo by 1.4% during the second quarter. Public Employees Retirement System of Ohio now owns 42,290 shares of the company’s stock valued at $1,130,000 after acquiring an additional 564 shares during the period. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Perrigo by 1.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 57,625 shares of the company’s stock worth $1,540,000 after purchasing an additional 570 shares in the last quarter. Institutional investors own 95.91% of the company’s stock.

Analysts Set New Price Targets

PRGO has been the subject of a number of recent research reports. Jefferies Financial Group cut their target price on Perrigo from $27.00 to $23.00 and set a “hold” rating for the company in a research note on Monday, October 27th. Weiss Ratings restated a “sell (d+)” rating on shares of Perrigo in a research note on Tuesday, November 25th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $20.00 target price (down from $32.00) on shares of Perrigo in a research report on Thursday, November 6th. Zacks Research cut shares of Perrigo from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Finally, Wall Street Zen cut shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Perrigo presently has an average rating of “Reduce” and an average target price of $22.50.

Insider Buying and Selling

In other news, Director Geoffrey M. Parker acquired 7,500 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were purchased at an average cost of $14.18 per share, for a total transaction of $106,350.00. Following the transaction, the director owned 17,375 shares of the company’s stock, valued at approximately $246,377.50. This represents a 75.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Abigail Lennox bought 1,255 shares of the stock in a transaction dated Monday, September 8th. The stock was purchased at an average cost of $22.41 per share, with a total value of $28,124.55. Following the completion of the purchase, the executive vice president directly owned 1,255 shares in the company, valued at approximately $28,124.55. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.70% of the company’s stock.

Perrigo Trading Down 0.5%

Shares of PRGO opened at $13.35 on Monday. The stock has a fifty day moving average price of $18.66 and a two-hundred day moving average price of $23.10. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 2.32. Perrigo Company plc has a 52-week low of $12.17 and a 52-week high of $30.93. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -23.02 and a beta of 0.42.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.05. Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company earned $0.81 EPS. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. Analysts predict that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 28th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend is Friday, November 28th. Perrigo’s dividend payout ratio is -305.26%.

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.