Bahl & Gaynor Inc. Raises Stock Holdings in Perrigo Company plc (NYSE:PRGO)

Bahl & Gaynor Inc. grew its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 839,558 shares of the company’s stock after purchasing an additional 11,913 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.62% of Perrigo worth $27,017,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Semanteon Capital Management LP purchased a new stake in shares of Perrigo during the 4th quarter valued at about $835,000. State of New Jersey Common Pension Fund D increased its position in shares of Perrigo by 18.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 82,157 shares of the company’s stock valued at $2,644,000 after purchasing an additional 12,603 shares during the last quarter. Alaska Permanent Fund Corp increased its position in shares of Perrigo by 16,773.6% during the 4th quarter. Alaska Permanent Fund Corp now owns 14,680 shares of the company’s stock valued at $472,000 after purchasing an additional 14,593 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Perrigo during the 4th quarter valued at approximately $30,000. Finally, Parkside Financial Bank & Trust grew its stake in shares of Perrigo by 1,694.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company’s stock valued at $34,000 after acquiring an additional 983 shares during the period. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Insider Activity at Perrigo

In related news, EVP Robert Willis purchased 6,000 shares of the firm’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 acquisition, the executive vice president now 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 is available through this link. In other Perrigo news, EVP Robert Willis bought 6,000 shares of Perrigo stock in a transaction on Thursday, February 29th. The shares were acquired at an average price of $25.87 per share, for a total transaction of $155,220.00. Following the completion of the purchase, the executive vice president now directly owns 25,105 shares in the company, valued at approximately $649,466.35. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Patrick Lockwood-Taylor bought 9,500 shares of Perrigo stock in a transaction on Thursday, February 29th. The stock was acquired at an average price of $26.54 per share, for a total transaction of $252,130.00. Following the purchase, the chief executive officer now owns 20,500 shares of the company’s stock, valued at $544,070. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 17,990 shares of company stock worth $475,227. Company insiders own 0.70% of the company’s stock.

Perrigo Price Performance

Shares of PRGO traded up $0.67 during mid-day trading on Friday, hitting $31.94. 945,679 shares of the stock were exchanged, compared to its average volume of 1,812,863. The company has a market cap of $4.33 billion, a PE ratio of -319.40 and a beta of 0.64. Perrigo Company plc has a 52-week low of $25.77 and a 52-week high of $40.28. The firm has a 50-day moving average of $30.52 and a two-hundred day moving average of $30.80. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.07 and a current ratio of 1.79.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm posted $0.75 EPS. Perrigo’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities analysts predict that Perrigo Company plc will post 2.55 earnings per share for the current year.

Perrigo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Friday, March 8th were issued a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Perrigo’s previous quarterly dividend of $0.27. Perrigo’s dividend payout ratio is presently -1,100.00%.

Analyst Ratings Changes

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

Perrigo Company 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.