Envestnet Portfolio Solutions Inc. Makes New $509,000 Investment in Perrigo Company plc $PRGO

Envestnet Portfolio Solutions Inc. bought a new position in shares of Perrigo Company plc (NYSE:PRGO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,057 shares of the company’s stock, valued at approximately $509,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PRGO. Price T Rowe Associates Inc. MD raised its holdings in shares of Perrigo by 41.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,073,026 shares of the company’s stock valued at $310,488,000 after buying an additional 3,227,487 shares during the period. Millennium Management LLC raised its holdings in shares of Perrigo by 5,198.0% in the 1st quarter. Millennium Management LLC now owns 2,052,599 shares of the company’s stock valued at $57,555,000 after buying an additional 2,013,856 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Perrigo by 126.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,159,768 shares of the company’s stock valued at $32,520,000 after buying an additional 647,982 shares during the period. Bahl & Gaynor Inc. raised its holdings in shares of Perrigo by 40.7% in the 1st quarter. Bahl & Gaynor Inc. now owns 2,146,352 shares of the company’s stock valued at $60,184,000 after buying an additional 621,155 shares during the period. Finally, Sound Shore Management Inc. CT raised its holdings in shares of Perrigo by 23.1% in the 1st quarter. Sound Shore Management Inc. CT now owns 3,285,167 shares of the company’s stock valued at $92,116,000 after buying an additional 616,387 shares during the period. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Insiders Place Their Bets

In other Perrigo news, EVP Robert Willis purchased 1,488 shares of the firm’s stock in a transaction on 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 acquisition, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Eduardo Guarita Bezerra purchased 3,000 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were acquired at an average cost of $22.74 per share, with a total value of $68,220.00. Following the completion of the acquisition, the chief financial officer directly owned 48,949 shares in the company, valued at $1,113,100.26. The trade was 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 quarter. Corporate insiders own 0.40% of the company’s stock.

Perrigo Trading Up 1.1%

PRGO opened at $21.93 on Wednesday. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -37.81 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. The business has a fifty day moving average price of $22.35 and a 200 day moving average price of $24.90. Perrigo Company plc has a 12 month low of $20.51 and a 12 month high of $30.93.

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 analysts’ consensus estimates of $0.59 by ($0.02). The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Perrigo had a positive return on equity of 9.09% and a negative net margin of 1.86%.The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. Sell-side analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Friday, August 29th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend was Friday, August 29th. Perrigo’s payout ratio is -200.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wall Street Zen downgraded Perrigo from a “buy” rating to a “hold” rating in a report on Saturday. Canaccord Genuity Group lowered their target price on Perrigo from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Perrigo in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered their target price on Perrigo from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $34.00.

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.