Harbor Capital Advisors Inc. Acquires 1,342 Shares of Perrigo Company plc (NYSE:PRGO)

Harbor Capital Advisors Inc. increased its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 2.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 54,363 shares of the company’s stock after purchasing an additional 1,342 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Perrigo were worth $1,398,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc bought a new position in shares of Perrigo during the fourth quarter worth approximately $45,000. GAMMA Investing LLC grew its position in Perrigo by 93.7% during the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $49,000 after buying an additional 929 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in Perrigo by 33.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock worth $51,000 after acquiring an additional 500 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of Perrigo during the 3rd quarter valued at $56,000. Finally, KBC Group NV grew its holdings in shares of Perrigo by 25.1% during the 3rd quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after purchasing an additional 905 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PRGO. Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. StockNews.com lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday. Canaccord Genuity Group restated a “buy” rating and set a $42.00 price objective on shares of Perrigo in a research report on Monday, September 30th. Finally, Piper Sandler downgraded Perrigo from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $34.00 to $27.00 in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Perrigo presently has a consensus rating of “Hold” and a consensus target price of $35.00.

Insider Buying and Selling at Perrigo

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $28.27, for a total value of $497,495.46. Following the sale, the director now owns 5,409 shares of the company’s stock, valued at $152,912.43. The trade was a 76.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Perrigo Price Performance

Shares of NYSE:PRGO opened at $24.41 on Monday. The firm has a 50 day simple moving average of $26.74 and a 200 day simple moving average of $26.81. The company has a market cap of $3.33 billion, a price-to-earnings ratio of -20.86 and a beta of 0.53. Perrigo Company plc has a one year low of $23.89 and a one year high of $33.96. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77.

Perrigo (NYSE:PRGO) last issued its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. Research analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th were issued a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date was Friday, November 29th. Perrigo’s payout ratio is -94.02%.

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.