Atria Investments Inc Makes New Investment in Perrigo Company plc (NYSE:PRGO)

Atria Investments Inc bought a new position in Perrigo Company plc (NYSE:PRGO) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,933 shares of the company’s stock, valued at approximately $208,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Beach Investment Counsel Inc. PA bought a new position in shares of Perrigo during the 2nd quarter valued at about $72,000. Voisard Asset Management Group Inc. increased its position in shares of Perrigo by 520.0% during the 2nd quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock valued at $119,000 after purchasing an additional 3,900 shares during the last quarter. CWM LLC grew its position in Perrigo by 877.0% during the 2nd quarter. CWM LLC now owns 8,197 shares of the company’s stock worth $210,000 after acquiring an additional 7,358 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Perrigo during the 2nd quarter worth approximately $213,000. Finally, nVerses Capital LLC bought a new position in Perrigo during the 3rd quarter worth approximately $262,000. 95.91% of the stock is currently owned by institutional investors.

Perrigo Stock Performance

Shares of PRGO opened at $28.07 on Monday. 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 Company plc has a one year low of $23.89 and a one year high of $34.60. The firm has a market capitalization of $3.83 billion, a P/E ratio of -23.99 and a beta of 0.48. The business has a fifty day moving average of $25.98 and a 200 day moving average of $27.08.

Perrigo (NYSE:PRGO) last released its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. Perrigo’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. As a group, sell-side analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be given a $0.276 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.10 annualized dividend and a dividend yield of 3.93%. Perrigo’s payout ratio is -94.02%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PRGO. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group restated a “buy” rating and issued a $42.00 target price on shares of Perrigo in a research note on Monday, September 30th. Finally, 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Insider Activity

In other news, Director Katherine C. Doyle sold 8,954 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the transaction, the director now directly owns 6,009 shares in the company, valued at $164,045.70. The trade was a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.70% of the company’s stock.

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.