Meiji Yasuda Asset Management Co Ltd. Buys 12,254 Shares of Perrigo Company plc (NYSE:PRGO)

Meiji Yasuda Asset Management Co Ltd. increased its holdings in Perrigo Company plc (NYSE:PRGO) by 4.2% in the second quarter, Holdings Channel.com reports. The firm owned 301,570 shares of the company’s stock after acquiring an additional 12,254 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Perrigo were worth $7,744,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PRGO. Central Pacific Bank Trust Division bought a new stake in Perrigo in the first quarter valued at $48,000. Parallel Advisors LLC boosted its holdings in Perrigo by 69.1% in the fourth quarter. Parallel Advisors LLC now owns 2,009 shares of the company’s stock worth $65,000 after purchasing an additional 821 shares during the last quarter. TFC Financial Management Inc. grew its holdings in shares of Perrigo by 39.7% in the first quarter. TFC Financial Management Inc. now owns 2,462 shares of the company’s stock worth $79,000 after acquiring an additional 700 shares during the period. Beach Investment Counsel Inc. PA bought a new position in shares of Perrigo in the 2nd quarter worth approximately $72,000. Finally, Voisard Asset Management Group Inc. lifted its position in Perrigo by 520.0% during the second 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 in the last quarter. 95.91% of the stock is owned by institutional investors.

Perrigo Price Performance

Shares of PRGO stock opened at $28.03 on Wednesday. The stock’s 50-day moving average is $27.88 and its 200 day moving average is $28.78. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.99 and a quick ratio of 1.24. Perrigo Company plc has a 1-year low of $24.82 and a 1-year high of $34.60. The company has a market cap of $3.82 billion, a P/E ratio of -400.29 and a beta of 0.49.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company posted $0.63 earnings per share. The business’s quarterly revenue was down 10.7% on a year-over-year basis. Research analysts predict that Perrigo Company plc will post 2.57 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th were given a $0.276 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.10 annualized dividend and a yield of 3.94%. Perrigo’s dividend payout ratio is presently -1,571.43%.

Analyst Ratings Changes

Several analysts have recently commented on PRGO shares. Piper Sandler decreased their price objective on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Monday, August 5th.

Insider Activity at Perrigo

In related news, EVP Svend Andersen sold 28,300 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total value of $785,325.00. Following the completion of the sale, the executive vice president now owns 73,553 shares of the company’s stock, valued at approximately $2,041,095.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the transaction, the director now owns 6,009 shares of the company’s stock, valued at $164,045.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Svend Andersen sold 28,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total transaction of $785,325.00. Following the completion of the transaction, the executive vice president now owns 73,553 shares in the company, valued at $2,041,095.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,254 shares of company stock worth $1,411,969. 0.70% of the stock is owned by company insiders.

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.