75,328 Shares in Perrigo Company plc (NYSE:PRGO) Purchased by Invenomic Capital Management LP

Invenomic Capital Management LP purchased a new position in shares of Perrigo Company plc (NYSE:PRGO) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 75,328 shares of the company’s stock, valued at approximately $2,425,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PRGO. NBC Securities Inc. lifted its position in Perrigo by 3.5% in the fourth quarter. NBC Securities Inc. now owns 9,983 shares of the company’s stock valued at $321,000 after purchasing an additional 340 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its position in Perrigo by 4.1% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 9,627 shares of the company’s stock valued at $310,000 after purchasing an additional 380 shares during the period. Fifth Third Bancorp lifted its position in Perrigo by 23.8% in the first quarter. Fifth Third Bancorp now owns 2,071 shares of the company’s stock valued at $67,000 after purchasing an additional 398 shares during the period. Blue Trust Inc. lifted its position in shares of Perrigo by 34.5% during the 4th quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock valued at $50,000 after acquiring an additional 399 shares during the period. Finally, Xponance Inc. lifted its position in shares of Perrigo by 2.1% during the 4th quarter. Xponance Inc. now owns 20,153 shares of the company’s stock valued at $649,000 after acquiring an additional 410 shares during the period. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PRGO. Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 price target on shares of Perrigo in a research report on Friday, April 12th. StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Piper Sandler dropped their price objective on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th.

Insider Activity

In other news, EVP Svend Andersen bought 1,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was purchased at an average price of $27.90 per share, for a total transaction of $27,900.00. Following the transaction, the executive vice president now owns 101,853 shares in the company, valued at $2,841,698.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Perrigo Stock Down 0.1 %

Shares of NYSE:PRGO traded down $0.03 during midday trading on Wednesday, hitting $28.26. 347,323 shares of the company’s stock traded hands, compared to its average volume of 1,702,120. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.08 and a current ratio of 1.81. The company has a market cap of $3.85 billion, a PE ratio of -399.00 and a beta of 0.51. The firm’s fifty day moving average price is $27.02 and its two-hundred day moving average price is $29.73. Perrigo Company plc has a twelve month low of $24.82 and a twelve month high of $40.28.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Saturday, May 4th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. Perrigo had a negative net margin of 0.17% and a positive return on equity of 6.96%. The firm’s revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 EPS. On average, equities research analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

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.