Intech Investment Management LLC Trims Position in Perrigo Company plc (NYSE:PRGO)

Intech Investment Management LLC cut its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 38.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,984 shares of the company’s stock after selling 6,892 shares during the quarter. Intech Investment Management LLC’s holdings in Perrigo were worth $288,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC acquired a new stake in shares of Perrigo during the 3rd quarter worth approximately $56,000. KBC Group NV grew its stake in Perrigo by 25.1% in the 3rd quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after acquiring an additional 905 shares during the period. Voisard Asset Management Group Inc. grew its stake in Perrigo by 520.0% in the 2nd quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock valued at $119,000 after acquiring an additional 3,900 shares during the period. Atria Investments Inc acquired a new stake in Perrigo in the 3rd quarter valued at $208,000. Finally, CWM LLC grew its stake in Perrigo by 877.0% in the 2nd quarter. CWM LLC now owns 8,197 shares of the company’s stock valued at $210,000 after acquiring an additional 7,358 shares during the period. 95.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PRGO. Jefferies Financial Group reissued a “hold” rating and issued a $30.00 price target (down previously from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research note on Monday, September 30th. Finally, StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Perrigo has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Perrigo Trading Up 1.7 %

Shares of PRGO stock opened at $28.91 on Thursday. The stock’s fifty day moving average is $26.12 and its two-hundred day moving average is $26.99. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The firm has a market capitalization of $3.94 billion, a P/E ratio of -24.71 and a beta of 0.52. Perrigo Company plc has a fifty-two week low of $23.89 and a fifty-two week high of $34.60.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. Research analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.276 per share. The ex-dividend date is Friday, November 29th. This represents a $1.10 annualized dividend and a dividend yield of 3.82%. Perrigo’s dividend payout ratio is presently -94.02%.

Insider Activity at Perrigo

In related news, Director Katherine C. Doyle sold 8,954 shares of the business’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 sale, the director now directly owns 6,009 shares in the company, valued at approximately $164,045.70. The trade was a 59.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is owned by insiders.

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.