Perrigo Company plc (NYSE:PRGO) Shares Sold by M&R Capital Management Inc.

M&R Capital Management Inc. trimmed its position in Perrigo Company plc (NYSE:PRGO) by 2.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 14,311 shares of the company’s stock after selling 416 shares during the period. M&R Capital Management Inc.’s holdings in Perrigo were worth $375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in Perrigo by 69.1% during the fourth quarter. Parallel Advisors LLC now owns 2,009 shares of the company’s stock valued at $65,000 after purchasing an additional 821 shares during the period. Peapack Gladstone Financial Corp purchased a new position in Perrigo during the fourth quarter valued at approximately $213,000. Public Employees Retirement Association of Colorado lifted its holdings in Perrigo by 3,796.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 582,216 shares of the company’s stock valued at $18,736,000 after acquiring an additional 567,274 shares during the period. Gabelli Funds LLC boosted its position in Perrigo by 3.2% in the 4th quarter. Gabelli Funds LLC now owns 425,000 shares of the company’s stock worth $13,676,000 after purchasing an additional 13,000 shares in the last quarter. Finally, Scholtz & Company LLC acquired a new stake in shares of Perrigo during the 4th quarter worth approximately $3,470,000. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Stock Down 1.5 %

NYSE PRGO opened at $25.07 on Thursday. The business has a fifty day moving average price of $27.65 and a 200 day moving average price of $28.56. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.99. The company has a market cap of $3.42 billion, a P/E ratio of -358.14 and a beta of 0.49. Perrigo Company plc has a one year low of $24.82 and a one year high of $34.60.

Perrigo (NYSE:PRGO) last announced 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. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.13 billion. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The business’s revenue was down 10.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 EPS. Research analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were issued a $0.276 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.10 annualized dividend and a yield of 4.40%. Perrigo’s dividend payout ratio (DPR) is presently -1,571.43%.

Insiders Place Their Bets

In other news, Director Katherine C. Doyle sold 8,954 shares of Perrigo stock in a transaction on Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the sale, the director now directly owns 6,009 shares of the company’s stock, valued at $164,045.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Perrigo news, EVP Ronald Craig Janish sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $29.40, for a total value of $382,200.00. Following the completion of the transaction, the executive vice president now owns 20,553 shares of the company’s stock, valued at approximately $604,258.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Katherine C. Doyle sold 8,954 shares of the company’s stock in a transaction on Friday, September 13th. The stock was 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 disclosure for this sale can be found here. Insiders have sold 50,254 shares of company stock worth $1,411,969 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on PRGO shares. Piper Sandler lowered their price target on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. StockNews.com lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Canaccord Genuity Group restated a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research note on Monday. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $30.00 price target (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.00.

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.