Handelsbanken Fonder AB Grows Position in Perrigo Company plc (NYSE:PRGO)

Handelsbanken Fonder AB raised its stake in Perrigo Company plc (NYSE:PRGO) by 26.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,000 shares of the company’s stock after purchasing an additional 7,800 shares during the period. Handelsbanken Fonder AB’s holdings in Perrigo were worth $971,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division acquired a new stake in shares of Perrigo in the first quarter valued at approximately $48,000. Beach Investment Counsel Inc. PA acquired a new stake in shares of Perrigo in the second quarter valued at approximately $72,000. TFC Financial Management Inc. boosted 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 valued at $79,000 after acquiring an additional 700 shares during the period. Voisard Asset Management Group Inc. boosted its holdings in shares of Perrigo by 520.0% in the second 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. Finally, CWM LLC lifted its holdings in shares of Perrigo by 877.0% during the second quarter. CWM LLC now owns 8,197 shares of the company’s stock worth $210,000 after purchasing an additional 7,358 shares during the period. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Perrigo

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of Perrigo stock in a transaction that occurred on Friday, September 13th. The shares were 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 in the company, valued at $164,045.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Ronald Craig Janish sold 13,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $29.40, for a total transaction of $382,200.00. Following the transaction, the executive vice president now owns 20,553 shares in the company, valued at $604,258.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $244,444.20. Following the transaction, the director now owns 6,009 shares in the company, valued at approximately $164,045.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,254 shares of company stock worth $1,411,969 over the last ninety days. 0.70% of the stock is currently owned by insiders.

Perrigo Stock Performance

Perrigo stock opened at $24.37 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.99. Perrigo Company plc has a one year low of $23.89 and a one year high of $34.60. The stock’s 50 day moving average price is $27.15 and its 200 day moving average price is $28.25. The firm has a market capitalization of $3.32 billion, a PE ratio of -26.49 and a beta of 0.48.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.53 earnings per share for the quarter, beating 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 positive return on equity of 6.79% and a negative net margin of 2.81%. The business’s quarterly revenue was down 10.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 EPS. As a group, sell-side analysts expect that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were issued a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend was Friday, August 30th. Perrigo’s dividend payout ratio is currently -119.57%.

Wall Street Analysts Forecast Growth

PRGO has been the subject of several recent research reports. Piper Sandler decreased their price target on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Jefferies Financial Group reissued a “hold” rating and issued a $30.00 target price (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 target price on shares of Perrigo in a report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Perrigo presently has an average rating of “Moderate Buy” and an average target price 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.