Perrigo Company plc (NYSE:PRGO) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its position in Perrigo Company plc (NYSE:PRGO) by 27.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,096 shares of the company’s stock after selling 10,874 shares during the quarter. Truist Financial Corp’s holdings in Perrigo were worth $747,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRGO. Central Pacific Bank Trust Division acquired a new position in shares of Perrigo in the first quarter valued at approximately $48,000. TFC Financial Management Inc. lifted its stake in shares of Perrigo by 39.7% during the 1st quarter. TFC Financial Management Inc. now owns 2,462 shares of the company’s stock worth $79,000 after purchasing an additional 700 shares during the period. Beach Investment Counsel Inc. PA purchased a new position in shares of Perrigo during the 2nd quarter worth $72,000. Voisard Asset Management Group Inc. boosted its holdings in shares of Perrigo by 520.0% during the second quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock worth $119,000 after purchasing an additional 3,900 shares during the last quarter. Finally, CWM LLC grew its position in shares of Perrigo by 877.0% in the second quarter. CWM LLC now owns 8,197 shares of the company’s stock valued at $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

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was 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 of the company’s stock, valued at $164,045.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Svend Andersen sold 28,300 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total value of $785,325.00. Following the transaction, the executive vice president now owns 73,553 shares of the company’s stock, valued at approximately $2,041,095.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,254 shares of company stock worth $1,411,969. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

PRGO has been the topic of a number of research analyst reports. Piper Sandler decreased their price target on Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Canaccord Genuity Group restated a “buy” rating and issued a $42.00 target price on shares of Perrigo in a report on Monday, September 30th. StockNews.com lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group reiterated 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Perrigo Price Performance

PRGO stock opened at $24.18 on Tuesday. The stock has a 50-day simple moving average of $27.06 and a 200-day simple moving average of $28.17. The firm has a market cap of $3.30 billion, a P/E ratio of -345.43 and a beta of 0.48. 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 1 year low of $23.89 and a 1 year high of $34.60.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. On average, equities analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th were issued a dividend of $0.276 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.10 annualized dividend and a yield of 4.57%. Perrigo’s dividend payout ratio is presently -1,571.43%.

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.