The Manufacturers Life Insurance Company Sells 4,092 Shares of Perrigo Company plc (NYSE:PRGO)

The Manufacturers Life Insurance Company decreased its stake in shares of Perrigo Company plc (NYSE:PRGO) by 3.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 107,291 shares of the company’s stock after selling 4,092 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Perrigo were worth $2,814,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Venturi Wealth Management LLC bought a new position in Perrigo during the third quarter valued at about $56,000. KBC Group NV lifted its position in Perrigo by 25.1% in the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after purchasing an additional 905 shares during the period. Voisard Asset Management Group Inc. boosted its stake in Perrigo by 9.7% during the third quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock worth $134,000 after buying an additional 450 shares in the last quarter. Atria Investments Inc bought a new stake in Perrigo in the 3rd quarter valued at $208,000. Finally, CWM LLC raised its stake in shares of 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 buying an additional 7,358 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Stock Down 1.3 %

PRGO opened at $28.07 on Monday. Perrigo Company plc has a twelve month low of $23.89 and a twelve month high of $34.60. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -23.99 and a beta of 0.52. The firm’s 50-day simple moving average is $26.30 and its 200-day simple moving average is $26.97. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, hitting the consensus estimate of $0.81. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be given a $0.276 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.10 annualized dividend and a yield of 3.93%. Perrigo’s payout ratio is -94.02%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 target price (down from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $42.00 price objective on shares of Perrigo in a report on Monday, September 30th. Finally, StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Perrigo presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Insiders Place Their Bets

In other Perrigo 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 completion of the transaction, the director now directly owns 6,009 shares of the company’s stock, valued at approximately $164,045.70. The trade was a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Perrigo 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.