State of New Jersey Common Pension Fund D Lowers Stock Position in Perrigo Company plc (NYSE:PRGO)

State of New Jersey Common Pension Fund D cut its position in shares of Perrigo Company plc (NYSE:PRGO) by 0.7% during the 3rd quarter, Holdings Channel reports. The firm owned 67,884 shares of the company’s stock after selling 493 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Perrigo were worth $1,781,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Beach Investment Counsel Inc. PA bought a new position in shares of Perrigo in the second quarter valued at approximately $72,000. 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 purchasing an additional 3,900 shares during the period. Atria Investments Inc purchased a new stake in shares of Perrigo during the 3rd quarter valued at $208,000. CWM LLC raised its stake in shares of Perrigo by 877.0% during the 2nd 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. Finally, Sanctuary Advisors LLC purchased a new position in shares of Perrigo in the 2nd quarter worth about $213,000. 95.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

PRGO has been the topic of several research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a research report on Monday, September 30th. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $30.00 target price (down from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Perrigo presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Perrigo Stock Up 0.3 %

Perrigo stock opened at $26.88 on Tuesday. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of -22.97 and a beta of 0.48. The firm has a 50 day simple moving average of $25.97 and a 200 day simple moving average of $27.21. Perrigo Company plc has a 1-year low of $23.89 and a 1-year high of $34.60. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94.

Perrigo (NYSE:PRGO) last issued its 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 during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the company earned $0.64 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. On average, analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be paid a $0.276 dividend. This represents a $1.10 annualized dividend and a yield of 4.11%. The ex-dividend date is Friday, November 29th. Perrigo’s dividend payout ratio is presently -94.02%.

Insider Buying and Selling at Perrigo

In other news, EVP Ronald Craig Janish sold 13,000 shares of Perrigo stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $29.40, for a total transaction of $382,200.00. Following the completion of the sale, the executive vice president now owns 20,553 shares in the company, valued at approximately $604,258.20. This trade represents a 38.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Katherine C. Doyle sold 8,954 shares of the company’s 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 completion of the transaction, the director now owns 6,009 shares in the company, valued at approximately $164,045.70. This trade represents a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.