Perrigo Company plc (NYSE:PRGO) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning reduced its stake in Perrigo Company plc (NYSE:PRGO) by 34.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,061 shares of the company’s stock after selling 3,146 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Perrigo were worth $195,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in Perrigo in the fourth quarter valued at approximately $30,000. Parkside Financial Bank & Trust boosted its stake in Perrigo by 1,694.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company’s stock valued at $34,000 after acquiring an additional 983 shares during the period. Hexagon Capital Partners LLC acquired a new position in Perrigo in the fourth quarter valued at approximately $37,000. Blue Trust Inc. boosted its stake in Perrigo by 34.5% in the fourth quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock valued at $50,000 after acquiring an additional 399 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of Perrigo by 69.1% during the fourth quarter. Parallel Advisors LLC now owns 2,009 shares of the company’s stock worth $65,000 after buying an additional 821 shares during the period. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRGO has been the subject of several analyst reports. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research report on Wednesday, May 29th. Piper Sandler reduced their price objective on Perrigo from $39.00 to $36.00 and set an “overweight” rating for the company in a research report on Thursday, June 13th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 price objective on shares of Perrigo in a research report on Friday, April 12th.

Insider Buying and Selling at Perrigo

In related news, EVP Svend Andersen purchased 1,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were bought at an average price of $27.90 per share, with a total value of $27,900.00. Following the completion of the acquisition, the executive vice president now owns 101,853 shares of the company’s stock, valued at $2,841,698.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.40% of the stock is owned by corporate insiders.

Perrigo Trading Up 0.8 %

Shares of NYSE:PRGO opened at $26.20 on Thursday. Perrigo Company plc has a 12 month low of $24.82 and a 12 month high of $40.28. The stock’s 50 day moving average price is $28.51 and its 200 day moving average price is $30.41. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.81 and a quick ratio of 1.08.

Perrigo (NYSE:PRGO) last announced its earnings results on Saturday, May 4th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.23 by $0.06. Perrigo had a positive return on equity of 6.96% and a negative net margin of 0.17%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company earned $0.45 earnings per share. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Perrigo Company plc will post 2.58 EPS for the current fiscal year.

Perrigo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Friday, May 31st were issued a $0.276 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.10 annualized dividend and a dividend yield of 4.21%. Perrigo’s dividend payout ratio is currently -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.