Lombard Odier Asset Management USA Corp Decreases Stock Position in Perrigo Company plc (NYSE:PRGO)

Lombard Odier Asset Management USA Corp cut its stake in Perrigo Company plc (NYSE:PRGO) by 15.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,039 shares of the company’s stock after selling 25,500 shares during the period. Perrigo comprises about 0.3% of Lombard Odier Asset Management USA Corp’s holdings, making the stock its 28th largest holding. Lombard Odier Asset Management USA Corp owned about 0.10% of Perrigo worth $3,648,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC increased its position in shares of Perrigo by 71.7% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 12,001 shares of the company’s stock worth $386,000 after purchasing an additional 5,012 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Perrigo by 189.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 41,473 shares of the company’s stock valued at $1,335,000 after acquiring an additional 27,158 shares during the period. Norges Bank acquired a new position in Perrigo in the 4th quarter valued at about $41,982,000. TCW Group Inc. increased its position in Perrigo by 14.1% in the 4th quarter. TCW Group Inc. now owns 64,051 shares of the company’s stock valued at $2,061,000 after acquiring an additional 7,900 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Perrigo in the 4th quarter valued at about $364,000. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PRGO shares. Piper Sandler dropped their target price on Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research report on Monday, August 5th.

Perrigo Price Performance

Shares of NYSE:PRGO opened at $27.13 on Monday. The business’s 50 day simple moving average is $27.92 and its 200-day simple moving average is $28.81. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of -387.57 and a beta of 0.49. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.99 and a quick ratio of 1.24. Perrigo Company plc has a 12 month low of $24.82 and a 12 month high of $34.60.

Perrigo (NYSE:PRGO) last posted its earnings results 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. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the company earned $0.63 EPS. Perrigo’s revenue was down 10.7% on a year-over-year basis. As a group, equities analysts forecast that Perrigo Company plc will post 2.57 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were paid a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend was Friday, August 30th. Perrigo’s payout ratio is currently -1,571.43%.

Insider Activity at Perrigo

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction 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 approximately $164,045.70. The sale 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 the stock in a transaction 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 approximately $164,045.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ronald Craig Janish sold 13,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the transaction, the executive vice president now directly owns 20,553 shares in the company, valued at approximately $604,258.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,254 shares of company stock valued at $1,411,969. 0.70% of the stock is owned by corporate insiders.

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.