M&R Capital Management Inc. Sells 416 Shares of Perrigo Company plc (NYSE:PRGO)

M&R Capital Management Inc. lowered its stake in shares of Perrigo Company plc (NYSE:PRGO) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 14,311 shares of the company’s stock after selling 416 shares during the quarter. M&R Capital Management Inc.’s holdings in Perrigo were worth $375,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PRGO. Central Pacific Bank Trust Division purchased a new position in shares of Perrigo during the first quarter valued at approximately $48,000. Parallel Advisors LLC boosted its holdings in Perrigo by 69.1% during the 4th quarter. Parallel Advisors LLC now owns 2,009 shares of the company’s stock valued at $65,000 after acquiring an additional 821 shares during the period. Beach Investment Counsel Inc. PA bought a new position in Perrigo in the 2nd quarter valued at $72,000. TFC Financial Management Inc. increased its stake in Perrigo by 39.7% in the first 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. Finally, Voisard Asset Management Group Inc. lifted its position 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. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PRGO shares. Piper Sandler decreased their price objective on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Jefferies Financial Group reaffirmed 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. StockNews.com lowered Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $42.00 price objective on shares of Perrigo in a report on Monday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Perrigo Trading Down 1.5 %

NYSE PRGO opened at $25.07 on Thursday. Perrigo Company plc has a one year low of $24.82 and a one year high of $34.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.99. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of -358.14 and a beta of 0.49. The company’s 50-day simple moving average is $27.65 and its two-hundred day simple moving average is $28.56.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Perrigo’s revenue was down 10.7% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share. Equities analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were given a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend was Friday, August 30th. Perrigo’s payout ratio is currently -1,571.43%.

Insider Buying and Selling at Perrigo

In other news, EVP Ronald Craig Janish sold 13,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $29.40, for a total value of $382,200.00. Following the sale, the executive vice president now directly owns 20,553 shares in the company, valued at approximately $604,258.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Perrigo news, EVP Svend Andersen sold 28,300 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total value of $785,325.00. Following the completion of the sale, the executive vice president now directly owns 73,553 shares in the company, valued at $2,041,095.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ronald Craig Janish sold 13,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the completion of the sale, the executive vice president now directly owns 20,553 shares of the company’s stock, valued at approximately $604,258.20. The disclosure for this sale can be found here. Insiders have sold 50,254 shares of company stock worth $1,411,969 over the last quarter. Insiders own 0.70% of the company’s stock.

About Perrigo

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.