Perrigo Company plc (NYSE:PRGO) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in Perrigo Company plc (NYSE:PRGO) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 111,383 shares of the company’s stock after selling 1,473 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of Perrigo worth $2,860,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. M&R Capital Management Inc. raised its stake in Perrigo by 3.0% during the first quarter. M&R Capital Management Inc. now owns 14,717 shares of the company’s stock valued at $474,000 after buying an additional 434 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Perrigo by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 170,162 shares of the company’s stock valued at $5,478,000 after acquiring an additional 447 shares in the last quarter. Ridgewood Investments LLC lifted its stake in Perrigo by 1.3% during the first quarter. Ridgewood Investments LLC now owns 35,140 shares of the company’s stock worth $1,131,000 after purchasing an additional 451 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in Perrigo by 4.3% in the first quarter. Park Avenue Securities LLC now owns 11,330 shares of the company’s stock worth $365,000 after purchasing an additional 465 shares during the period. Finally, Arizona State Retirement System increased its stake in Perrigo by 1.9% during the second quarter. Arizona State Retirement System now owns 37,939 shares of the company’s stock valued at $974,000 after purchasing an additional 699 shares during the last quarter. Institutional investors own 95.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 price target on shares of Perrigo in a report on Monday, September 30th. Piper Sandler cut their target price on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 price target (down from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. Finally, StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Perrigo Price Performance

NYSE PRGO opened at $24.46 on Wednesday. The company has a 50-day moving average price of $27.37 and a two-hundred day moving average price of $28.37. Perrigo Company plc has a 52 week low of $24.13 and a 52 week high of $34.60. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of -349.43 and a beta of 0.48. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 0.80.

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, topping analysts’ consensus estimates of $0.46 by $0.07. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.13 billion. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The business’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 EPS. Analysts forecast that Perrigo Company plc will post 2.56 EPS for the current 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 issued a $0.276 dividend. This represents a $1.10 annualized dividend and a yield of 4.51%. The ex-dividend date 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 business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $27.30, for a total transaction of $244,444.20. Following the sale, the director now directly owns 6,009 shares in the company, valued at approximately $164,045.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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 transaction, the executive vice president now directly owns 20,553 shares of the company’s stock, valued at $604,258.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Katherine C. Doyle sold 8,954 shares of the business’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 sale, the director now owns 6,009 shares in the company, valued at $164,045.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,254 shares of company stock worth $1,411,969 in the last 90 days. Corporate 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.