Perrigo Company plc (NYSE:PRGO) Stake Cut by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its holdings in Perrigo Company plc (NYSE:PRGO) by 10.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,152 shares of the company’s stock after selling 7,328 shares during the period. Janney Montgomery Scott LLC’s holdings in Perrigo were worth $1,709,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PRGO. Swiss National Bank lifted its holdings in shares of Perrigo by 0.3% during the 1st quarter. Swiss National Bank now owns 267,600 shares of the company’s stock valued at $8,614,000 after buying an additional 800 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Perrigo by 2.8% during the 1st quarter. Sei Investments Co. now owns 254,088 shares of the company’s stock valued at $8,179,000 after buying an additional 6,925 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Perrigo by 6.7% during the 1st quarter. Russell Investments Group Ltd. now owns 807,147 shares of the company’s stock valued at $25,982,000 after buying an additional 50,871 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Perrigo by 14.3% during the 1st quarter. US Bancorp DE now owns 16,636 shares of the company’s stock valued at $536,000 after buying an additional 2,085 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Perrigo by 2.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 141,588 shares of the company’s stock valued at $4,558,000 after buying an additional 3,218 shares during the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Svend Andersen sold 28,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total transaction of $785,325.00. Following the sale, the executive vice president now directly owns 73,553 shares in the company, valued at approximately $2,041,095.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the sale, the director now directly owns 6,009 shares in the company, valued at $164,045.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Svend Andersen sold 28,300 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were 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 owns 73,553 shares in the company, valued at $2,041,095.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,254 shares of company stock valued at $1,411,969 in the last three months. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 price target (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $42.00 target price on shares of Perrigo in a report on Monday, September 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Perrigo Stock Performance

Shares of NYSE PRGO opened at $26.80 on Thursday. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average is $26.01 and its two-hundred day moving average is $27.37. The company has a market cap of $3.66 billion, a P/E ratio of -22.91 and a beta of 0.48. Perrigo Company plc has a 12 month low of $23.89 and a 12 month high of $34.60.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, hitting the consensus estimate of $0.81. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. On average, equities analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be given a $0.276 dividend. This represents a $1.10 annualized dividend and a yield of 4.12%. The ex-dividend date is Friday, November 29th. Perrigo’s dividend payout ratio is currently -94.02%.

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.