Intech Investment Management LLC Sells 6,892 Shares of Perrigo Company plc (NYSE:PRGO)

Intech Investment Management LLC decreased its position in shares of Perrigo Company plc (NYSE:PRGO) by 38.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,984 shares of the company’s stock after selling 6,892 shares during the period. Intech Investment Management LLC’s holdings in Perrigo were worth $288,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Diamond Hill Capital Management Inc. grew its holdings in shares of Perrigo by 83.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,940,067 shares of the company’s stock worth $49,821,000 after purchasing an additional 881,191 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Perrigo by 675.5% in the second quarter. AQR Capital Management LLC now owns 970,637 shares of the company’s stock worth $24,926,000 after purchasing an additional 845,470 shares during the last quarter. Copeland Capital Management LLC grew its holdings in shares of Perrigo by 23.1% in the third quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company’s stock worth $65,117,000 after purchasing an additional 465,161 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of Perrigo by 11.2% in the second quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company’s stock worth $99,701,000 after purchasing an additional 391,646 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Perrigo by 58.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,039,702 shares of the company’s stock worth $27,271,000 after purchasing an additional 383,728 shares during the last quarter. Institutional investors own 95.91% of the company’s stock.

Insider Activity at Perrigo

In related news, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the transaction, the director now directly owns 6,009 shares of the company’s stock, valued at $164,045.70. This trade represents a 59.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by insiders.

Perrigo Stock Performance

PRGO stock opened at $28.91 on Thursday. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -24.71 and a beta of 0.52. The firm has a 50-day simple moving average of $26.12 and a two-hundred day simple moving average of $26.99. Perrigo Company plc has a one year low of $23.89 and a one year high of $34.60. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, meeting the consensus estimate of $0.81. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.12 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share. On average, 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 will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be given a $0.276 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Friday, November 29th. Perrigo’s payout ratio is currently -94.02%.

Analyst Ratings Changes

PRGO has been the topic of several recent research reports. Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 target price on shares of Perrigo in a report on Monday, September 30th. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 target price (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Finally, StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Perrigo currently has an average rating of “Moderate Buy” and an average price target of $37.00.

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.