Perrigo Company plc (NYSE:PRGO) Stake Lowered by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado trimmed its position in shares of Perrigo Company plc (NYSE:PRGO) by 0.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 577,368 shares of the company’s stock after selling 1,574 shares during the period. Public Employees Retirement Association of Colorado owned about 0.42% of Perrigo worth $14,827,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PRGO. M&R Capital Management Inc. raised its stake in shares of Perrigo by 3.0% during the 1st quarter. M&R Capital Management Inc. now owns 14,717 shares of the company’s stock worth $474,000 after purchasing an additional 434 shares in the last quarter. Retirement Systems of Alabama raised its position in Perrigo by 0.3% during the first 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% in the first quarter. Ridgewood Investments LLC now owns 35,140 shares of the company’s stock valued at $1,131,000 after acquiring an additional 451 shares during the last quarter. Park Avenue Securities LLC grew its position 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 acquiring an additional 465 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Perrigo by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 37,939 shares of the company’s stock worth $974,000 after purchasing an additional 699 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Price Performance

Shares of Perrigo stock opened at $27.13 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 0.80. The firm has a fifty day simple moving average of $27.93 and a 200-day simple moving average of $28.78. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of -387.57 and a beta of 0.49. Perrigo Company plc has a 1-year low of $24.82 and a 1-year high of $34.60.

Perrigo (NYSE:PRGO) last released its earnings results on Friday, August 2nd. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. The firm had revenue of $1.07 billion during 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%. The business’s revenue was down 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. On average, sell-side analysts expect that Perrigo Company plc will post 2.57 earnings per share for the current year.

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th were issued 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 dividend payout ratio (DPR) is currently -1,571.43%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PRGO shares. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Piper Sandler decreased their price target on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th.

Insiders Place Their Bets

In other news, EVP Svend Andersen sold 28,300 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $2,041,095.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the company’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 value of $244,444.20. Following the completion of the transaction, the director now owns 6,009 shares of the company’s stock, valued at approximately $164,045.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Svend Andersen sold 28,300 shares of Perrigo stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total value 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 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.

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.