Perrigo Company plc (NYSE:PRGO) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its position in shares of Perrigo Company plc (NYSE:PRGO) by 36.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,264 shares of the company’s stock after selling 7,056 shares during the quarter. HighTower Advisors LLC’s holdings in Perrigo were worth $318,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC bought a new position in Perrigo during the third quarter valued at about $56,000. KBC Group NV boosted its holdings in Perrigo by 25.1% during the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after purchasing an additional 905 shares during the last quarter. Voisard Asset Management Group Inc. grew its position in shares of Perrigo by 9.7% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock valued at $134,000 after acquiring an additional 450 shares during the period. Atria Investments Inc bought a new stake in shares of Perrigo during the 3rd quarter worth about $208,000. Finally, Sanctuary Advisors LLC acquired a new stake in Perrigo in the 2nd quarter worth about $213,000. Institutional investors and hedge funds own 95.91% of the company’s stock.

Insider Transactions at Perrigo

In related news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo stock in a transaction on Monday, December 9th. The shares were sold at an average price of $28.27, for a total value of $497,495.46. Following the sale, the director now owns 5,409 shares in the company, valued at $152,912.43. The trade was a 76.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on PRGO. Jefferies Financial Group reissued a “hold” rating and issued a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a research note on Monday, September 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Perrigo presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Perrigo Price Performance

Shares of NYSE:PRGO opened at $25.66 on Tuesday. The company’s 50-day moving average is $26.69 and its 200 day moving average is $26.92. Perrigo Company plc has a fifty-two week low of $23.89 and a fifty-two week high of $34.60. The company has a market capitalization of $3.50 billion, a P/E ratio of -21.93 and a beta of 0.52. 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 issued its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 EPS. On average, equities research analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th were given a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend was Friday, November 29th. Perrigo’s payout ratio is -94.02%.

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.