Prudential Financial Inc. lessened its stake in Perrigo Company plc (NYSE:PRGO – Get Rating) by 32.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,558 shares of the company's stock after selling 64,079 shares during the period. Prudential Financial Inc. owned 0.10% of Perrigo worth $4,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC acquired a new stake in Perrigo in the second quarter worth about $32,000. Private Trust Co. NA boosted its holdings in Perrigo by 228.5% in the third quarter. Private Trust Co. NA now owns 910 shares of the company's stock worth $32,000 after acquiring an additional 633 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new stake in Perrigo in the third quarter worth about $34,000. CWM LLC boosted its holdings in Perrigo by 315.2% in the third quarter. CWM LLC now owns 1,009 shares of the company's stock worth $36,000 after acquiring an additional 766 shares in the last quarter. Finally, Washington Trust Advisors Inc. acquired a new stake in Perrigo in the second quarter worth about $39,000. Hedge funds and other institutional investors own 94.09% of the company's stock.
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Insider Buying and Selling at Perrigo
In other Perrigo news, EVP Grainne Quinn sold 2,368 shares of the business's stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $31.65, for a total value of $74,947.20. Following the completion of the transaction, the executive vice president now directly owns 9,118 shares of the company's stock, valued at $288,584.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several brokerages have weighed in on PRGO. StockNews.com began coverage on Perrigo in a report on Wednesday, October 12th. They issued a "hold" rating for the company. Raymond James decreased their target price on Perrigo from $48.00 to $42.00 and set an "outperform" rating for the company in a report on Wednesday, November 9th.
Perrigo Trading Down 1.8 %
Perrigo stock opened at $37.05 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.55 and a debt-to-equity ratio of 0.89. Perrigo Company plc has a 52 week low of $30.78 and a 52 week high of $43.90. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of -58.81 and a beta of 0.81. The stock has a 50-day moving average price of $34.29 and a 200 day moving average price of $37.20.
Perrigo (NYSE:PRGO – Get Rating) last released its earnings results on Tuesday, November 8th. The company reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.10). Perrigo had a positive return on equity of 5.31% and a negative net margin of 1.93%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm earned $0.45 EPS. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts anticipate that Perrigo Company plc will post 2.02 EPS for the current year.
Perrigo Profile
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Perrigo Co Plc engages in the provision of self-care products and over-the-counter (OTC) health and wellness solutions. It enhances individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. It operates through the following segments: Consumer Self-Care Americas (CSCA) and Consumer Self-Care International (CSCI).
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