Perrigo Company plc (NYSE:PRGO) Shares Sold by Strategic Wealth Partners Ltd.

Strategic Wealth Partners Ltd. cut its stake in shares of Perrigo Company plc (NYSE:PRGO) by 93.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,132 shares of the company’s stock after selling 126,080 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Perrigo were worth $294,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. NBC Securities Inc. lifted its holdings in shares of Perrigo by 3.5% during the fourth quarter. NBC Securities Inc. now owns 9,983 shares of the company’s stock worth $321,000 after purchasing an additional 340 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Perrigo by 23.8% during the first quarter. Fifth Third Bancorp now owns 2,071 shares of the company’s stock worth $67,000 after purchasing an additional 398 shares during the period. Blue Trust Inc. lifted its holdings in shares of Perrigo by 34.5% during the fourth quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock worth $50,000 after purchasing an additional 399 shares during the period. Xponance Inc. lifted its holdings in Perrigo by 2.1% in the fourth quarter. Xponance Inc. now owns 20,153 shares of the company’s stock valued at $649,000 after acquiring an additional 410 shares during the period. Finally, M&R Capital Management Inc. lifted its holdings in Perrigo by 3.0% in the first quarter. M&R Capital Management Inc. now owns 14,717 shares of the company’s stock valued at $474,000 after acquiring an additional 434 shares during the period. 95.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Perrigo news, EVP Svend Andersen purchased 1,000 shares of Perrigo stock in a transaction on Tuesday, May 28th. The stock was bought at an average price of $27.90 per share, for a total transaction of $27,900.00. Following the transaction, the executive vice president now owns 101,853 shares of the company’s stock, valued at approximately $2,841,698.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PRGO. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 target price on shares of Perrigo in a report on Friday, April 12th. StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Piper Sandler dropped their price target on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th.

Perrigo Stock Performance

Shares of NYSE PRGO traded down $0.62 during trading on Friday, reaching $27.56. The stock had a trading volume of 3,935,337 shares, compared to its average volume of 1,734,045. Perrigo Company plc has a one year low of $24.82 and a one year high of $40.28. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.08 and a current ratio of 1.81. The stock has a market cap of $3.76 billion, a PE ratio of -393.71 and a beta of 0.51. The firm’s 50 day moving average price is $26.99 and its two-hundred day moving average price is $29.67.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. Perrigo had a positive return on equity of 6.96% and a negative net margin of 0.17%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned $0.63 EPS. The business’s quarterly revenue was down 10.7% on a year-over-year basis. On average, research analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Friday, August 30th will be paid a dividend of $0.276 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.10 dividend on an annualized basis and a yield of 4.01%. Perrigo’s payout ratio is currently -1,571.43%.

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.