Perrigo Company plc (NYSE:PRGO) Shares Sold by Factorial Partners LLC

Factorial Partners LLC lowered its position in Perrigo Company plc (NYSE:PRGO) by 61.5% in the third quarter, HoldingsChannel reports. The firm owned 20,000 shares of the company’s stock after selling 32,000 shares during the period. Factorial Partners LLC’s holdings in Perrigo were worth $525,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Venturi Wealth Management LLC acquired a new position in Perrigo in the third quarter valued at about $56,000. Beach Investment Counsel Inc. PA acquired a new position in shares of Perrigo in the 2nd quarter worth approximately $72,000. KBC Group NV boosted its position in shares of Perrigo by 25.1% during the 3rd 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 period. Voisard Asset Management Group Inc. raised its position in Perrigo by 520.0% in the second quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock valued at $119,000 after purchasing an additional 3,900 shares during the period. Finally, Atria Investments Inc acquired a new position in Perrigo during the third quarter worth $208,000. Institutional investors and hedge funds own 95.91% of the company’s stock.

Insiders Place Their Bets

In other news, Director Katherine C. Doyle sold 8,954 shares of Perrigo stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $27.30, for a total transaction of $244,444.20. Following the completion of the sale, the director now directly owns 6,009 shares in the company, valued at approximately $164,045.70. This trade represents a 59.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ronald Craig Janish sold 13,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $29.40, for a total value of $382,200.00. Following the completion of the sale, the executive vice president now directly owns 20,553 shares in the company, valued at $604,258.20. This trade represents a 38.74 % decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PRGO has been the subject of several research reports. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group restated a “hold” rating and issued a $30.00 target price (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research report on Monday, September 30th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Perrigo Stock Performance

Shares of PRGO opened at $27.24 on Wednesday. The company’s 50 day simple moving average is $25.97 and its 200-day simple moving average is $27.17. Perrigo Company plc has a 12-month low of $23.89 and a 12-month high of $34.60. The firm has a market cap of $3.72 billion, a PE ratio of -23.28 and a beta of 0.48. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, meeting analysts’ consensus estimates of $0.81. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business posted $0.64 earnings per share. Perrigo’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, equities analysts predict that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be paid a $0.276 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.10 annualized dividend and a yield of 4.05%. Perrigo’s dividend payout ratio is currently -94.02%.

Perrigo Company 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.