Perrigo Company plc (NYSE:PRGO) Shares Sold by Ionic Capital Management LLC

Ionic Capital Management LLC trimmed its position in shares of Perrigo Company plc (NYSE:PRGO) by 15.2% during the third quarter, HoldingsChannel reports. The firm owned 336,784 shares of the company’s stock after selling 60,500 shares during the quarter. Perrigo comprises 1.5% of Ionic Capital Management LLC’s portfolio, making the stock its 2nd largest holding. Ionic Capital Management LLC’s holdings in Perrigo were worth $8,834,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRGO. Dimensional Fund Advisors LP raised its holdings in Perrigo by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,162,656 shares of the company’s stock valued at $183,935,000 after buying an additional 249,640 shares during the last quarter. Deprince Race & Zollo Inc. boosted its stake in Perrigo by 11.2% in the second quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company’s stock worth $99,701,000 after buying an additional 391,646 shares in the last quarter. Cooke & Bieler LP raised its holdings in shares of Perrigo by 0.9% during the second quarter. Cooke & Bieler LP now owns 3,501,401 shares of the company’s stock valued at $89,916,000 after acquiring an additional 30,150 shares in the last quarter. Copeland Capital Management LLC raised its holdings in Perrigo by 23.1% in the third quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company’s stock worth $65,117,000 after purchasing an additional 465,161 shares in the last quarter. Finally, Sound Shore Management Inc. CT boosted its position in shares of Perrigo by 5.2% during the second quarter. Sound Shore Management Inc. CT now owns 2,391,049 shares of the company’s stock valued at $61,402,000 after buying an additional 117,230 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Perrigo

In related news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction 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 directly owns 6,009 shares of the company’s stock, valued at $164,045.70. This trade represents a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.40% of the company’s stock.

Perrigo Stock Down 0.1 %

PRGO opened at $28.50 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The stock’s fifty day moving average is $26.06 and its two-hundred day moving average is $27.01. Perrigo Company plc has a 52 week low of $23.89 and a 52 week high of $34.60.

Perrigo (NYSE:PRGO) last released its quarterly 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 the consensus estimate 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 was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. As a group, analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be paid a $0.276 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.87%. Perrigo’s dividend payout ratio (DPR) is presently -94.02%.

Wall Street Analyst Weigh In

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

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.