Strategic Wealth Partners Ltd. Lowers Position in Perrigo Company plc (NYSE:PRGO)

Strategic Wealth Partners Ltd. trimmed its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 93.2% in the first quarter, HoldingsChannel.com reports. The fund owned 9,132 shares of the company’s stock after selling 126,080 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Perrigo were worth $294,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of PRGO. GAMMA Investing LLC purchased a new stake in Perrigo in the fourth quarter worth $30,000. Parkside Financial Bank & Trust boosted its holdings in shares of Perrigo by 1,694.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company’s stock worth $34,000 after acquiring an additional 983 shares during the period. Hexagon Capital Partners LLC bought a new position in shares of Perrigo in the fourth quarter worth $37,000. Central Pacific Bank Trust Division bought a new position in shares of Perrigo in the first quarter worth $48,000. Finally, Blue Trust Inc. boosted its holdings in shares of Perrigo by 34.5% in the fourth quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock worth $50,000 after acquiring an additional 399 shares during the period. 95.91% of the stock is owned by hedge funds and other institutional investors.

Perrigo Price Performance

NYSE:PRGO traded down $0.62 during trading hours on Friday, hitting $27.56. 3,935,337 shares of the company’s stock traded hands, compared to its average volume of 1,734,045. The firm has a market cap of $3.76 billion, a P/E ratio of -393.71 and a beta of 0.51. Perrigo Company plc has a 52 week low of $24.82 and a 52 week high of $40.28. The business’s fifty day simple moving average is $26.99 and its two-hundred day simple moving average is $29.67. The company has a quick ratio of 1.08, a current ratio of 1.81 and a debt-to-equity ratio of 0.77.

Perrigo (NYSE:PRGO) last released 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. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.13 billion. Perrigo had a positive return on equity of 6.96% and a negative net margin of 0.17%. The company’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same quarter last year, the business posted $0.63 earnings per share. On average, research analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insider Activity at Perrigo

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

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.