Cedar Wealth Management LLC Has $564,000 Stock Position in Perrigo Company plc (NYSE:PRGO)

Cedar Wealth Management LLC cut its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 14.9% during the third quarter, HoldingsChannel.com reports. The firm owned 21,516 shares of the company’s stock after selling 3,765 shares during the quarter. Cedar Wealth Management LLC’s holdings in Perrigo were worth $564,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Voisard Asset Management Group Inc. lifted its holdings in Perrigo by 9.7% in the third quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock valued at $134,000 after buying an additional 450 shares during the period. Creative Planning lifted its stake in shares of Perrigo by 3.7% in the 3rd quarter. Creative Planning now owns 18,477 shares of the company’s stock valued at $485,000 after purchasing an additional 661 shares during the period. Arizona State Retirement System boosted its position in shares of Perrigo by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 37,939 shares of the company’s stock worth $974,000 after purchasing an additional 699 shares during the last quarter. KBC Group NV grew its stake in shares of Perrigo by 25.1% during the third 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Perrigo by 3.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,083 shares of the company’s stock valued at $747,000 after purchasing an additional 923 shares during the last quarter. Institutional investors own 95.91% of the company’s stock.

Analyst Upgrades and Downgrades

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

Perrigo Price Performance

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

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, hitting the consensus estimate of $0.81. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 EPS. Equities 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 announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.276 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.10 annualized dividend and a dividend yield of 4.05%. Perrigo’s dividend payout ratio is currently -94.02%.

Insider Buying and Selling at Perrigo

In related news, EVP Ronald Craig Janish sold 13,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $29.40, for a total transaction of $382,200.00. Following the transaction, the executive vice president now directly owns 20,553 shares of the company’s stock, valued at approximately $604,258.20. This trade represents a 38.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the director now owns 6,009 shares in the company, valued at approximately $164,045.70. This trade represents a 59.84 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

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.