Y Intercept Hong Kong Ltd Decreases Stake in Perrigo Company plc (NYSE:PRGO)

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 83.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,791 shares of the company’s stock after selling 100,727 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Perrigo were worth $519,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Venturi Wealth Management LLC acquired a new position in Perrigo during the 3rd quarter worth $56,000. KBC Group NV lifted its position 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 last quarter. Voisard Asset Management Group Inc. grew its stake in Perrigo by 9.7% in the third quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock worth $134,000 after purchasing an additional 450 shares in the last quarter. Atria Investments Inc bought a new stake in Perrigo in the third quarter valued at about $208,000. Finally, Sanctuary Advisors LLC acquired a new stake in Perrigo during the second quarter valued at approximately $213,000. Institutional investors and hedge funds own 95.91% of the company’s stock.

Insider Buying and Selling

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $28.27, for a total transaction of $497,495.46. Following the completion of the transaction, the director now owns 5,409 shares in the company, valued at approximately $152,912.43. The trade was a 76.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

Perrigo Price Performance

Shares of PRGO opened at $27.45 on Monday. Perrigo Company plc has a 12 month low of $23.89 and a 12 month high of $34.60. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The stock has a fifty day moving average price of $26.52 and a 200 day moving average price of $26.97. The company has a market cap of $3.75 billion, a P/E ratio of -23.46 and a beta of 0.52.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, hitting the consensus estimate of $0.81. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.12 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. On average, research analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be given 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 4.02%. Perrigo’s dividend payout ratio is presently -94.02%.

Wall Street Analysts Forecast Growth

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

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.