Perrigo Company PLC (PRGO) Holdings Cut by Redwood Investment Management LLC

Redwood Investment Management LLC reduced its stake in shares of Perrigo Company PLC (NYSE:PRGO) by 6.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,764 shares of the company’s stock after selling 987 shares during the quarter. Redwood Investment Management LLC’s holdings in Perrigo were worth $974,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. FMR LLC raised its stake in Perrigo by 114.3% during the third quarter. FMR LLC now owns 11,080,094 shares of the company’s stock worth $784,471,000 after acquiring an additional 5,909,969 shares in the last quarter. Starboard Value LP raised its stake in Perrigo by 4.1% during the second quarter. Starboard Value LP now owns 10,041,425 shares of the company’s stock worth $732,120,000 after acquiring an additional 400,000 shares in the last quarter. BlackRock Inc. raised its stake in Perrigo by 1.7% during the second quarter. BlackRock Inc. now owns 8,831,380 shares of the company’s stock worth $643,897,000 after acquiring an additional 148,761 shares in the last quarter. Victory Capital Management Inc. raised its stake in Perrigo by 11.9% during the third quarter. Victory Capital Management Inc. now owns 3,136,381 shares of the company’s stock worth $222,056,000 after acquiring an additional 334,660 shares in the last quarter. Finally, Ceredex Value Advisors LLC raised its stake in Perrigo by 132.0% during the third quarter. Ceredex Value Advisors LLC now owns 2,828,159 shares of the company’s stock worth $200,234,000 after acquiring an additional 1,609,009 shares in the last quarter. Hedge funds and other institutional investors own 90.08% of the company’s stock.

PRGO has been the subject of several recent analyst reports. Argus lowered Perrigo from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. ValuEngine upgraded Perrigo from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Cantor Fitzgerald set a $107.00 price objective on Perrigo and gave the stock a “buy” rating in a research note on Thursday, August 9th. Deutsche Bank cut Perrigo from a “buy” rating to a “hold” rating and decreased their target price for the stock from $93.00 to $78.00 in a report on Friday, August 10th. Finally, Stifel Nicolaus decreased their target price on Perrigo from $92.00 to $87.00 and set a “hold” rating on the stock in a report on Friday, August 10th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. Perrigo currently has an average rating of “Hold” and a consensus target price of $82.73.

In other news, VP Todd W. Kingma purchased 3,200 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The shares were acquired at an average price of $63.99 per share, for a total transaction of $204,768.00. Following the completion of the acquisition, the vice president now directly owns 23,587 shares in the company, valued at $1,509,332.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Geoffrey M. Parker purchased 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The stock was purchased at an average price of $65.35 per share, for a total transaction of $196,050.00. Following the acquisition, the director now owns 3,229 shares of the company’s stock, valued at $211,015.15. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 25,783 shares of company stock worth $1,646,976. 6.90% of the stock is owned by company insiders.

Shares of PRGO stock opened at $61.00 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.26 and a debt-to-equity ratio of 0.54. The firm has a market cap of $8.29 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.95 and a beta of 0.66. Perrigo Company PLC has a 52 week low of $59.88 and a 52 week high of $95.93.

Perrigo (NYSE:PRGO) last announced its earnings results on Thursday, November 8th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.05 by $0.04. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Perrigo had a return on equity of 11.32% and a net margin of 2.54%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.39 earnings per share. As a group, equities analysts predict that Perrigo Company PLC will post 4.55 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 18th. Investors of record on Friday, November 30th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, November 29th. Perrigo’s dividend payout ratio is 15.42%.

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Perrigo Profile

Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.

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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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