Ionic Capital Management LLC Cuts Position in Perrigo Company plc (NYSE:PRGO)

Ionic Capital Management LLC cut its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 15.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 336,784 shares of the company’s stock after selling 60,500 shares during the quarter. Perrigo makes up 1.5% of Ionic Capital Management LLC’s investment portfolio, making the stock its 2nd largest holding. Ionic Capital Management LLC owned 0.25% of Perrigo worth $8,834,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Venturi Wealth Management LLC bought a new stake in shares of Perrigo during the third quarter valued at approximately $56,000. KBC Group NV increased its holdings in Perrigo by 25.1% during the 3rd 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. Voisard Asset Management Group Inc. boosted its position in shares of Perrigo by 520.0% in the 2nd quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock worth $119,000 after purchasing an additional 3,900 shares in the last quarter. Atria Investments Inc acquired a new position in shares of Perrigo in the 3rd quarter valued at about $208,000. Finally, CWM LLC increased its stake in shares of Perrigo by 877.0% in the 2nd quarter. CWM LLC now owns 8,197 shares of the company’s stock valued at $210,000 after purchasing an additional 7,358 shares in the last quarter. Institutional investors own 95.91% of the company’s stock.

Wall Street Analysts Forecast Growth

PRGO has been the topic of a number of analyst reports. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group restated a “buy” rating and issued a $42.00 target price on shares of Perrigo in a research note on Monday, September 30th. Finally, Jefferies Financial Group restated a “hold” rating and set a $30.00 target price (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Perrigo Stock Down 0.1 %

Shares of Perrigo stock opened at $28.50 on Tuesday. 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 company’s 50-day moving average price is $26.06 and its 200-day moving average price is $27.01.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm earned $0.64 EPS. As a group, research analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

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

Insider Buying and Selling at Perrigo

In related news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction that occurred 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.40% of the company’s stock.

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.