Wealth Enhancement Advisory Services LLC Decreases Stock Holdings in Perrigo Company plc $PRGO

Wealth Enhancement Advisory Services LLC decreased its holdings in Perrigo Company plc (NYSE:PRGO) by 6.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,051 shares of the company’s stock after selling 924 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Perrigo were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. grew its stake in shares of Perrigo by 439.1% in the first quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock worth $27,000 after acquiring an additional 786 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Perrigo by 54.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the company’s stock worth $32,000 after acquiring an additional 424 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Perrigo in the first quarter worth $42,000. First Horizon Advisors Inc. grew its stake in shares of Perrigo by 138.3% in the first quarter. First Horizon Advisors Inc. now owns 1,754 shares of the company’s stock worth $49,000 after acquiring an additional 1,018 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Perrigo by 62.0% in the first quarter. Fifth Third Bancorp now owns 2,218 shares of the company’s stock worth $62,000 after acquiring an additional 849 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Insider Buying and Selling at Perrigo

In other news, CFO Eduardo Guarita Bezerra acquired 3,000 shares of Perrigo stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price of $22.74 per share, for a total transaction of $68,220.00. Following the completion of the transaction, the chief financial officer directly owned 48,949 shares in the company, valued at approximately $1,113,100.26. This trade represents a 6.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Abigail Lennox acquired 1,255 shares of Perrigo stock in a transaction that occurred on Monday, September 8th. The stock was purchased at an average price of $22.41 per share, with a total value of $28,124.55. Following the transaction, the executive vice president owned 1,255 shares of the company’s stock, valued at $28,124.55. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 10,118 shares of company stock worth $232,699 over the last three months. 0.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PRGO has been the subject of several research reports. Weiss Ratings restated a “sell (d)” rating on shares of Perrigo in a research note on Saturday, September 27th. Canaccord Genuity Group lowered their target price on shares of Perrigo from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. JPMorgan Chase & Co. lowered their target price on shares of Perrigo from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Perrigo has a consensus rating of “Hold” and a consensus price target of $34.00.

Perrigo Price Performance

Shares of PRGO opened at $21.72 on Wednesday. Perrigo Company plc has a 1-year low of $20.51 and a 1-year high of $30.93. The stock has a market cap of $2.99 billion, a PE ratio of -37.44 and a beta of 0.43. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24. The firm has a fifty day moving average price of $23.02 and a 200 day moving average price of $25.32.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the firm earned $0.53 earnings per share. Perrigo’s revenue was down .9% on a year-over-year basis. As a group, sell-side analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, August 29th. This represents a $1.16 annualized dividend and a dividend yield of 5.3%. Perrigo’s dividend payout ratio is -200.00%.

Perrigo 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.