Ethic Inc. Purchases Shares of 19,329 Perrigo Company plc $PRGO

Ethic Inc. acquired a new position in Perrigo Company plc (NYSE:PRGO) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 19,329 shares of the company’s stock, valued at approximately $513,000.

Other hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its position 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 buying an additional 786 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings 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 buying an additional 424 shares during the period. Picton Mahoney Asset Management purchased a new position in Perrigo during the 1st quarter worth $42,000. First Horizon Advisors Inc. increased its holdings in Perrigo by 138.3% during the 1st quarter. First Horizon Advisors Inc. now owns 1,754 shares of the company’s stock worth $49,000 after purchasing an additional 1,018 shares during the period. Finally, Blue Trust Inc. increased its holdings in Perrigo by 35.2% during the 2nd quarter. Blue Trust Inc. now owns 3,542 shares of the company’s stock worth $95,000 after purchasing an additional 923 shares during the period. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Perrigo Trading Down 1.5%

PRGO stock opened at $21.61 on Wednesday. The company has a current ratio of 2.32, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Perrigo Company plc has a 12-month low of $20.51 and a 12-month high of $30.93. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of -37.26 and a beta of 0.43. The business’s 50-day moving average is $22.19 and its 200 day moving average is $24.78.

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

Insider Transactions at Perrigo

In other news, EVP Robert Willis acquired 1,488 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were bought at an average cost of $24.10 per share, for a total transaction of $35,860.80. Following the acquisition, the executive vice president owned 41,939 shares in the company, valued at approximately $1,010,729.90. This represents a 3.68% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Abigail Lennox acquired 1,255 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was purchased at an average price of $22.41 per share, for a total transaction of $28,124.55. Following the completion of the acquisition, the executive vice president owned 1,255 shares in the company, valued at $28,124.55. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 10,118 shares of company stock valued at $232,699. 0.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on PRGO. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Perrigo in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on Perrigo from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Jefferies Financial Group reduced their target price on Perrigo from $27.00 to $23.00 and set a “hold” rating for the company in a research note on Monday. Wall Street Zen upgraded Perrigo from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Canaccord Genuity Group cut their price target on Perrigo from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.25.

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.