New York State Common Retirement Fund Sells 82,986 Shares of Perrigo Company plc $PRGO

New York State Common Retirement Fund decreased its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 18.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 365,253 shares of the company’s stock after selling 82,986 shares during the period. New York State Common Retirement Fund owned 0.27% of Perrigo worth $8,134,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new position in Perrigo during the 2nd quarter valued at approximately $36,755,000. Perpetual Ltd increased its holdings in shares of Perrigo by 64.2% during the third quarter. Perpetual Ltd now owns 3,149,878 shares of the company’s stock valued at $70,148,000 after acquiring an additional 1,231,400 shares in the last quarter. Ion Asset Management Ltd. raised its position in shares of Perrigo by 34.7% in the 2nd quarter. Ion Asset Management Ltd. now owns 3,817,621 shares of the company’s stock worth $102,007,000 after purchasing an additional 983,727 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Perrigo by 126.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,159,768 shares of the company’s stock worth $32,520,000 after purchasing an additional 647,982 shares in the last quarter. Finally, State Street Corp grew its position in Perrigo by 9.5% during the 2nd quarter. State Street Corp now owns 7,340,323 shares of the company’s stock valued at $196,134,000 after purchasing an additional 637,678 shares during the last quarter. 95.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Canaccord Genuity Group dropped their target price on shares of Perrigo from $40.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Wall Street Zen cut Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research lowered Perrigo from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. JPMorgan Chase & Co. lowered their price target on Perrigo from $20.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, December 15th. Finally, Argus upgraded Perrigo to a “hold” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $20.33.

Perrigo Stock Performance

PRGO stock opened at $14.72 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.51 and a quick ratio of 1.44. Perrigo Company plc has a 1 year low of $12.17 and a 1 year high of $30.93. The company has a market cap of $2.03 billion, a P/E ratio of -38.74, a price-to-earnings-growth ratio of 1.27 and a beta of 0.39. The stock’s fifty day moving average price is $14.04 and its 200-day moving average price is $18.84.

Perrigo (NYSE:PRGO) last posted its earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. Perrigo had a positive return on equity of 9.16% and a negative net margin of 1.21%.The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company earned $0.81 earnings per share. Perrigo’s revenue was down 4.1% on a year-over-year basis. On average, equities analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Perrigo news, Director Geoffrey M. Parker purchased 7,500 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were acquired at an average cost of $14.18 per share, for a total transaction of $106,350.00. Following the completion of the transaction, the director owned 17,375 shares of the company’s stock, valued at approximately $246,377.50. The trade was a 75.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

About Perrigo

Perrigo Company plc is a global healthcare supplier specializing in over-the-counter (OTC) and self-care products, as well as generic prescription pharmaceuticals and active pharmaceutical ingredients. The company develops, manufactures and distributes a broad array of consumer health products, including analgesics, vitamins and supplements, digestive health remedies, topical treatments, and infant formulas. Perrigo’s focus on private-label solutions has made it a leading partner for retailers and pharmacy chains seeking high-quality, value-oriented alternatives to branded medications and health supplements.

Organized across three principal business segments—Consumer Healthcare, Prescription Pharmaceuticals and Active Pharmaceutical Ingredients—Perrigo’s operations span research and development, manufacturing, quality assurance and global distribution.