Pinnacle Associates Ltd. Buys 9,269 Shares of Prestige Consumer Healthcare Inc. (NYSE:PBH)

Pinnacle Associates Ltd. boosted its stake in shares of Prestige Consumer Healthcare Inc. (NYSE:PBH) by 60.3% during the third quarter, Holdings Channel reports. The fund owned 24,630 shares of the company’s stock after acquiring an additional 9,269 shares during the period. Pinnacle Associates Ltd.’s holdings in Prestige Consumer Healthcare were worth $1,776,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PBH. Boston Trust Walden Corp bought a new position in shares of Prestige Consumer Healthcare in the 3rd quarter valued at about $41,785,000. Ariel Investments LLC boosted its stake in shares of Prestige Consumer Healthcare by 10.7% in the 2nd quarter. Ariel Investments LLC now owns 2,835,203 shares of the company’s stock valued at $195,204,000 after purchasing an additional 274,212 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Prestige Consumer Healthcare by 26.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,320,125 shares of the company’s stock valued at $90,891,000 after purchasing an additional 272,773 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Prestige Consumer Healthcare by 9.0% in the 2nd quarter. Victory Capital Management Inc. now owns 2,074,460 shares of the company’s stock valued at $142,827,000 after purchasing an additional 171,357 shares during the last quarter. Finally, F M Investments LLC bought a new position in shares of Prestige Consumer Healthcare in the 2nd quarter valued at about $11,162,000. Institutional investors own 99.95% of the company’s stock.

Prestige Consumer Healthcare Stock Performance

Shares of NYSE:PBH opened at $74.05 on Friday. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 18.11, a P/E/G ratio of 2.08 and a beta of 0.47. The firm’s 50 day simple moving average is $72.17 and its 200 day simple moving average is $69.56. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.23 and a quick ratio of 1.90. Prestige Consumer Healthcare Inc. has a fifty-two week low of $56.61 and a fifty-two week high of $75.80.

Prestige Consumer Healthcare (NYSE:PBH) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. The business had revenue of $267.10 million for the quarter, compared to the consensus estimate of $260.54 million. Prestige Consumer Healthcare had a net margin of 18.43% and a return on equity of 12.55%. Prestige Consumer Healthcare’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the company posted $1.06 EPS. As a group, sell-side analysts forecast that Prestige Consumer Healthcare Inc. will post 4.43 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $76.00 target price (up previously from $70.00) on shares of Prestige Consumer Healthcare in a research note on Tuesday, September 24th. DA Davidson raised their target price on shares of Prestige Consumer Healthcare from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Two equities research analysts have 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 currently has an average rating of “Moderate Buy” and a consensus price target of $94.20.

About Prestige Consumer Healthcare

Prestige Consumer Healthcare Inc, together with its subsidiaries, develops, manufactures, markets, distributes, and sells over-the-counter (OTC) health and personal care products in the United States and internationally. The company operates in two segments, North American OTC Healthcare and International OTC Healthcare.