Perrigo Company plc (NYSE:PRGO) Stake Cut by Ionic Capital Management LLC

Ionic Capital Management LLC lowered its holdings in Perrigo Company plc (NYSE:PRGO) by 15.2% during the third quarter, HoldingsChannel reports. The fund owned 336,784 shares of the company’s stock after selling 60,500 shares during the period. Perrigo accounts for about 1.5% of Ionic Capital Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Ionic Capital Management LLC’s holdings in Perrigo were worth $8,834,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Voisard Asset Management Group Inc. lifted its holdings in Perrigo by 9.7% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock worth $134,000 after buying an additional 450 shares in the last quarter. Creative Planning increased its holdings in shares of Perrigo by 3.7% during the 3rd quarter. Creative Planning now owns 18,477 shares of the company’s stock valued at $485,000 after acquiring an additional 661 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Perrigo by 1.9% in the second quarter. Arizona State Retirement System now owns 37,939 shares of the company’s stock valued at $974,000 after buying an additional 699 shares during the period. KBC Group NV lifted its holdings in Perrigo by 25.1% during the 3rd quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after purchasing an additional 905 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Perrigo by 3.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,083 shares of the company’s stock worth $747,000 after purchasing an additional 923 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Stock Down 0.1 %

PRGO opened at $28.50 on Tuesday. Perrigo Company plc has a one year low of $23.89 and a one year high of $34.60. The business’s fifty day moving average is $26.06 and its two-hundred day moving average is $27.01. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The company’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. As a group, equities analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.276 per share. 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 is currently -94.02%.

Insiders Place Their Bets

In other news, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $27.30, for a total transaction of $244,444.20. Following the transaction, the director now owns 6,009 shares of the company’s stock, valued at $164,045.70. This represents a 59.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group reissued a “buy” rating and set a $42.00 price objective on shares of Perrigo in a research note on Monday, September 30th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $30.00 price objective (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Perrigo has an average rating of “Moderate Buy” and a consensus price target of $37.00.

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.