DAVENPORT & Co LLC Trims Stake in Perrigo Company plc (NYSE:PRGO)

DAVENPORT & Co LLC lowered its holdings in Perrigo Company plc (NYSE:PRGO) by 70.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 462,596 shares of the company’s stock after selling 1,095,097 shares during the period. DAVENPORT & Co LLC’s holdings in Perrigo were worth $11,893,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Versant Capital Management Inc bought a new position in shares of Perrigo in the fourth quarter worth approximately $45,000. GAMMA Investing LLC increased its holdings in shares of Perrigo by 93.7% in the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $49,000 after buying an additional 929 shares during the last quarter. Central Pacific Bank Trust Division raised its position in shares of Perrigo by 33.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock valued at $51,000 after buying an additional 500 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Perrigo during the 3rd quarter worth $56,000. Finally, KBC Group NV grew its position in Perrigo by 25.1% in the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after acquiring an additional 905 shares in the last quarter. Institutional investors own 95.91% of the company’s stock.

Perrigo Stock Down 0.2 %

PRGO opened at $24.89 on Monday. Perrigo Company plc has a 12 month low of $23.14 and a 12 month high of $33.46. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The business’s 50-day moving average price is $26.01 and its 200-day moving average price is $26.58. The company has a market cap of $3.40 billion, a P/E ratio of -21.27 and a beta of 0.53.

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. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Piper Sandler downgraded Perrigo from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $34.00 to $27.00 in a research report on Monday, January 6th. StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a report on Saturday, January 11th. Finally, Argus lowered Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Perrigo currently has an average rating of “Hold” and an average target price of $35.00.

Insiders Place Their Bets

In other news, Director Jeffrey B. Kindler sold 17,598 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $28.27, for a total transaction of $497,495.46. Following the transaction, the director now directly owns 5,409 shares of the company’s stock, valued at approximately $152,912.43. The trade was a 76.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

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.