Perrigo Company plc (NYSE:PRGO) Shares Sold by Cedar Wealth Management LLC

Cedar Wealth Management LLC trimmed its stake in shares of Perrigo Company plc (NYSE:PRGO) by 14.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,516 shares of the company’s stock after selling 3,765 shares during the quarter. Cedar Wealth Management LLC’s holdings in Perrigo were worth $564,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of PRGO. Venturi Wealth Management LLC bought a new stake in shares of Perrigo during the third quarter valued at about $56,000. Beach Investment Counsel Inc. PA purchased a new position in shares of Perrigo in the second quarter worth approximately $72,000. KBC Group NV boosted its position in shares of 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 buying an additional 905 shares during the period. Voisard Asset Management Group Inc. increased its holdings in shares of Perrigo by 520.0% in the 2nd quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock valued at $119,000 after purchasing an additional 3,900 shares during the period. Finally, Atria Investments Inc purchased a new stake in Perrigo in the 3rd quarter worth approximately $208,000. 95.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Perrigo Trading Up 1.3 %

Shares of PRGO opened at $27.24 on Wednesday. The stock has a 50 day simple moving average of $25.97 and a 200-day simple moving average of $27.17. 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 stock has a market cap of $3.72 billion, a PE ratio of -23.28 and a beta of 0.48. Perrigo Company plc has a 1 year low of $23.89 and a 1 year high of $34.60.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, hitting 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 analyst estimates of $1.12 billion. During the same period in the prior year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, sell-side analysts predict that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be paid a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Friday, November 29th. Perrigo’s dividend payout ratio (DPR) is currently -94.02%.

Insider Transactions at Perrigo

In related news, Director Katherine C. Doyle sold 8,954 shares of Perrigo stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the transaction, the director now directly owns 6,009 shares of the company’s stock, valued at $164,045.70. The trade was a 59.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ronald Craig Janish sold 13,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $29.40, for a total transaction of $382,200.00. Following the sale, the executive vice president now directly owns 20,553 shares in the company, valued at approximately $604,258.20. This represents a 38.74 % decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.

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.