Venturi Wealth Management LLC Invests $56,000 in Perrigo Company plc (NYSE:PRGO)

Venturi Wealth Management LLC bought a new stake in shares of Perrigo Company plc (NYSE:PRGO) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,131 shares of the company’s stock, valued at approximately $56,000.

A number of other large investors have also recently added to or reduced their stakes in PRGO. Beach Investment Counsel Inc. PA acquired a new stake in shares of Perrigo during the 2nd quarter valued at $72,000. Voisard Asset Management Group Inc. lifted its holdings in shares of Perrigo by 520.0% during the second 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 last quarter. Atria Investments Inc acquired a new position in shares of Perrigo in the 3rd quarter valued at $208,000. CWM LLC increased its stake in Perrigo by 877.0% in the 2nd quarter. CWM LLC now owns 8,197 shares of the company’s stock worth $210,000 after purchasing an additional 7,358 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Perrigo during the second quarter valued at about $213,000. 95.91% of the stock is currently owned by institutional investors.

Perrigo Stock Performance

Shares of PRGO opened at $26.81 on Friday. Perrigo Company plc has a 52 week low of $23.89 and a 52 week high of $34.60. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The company has a market capitalization of $3.66 billion, a PE ratio of -22.91 and a beta of 0.48. The company’s 50 day moving average price is $25.96 and its 200 day moving average price is $27.33.

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

Perrigo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be issued a $0.276 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a yield of 4.12%. Perrigo’s dividend payout ratio is currently -94.02%.

Insider Activity at Perrigo

In other news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $164,045.70. This trade represents a 59.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ronald Craig Janish sold 13,000 shares of Perrigo stock in a transaction on Monday, August 26th. The shares were sold at an average price of $29.40, for a total transaction of $382,200.00. Following the completion of the sale, the executive vice president now directly owns 20,553 shares of the company’s stock, valued at approximately $604,258.20. The trade was a 38.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,254 shares of company stock valued at $1,411,969. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Perrigo Company 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.