Orion Portfolio Solutions LLC Sells 10,444 Shares of Perrigo Company plc (NYSE:PRGO)

Orion Portfolio Solutions LLC lessened its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 12.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,044 shares of the company’s stock after selling 10,444 shares during the period. Orion Portfolio Solutions LLC owned approximately 0.05% of Perrigo worth $1,878,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Versant Capital Management Inc bought a new position in Perrigo in the fourth quarter valued at approximately $45,000. GAMMA Investing LLC lifted its position in Perrigo by 93.7% in the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $49,000 after acquiring an additional 929 shares in the last quarter. Central Pacific Bank Trust Division boosted its stake in Perrigo by 33.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock worth $51,000 after purchasing an additional 500 shares during the period. Venturi Wealth Management LLC increased its holdings in Perrigo by 97.8% during the 4th quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company’s stock worth $108,000 after purchasing an additional 2,084 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Perrigo in the 4th quarter valued at about $149,000. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on PRGO. StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Argus cut shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Piper Sandler lowered shares of Perrigo from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $34.00 to $27.00 in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Perrigo presently has a consensus rating of “Hold” and a consensus price target of $33.00.

Insider Activity at Perrigo

In related news, EVP Ronald Craig Janish sold 7,800 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $27.44, for a total value of $214,032.00. Following the sale, the executive vice president now owns 33,666 shares in the company, valued at approximately $923,795.04. This represents a 18.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is currently owned by company insiders.

Perrigo Stock Performance

Shares of NYSE PRGO opened at $27.91 on Thursday. 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 stock has a 50 day moving average price of $26.34 and a 200 day moving average price of $26.17. The stock has a market capitalization of $3.81 billion, a PE ratio of -23.85 and a beta of 0.48. Perrigo Company plc has a 52 week low of $23.14 and a 52 week high of $33.46.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.92 by $0.01. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. Analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.16%. This is a boost from Perrigo’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 7th. Perrigo’s dividend payout ratio is presently -92.80%.

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.