Perrigo Company plc $PRGO Shares Sold by Continental Advisors LLC

Continental Advisors LLC cut its position in Perrigo Company plc (NYSE:PRGO) by 21.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 144,903 shares of the company’s stock after selling 40,200 shares during the quarter. Perrigo makes up 1.8% of Continental Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. Continental Advisors LLC’s holdings in Perrigo were worth $3,872,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its stake in Perrigo by 439.1% in the first quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock valued at $27,000 after buying an additional 786 shares during the last quarter. Huntington National Bank raised its position in Perrigo by 237.8% in the 2nd quarter. Huntington National Bank now owns 1,054 shares of the company’s stock valued at $28,000 after purchasing an additional 742 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Perrigo by 54.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the company’s stock worth $32,000 after purchasing an additional 424 shares during the period. Hantz Financial Services Inc. grew its position in Perrigo by 101.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,234 shares of the company’s stock worth $33,000 after purchasing an additional 620 shares during the last quarter. Finally, Kestra Investment Management LLC increased its stake in Perrigo by 57.1% in the second quarter. Kestra Investment Management LLC now owns 1,766 shares of the company’s stock valued at $47,000 after purchasing an additional 642 shares during the period. Institutional investors and hedge funds own 95.91% of the company’s stock.

Wall Street Analysts Forecast Growth

PRGO has been the subject of several recent research reports. Wall Street Zen downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Zacks Research cut Perrigo from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Canaccord Genuity Group dropped their target price on Perrigo from $40.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Perrigo in a report on Monday, December 8th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $20.00 price objective (down from $32.00) on shares of Perrigo in a research report on Thursday, November 6th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Perrigo presently has a consensus rating of “Reduce” and an average target price of $22.50.

Perrigo Stock Down 2.3%

PRGO opened at $13.13 on Friday. The business has a 50 day simple moving average of $17.02 and a 200-day simple moving average of $22.19. Perrigo Company plc has a 12 month low of $12.17 and a 12 month high of $30.93. The stock has a market capitalization of $1.81 billion, a P/E ratio of -34.54 and a beta of 0.39. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.51 and a quick ratio of 1.44.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.05. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Perrigo had a positive return on equity of 9.16% and a negative net margin of 1.21%.Perrigo’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.81 earnings per share. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. On average, equities analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 28th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.16 dividend on an annualized basis and a yield of 8.8%. Perrigo’s payout ratio is currently -305.26%.

Insiders Place Their Bets

In related news, Director Geoffrey M. Parker bought 7,500 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was bought at an average cost of $14.18 per share, with a total value of $106,350.00. Following the completion of the acquisition, the director owned 17,375 shares in the company, valued at approximately $246,377.50. This represents a 75.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.70% of the company’s stock.

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.