Sound Shore Management Inc. CT Boosts Holdings in Perrigo Company plc (NYSE:PRGO)

Sound Shore Management Inc. CT boosted its stake in Perrigo Company plc (NYSE:PRGO - Free Report) by 5.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,391,049 shares of the company's stock after purchasing an additional 117,230 shares during the quarter. Sound Shore Management Inc. CT owned about 1.75% of Perrigo worth $61,402,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. M&R Capital Management Inc. grew its holdings in Perrigo by 3.0% during the 1st quarter. M&R Capital Management Inc. now owns 14,717 shares of the company's stock worth $474,000 after acquiring an additional 434 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Perrigo by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 170,162 shares of the company's stock worth $5,478,000 after buying an additional 447 shares in the last quarter. Ridgewood Investments LLC lifted its stake in shares of Perrigo by 1.3% in the 1st quarter. Ridgewood Investments LLC now owns 35,140 shares of the company's stock worth $1,131,000 after acquiring an additional 451 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Perrigo by 4.3% in the first quarter. Park Avenue Securities LLC now owns 11,330 shares of the company's stock valued at $365,000 after acquiring an additional 465 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Perrigo by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 37,939 shares of the company's stock valued at $974,000 after purchasing an additional 699 shares during the period. Institutional investors and hedge funds own 95.91% of the company's stock.

Perrigo Stock Down 2.3 %

Perrigo stock opened at $27.13 on Friday. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of -387.57 and a beta of 0.49. The firm has a fifty day moving average price of $27.93 and a two-hundred day moving average price of $28.78. Perrigo Company plc has a fifty-two week low of $24.82 and a fifty-two week high of $34.60. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.99 and a quick ratio of 1.24.

Perrigo (NYSE:PRGO - Get Free Report) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.07. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. The firm's revenue for the quarter was down 10.7% on a year-over-year basis. As a group, analysts forecast that Perrigo Company plc will post 2.57 earnings per share for the current year.

Perrigo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were paid a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a yield of 4.07%. The ex-dividend date was Friday, August 30th. Perrigo's payout ratio is -1,571.43%.

Analysts Set New Price Targets

PRGO has been the subject of a number of recent research reports. StockNews.com upgraded Perrigo from a "hold" rating to a "buy" rating in a research report on Monday, August 5th. Piper Sandler reduced their target price on Perrigo from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, July 11th.

Insider Activity at Perrigo

In other news, Director Katherine C. Doyle sold 8,954 shares of the business's stock in a transaction on Friday, September 13th. The shares were 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 owns 6,009 shares of the company's stock, valued at approximately $164,045.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Ronald Craig Janish sold 13,000 shares of Perrigo stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the sale, the executive vice president now owns 20,553 shares of the company's stock, valued at $604,258.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Katherine C. Doyle sold 8,954 shares of the business's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the transaction, the director now directly owns 6,009 shares in the company, valued at approximately $164,045.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,254 shares of company stock worth $1,411,969. 0.70% of the stock is currently 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.

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