Verition Fund Management LLC Has $208,000 Position in Perrigo Company plc (NYSE:PRGO)

Verition Fund Management LLC decreased its position in Perrigo Company plc (NYSE:PRGO - Free Report) by 75.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,941 shares of the company's stock after selling 24,013 shares during the period. Verition Fund Management LLC's holdings in Perrigo were worth $208,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC acquired a new position in shares of Perrigo in the third quarter valued at $56,000. KBC Group NV raised its stake in shares of Perrigo by 25.1% in the 3rd quarter. KBC Group NV now owns 4,517 shares of the company's stock valued at $118,000 after buying an additional 905 shares in the last quarter. Voisard Asset Management Group Inc. lifted its holdings in shares of Perrigo by 9.7% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company's stock worth $134,000 after acquiring an additional 450 shares during the period. Atria Investments Inc acquired a new stake in shares of Perrigo during the 3rd quarter valued at about $208,000. Finally, Sanctuary Advisors LLC bought a new stake in Perrigo in the second quarter valued at about $213,000. Institutional investors own 95.91% of the company's stock.

Insider Activity at Perrigo

In other news, Director Jeffrey B. Kindler sold 17,598 shares of the company's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.27, for a total value of $497,495.46. Following the sale, the director now directly owns 5,409 shares of the company's stock, valued at approximately $152,912.43. This represents a 76.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Canaccord Genuity Group restated a "buy" rating and set a $42.00 price target on shares of Perrigo in a research note on Monday, September 30th. StockNews.com raised Perrigo from a "hold" rating to a "buy" rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group reiterated 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 investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Perrigo Trading Down 2.8 %

Shares of Perrigo stock traded down $0.76 during trading on Monday, hitting $26.69. 1,423,798 shares of the company were exchanged, compared to its average volume of 1,600,509. The firm has a market capitalization of $3.64 billion, a P/E ratio of -23.46 and a beta of 0.52. The firm's fifty day moving average price is $26.52 and its 200 day moving average price is $26.97. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. Perrigo Company plc has a 1-year low of $23.89 and a 1-year high of $34.60.

Perrigo (NYSE:PRGO - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, meeting 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 business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the firm earned $0.64 EPS. Perrigo's quarterly revenue was down 3.2% compared to the same quarter last year. As a group, sell-side analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be issued a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a yield of 4.14%. The ex-dividend date is Friday, November 29th. Perrigo's payout ratio is -94.02%.

About Perrigo

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.