DAVENPORT & Co LLC Sells 1,095,097 Shares of Perrigo Company plc (NYSE:PRGO)

DAVENPORT & Co LLC cut its stake in shares of Perrigo Company plc (NYSE:PRGO) by 70.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 462,596 shares of the company’s stock after selling 1,095,097 shares during the period. DAVENPORT & Co LLC owned about 0.34% of Perrigo worth $11,893,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PRGO. Pacer Advisors Inc. raised its holdings in shares of Perrigo by 2.1% in the fourth quarter. Pacer Advisors Inc. now owns 20,337 shares of the company’s stock valued at $523,000 after purchasing an additional 427 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Perrigo by 2.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,617 shares of the company’s stock worth $567,000 after purchasing an additional 436 shares in the last quarter. Voisard Asset Management Group Inc. increased its stake in Perrigo by 9.7% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock valued at $134,000 after buying an additional 450 shares during the last quarter. Central Pacific Bank Trust Division boosted its stake in shares of 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 buying an additional 500 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of Perrigo by 3.7% in the 3rd quarter. Creative Planning now owns 18,477 shares of the company’s stock worth $485,000 after buying an additional 661 shares during the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Perrigo Stock Performance

Shares of PRGO opened at $24.89 on Monday. Perrigo Company plc has a 1 year low of $23.14 and a 1 year high of $33.46. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The stock’s fifty day moving average price is $26.01 and its two-hundred day moving average price is $26.58. The firm has a market cap of $3.40 billion, a PE ratio of -21.27 and a beta of 0.53.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 EPS. On average, equities research analysts forecast that Perrigo Company plc will post 2.56 EPS for the current year.

Insider Activity at Perrigo

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.27, for a total value of $497,495.46. Following the completion of the transaction, the director now owns 5,409 shares in the company, valued at $152,912.43. This trade represents a 76.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PRGO shares. StockNews.com lowered Perrigo from a “buy” rating to a “hold” rating in a report on Saturday, January 11th. Piper Sandler downgraded shares of Perrigo from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $34.00 to $27.00 in a report on Monday, January 6th. Finally, Argus lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.00.

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.