New York State Common Retirement Fund Trims Stock Holdings in Perrigo Company plc $PRGO

New York State Common Retirement Fund lowered its stake in Perrigo Company plc (NYSE:PRGO) by 18.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 365,253 shares of the company’s stock after selling 82,986 shares during the quarter. New York State Common Retirement Fund’s holdings in Perrigo were worth $8,134,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Geneos Wealth Management Inc. increased its holdings in Perrigo by 439.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock worth $27,000 after acquiring an additional 786 shares in the last quarter. Huntington National Bank increased its stake in shares of Perrigo by 237.8% in the second quarter. Huntington National Bank now owns 1,054 shares of the company’s stock worth $28,000 after purchasing an additional 742 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of Perrigo by 101.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,234 shares of the company’s stock valued at $33,000 after purchasing an additional 620 shares during the period. Kestra Investment Management LLC lifted its stake in shares of Perrigo by 57.1% during the 2nd quarter. Kestra Investment Management LLC now owns 1,766 shares of the company’s stock valued at $47,000 after buying an additional 642 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Perrigo by 35.2% in the 2nd quarter. Blue Trust Inc. now owns 3,542 shares of the company’s stock worth $95,000 after buying an additional 923 shares in the last quarter. 95.91% of the stock is currently owned by institutional investors.

Insider Activity at Perrigo

In related news, Director Geoffrey M. Parker purchased 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was bought at an average price of $14.18 per share, for a total transaction of $106,350.00. Following the completion of the transaction, the director owned 17,375 shares in the company, valued at approximately $246,377.50. The trade was a 75.95% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Canaccord Genuity Group lowered their price objective on Perrigo from $40.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Argus raised Perrigo to a “hold” rating in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Perrigo in a report on Monday, December 22nd. Wall Street Zen downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Jefferies Financial Group dropped their target price on shares of Perrigo from $27.00 to $23.00 and set a “hold” rating for the company in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $20.33.

Perrigo Stock Up 4.1%

Shares of PRGO opened at $14.72 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.51 and a quick ratio of 1.44. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -38.74, a price-to-earnings-growth ratio of 1.27 and a beta of 0.39. Perrigo Company plc has a 1 year low of $12.17 and a 1 year high of $30.93. The business’s 50 day simple moving average is $14.04 and its 200-day simple moving average is $18.84.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.75 by $0.05. Perrigo had a negative net margin of 1.21% and a positive return on equity of 9.16%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the business earned $0.81 earnings per share. Perrigo’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Profile

Perrigo Company plc is a global healthcare supplier specializing in over-the-counter (OTC) and self-care products, as well as generic prescription pharmaceuticals and active pharmaceutical ingredients. The company develops, manufactures and distributes a broad array of consumer health products, including analgesics, vitamins and supplements, digestive health remedies, topical treatments, and infant formulas. Perrigo’s focus on private-label solutions has made it a leading partner for retailers and pharmacy chains seeking high-quality, value-oriented alternatives to branded medications and health supplements.

Organized across three principal business segments—Consumer Healthcare, Prescription Pharmaceuticals and Active Pharmaceutical Ingredients—Perrigo’s operations span research and development, manufacturing, quality assurance and global distribution.