Perrigo Company plc $PRGO Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC reduced its stake in shares of Perrigo Company plc (NYSE:PRGO) by 3.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,905 shares of the company’s stock after selling 5,500 shares during the quarter. First Eagle Investment Management LLC’s holdings in Perrigo were worth $3,899,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in Perrigo by 41.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,073,026 shares of the company’s stock valued at $310,488,000 after acquiring an additional 3,227,487 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Perrigo by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,135,741 shares of the company’s stock valued at $200,085,000 after purchasing an additional 146,211 shares during the period. Sound Shore Management Inc. CT boosted its position in shares of Perrigo by 23.1% in the 1st quarter. Sound Shore Management Inc. CT now owns 3,285,167 shares of the company’s stock valued at $92,116,000 after purchasing an additional 616,387 shares during the period. Ion Asset Management Ltd. grew its stake in Perrigo by 0.5% during the 1st quarter. Ion Asset Management Ltd. now owns 2,833,894 shares of the company’s stock worth $79,462,000 after buying an additional 13,894 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its position in Perrigo by 40.7% during the first quarter. Bahl & Gaynor Inc. now owns 2,146,352 shares of the company’s stock worth $60,184,000 after buying an additional 621,155 shares during the period. 95.91% of the stock is owned by hedge funds and other institutional investors.

Perrigo Stock Down 3.6%

Shares of Perrigo stock opened at $14.40 on Friday. Perrigo Company plc has a one year low of $14.17 and a one year high of $30.93. The company has a market cap of $1.98 billion, a P/E ratio of -24.82 and a beta of 0.42. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 2.32. The firm has a fifty day moving average of $21.34 and a two-hundred day moving average of $24.41.

Perrigo (NYSE:PRGO) last issued its earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.05. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.10 billion. Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 earnings per share. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. On average, analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 28th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 8.1%. The ex-dividend date of this dividend is Friday, November 28th. Perrigo’s dividend payout ratio (DPR) is currently -305.26%.

Insiders Place Their Bets

In other Perrigo news, CFO Eduardo Guarita Bezerra bought 3,000 shares of Perrigo stock in a transaction on Monday, August 18th. The stock was bought at an average price of $22.74 per share, with a total value of $68,220.00. Following the completion of the acquisition, the chief financial officer owned 48,949 shares in the company, valued at $1,113,100.26. The trade was a 6.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Willis bought 1,488 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were bought at an average price of $24.10 per share, for a total transaction of $35,860.80. Following the completion of the transaction, the executive vice president directly owned 41,939 shares in the company, valued at approximately $1,010,729.90. This represents a 3.68% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 10,118 shares of company stock valued at $232,699 over the last 90 days. 0.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PRGO shares. Jefferies Financial Group decreased their price objective on Perrigo from $27.00 to $23.00 and set a “hold” rating for the company in a report on Monday, October 27th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $20.00 price target (down previously from $32.00) on shares of Perrigo in a research report on Thursday. Wall Street Zen downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday. Canaccord Genuity Group reduced their target price on shares of Perrigo from $40.00 to $20.00 and set a “buy” rating for the company in a report on Thursday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Perrigo in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $22.50.

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.