First Eagle Investment Management LLC Trims Stake in Perrigo Company plc $PRGO

First Eagle Investment Management LLC lessened its holdings in Perrigo Company plc (NYSE:PRGO) by 3.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 145,905 shares of the company’s stock after selling 5,500 shares during the period. First Eagle Investment Management LLC owned approximately 0.11% of Perrigo worth $3,899,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. lifted its position in Perrigo by 439.1% in the first quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock valued at $27,000 after buying an additional 786 shares during the last quarter. Huntington National Bank raised its stake in shares of Perrigo by 237.8% in the 2nd quarter. Huntington National Bank now owns 1,054 shares of the company’s stock valued at $28,000 after acquiring an additional 742 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Perrigo by 54.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the company’s stock worth $32,000 after acquiring an additional 424 shares during the last quarter. Hantz Financial Services Inc. boosted 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 worth $33,000 after purchasing an additional 620 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in Perrigo in the 1st quarter valued at approximately $42,000. 95.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on PRGO. Wall Street Zen cut Perrigo from a “buy” rating to a “hold” rating in a research note on Saturday. Canaccord Genuity Group decreased their target price on Perrigo from $40.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. restated a “neutral” rating and set a $20.00 target price (down from $32.00) on shares of Perrigo in a report on Thursday. Weiss Ratings reiterated a “sell (d)” rating on shares of Perrigo in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group reduced their price target on shares of Perrigo from $27.00 to $23.00 and set a “hold” rating on the stock in a research report on Monday, October 27th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.50.

Insider Activity

In other news, CFO Eduardo Guarita Bezerra bought 3,000 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price of $22.74 per share, for a total transaction of $68,220.00. Following the completion of the purchase, the chief financial officer owned 48,949 shares in the company, valued at approximately $1,113,100.26. This trade represents a 6.53% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Abigail Lennox purchased 1,255 shares of the business’s stock in a transaction on Monday, September 8th. The stock was acquired at an average price of $22.41 per share, for a total transaction of $28,124.55. Following the completion of the purchase, the executive vice president owned 1,255 shares of the company’s stock, valued at $28,124.55. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 10,118 shares of company stock valued at $232,699 in the last 90 days. Company insiders own 0.70% of the company’s stock.

Perrigo Price Performance

PRGO stock opened at $14.40 on Friday. The business’s 50-day moving average is $21.34 and its two-hundred day moving average is $24.41. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24. The firm has a market capitalization of $1.98 billion, a P/E ratio of -24.82 and a beta of 0.42. Perrigo Company plc has a 1 year low of $14.17 and a 1 year high of $30.93.

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

Perrigo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 28th will be given a dividend of $0.29 per share. 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 payout ratio is -305.26%.

Perrigo Company 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.