Sound Shore Management Inc CT Boosts Holdings in Perrigo Company plc $PRGO

Sound Shore Management Inc CT increased its stake in shares of Perrigo Company plc (NYSE:PRGO) by 11.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,650,998 shares of the company’s stock after acquiring an additional 363,327 shares during the quarter. Perrigo comprises approximately 2.7% of Sound Shore Management Inc CT’s portfolio, making the stock its 21st largest holding. Sound Shore Management Inc CT owned about 2.65% of Perrigo worth $81,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. LSV Asset Management increased its position in shares of Perrigo by 62.1% during the third quarter. LSV Asset Management now owns 133,900 shares of the company’s stock worth $2,982,000 after purchasing an additional 51,300 shares in the last quarter. Caprock Group LLC purchased a new position in Perrigo during the 3rd quarter worth approximately $592,000. Bryce Point Capital LLC acquired a new position in Perrigo during the third quarter worth approximately $377,000. Diamond Hill Capital Management Inc. lifted its stake in Perrigo by 8.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,797,746 shares of the company’s stock valued at $40,036,000 after buying an additional 142,363 shares during the last quarter. Finally, American Assets Inc. purchased a new stake in Perrigo in the third quarter valued at approximately $601,000. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Price Performance

Shares of PRGO opened at $14.59 on Thursday. The company has a current ratio of 2.51, a quick ratio of 1.44 and a debt-to-equity ratio of 0.81. The stock’s 50 day moving average is $14.12 and its two-hundred day moving average is $18.37. Perrigo Company plc has a twelve month low of $12.17 and a twelve month high of $30.93. The firm has a market capitalization of $2.01 billion, a PE ratio of -38.38, a P/E/G ratio of 1.29 and a beta of 0.39.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PRGO. JPMorgan Chase & Co. cut their target price on shares of Perrigo from $20.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, December 15th. Weiss Ratings restated a “sell (d+)” rating on shares of Perrigo in a research note on Monday, December 22nd. Jefferies Financial Group lowered their price target on Perrigo from $27.00 to $23.00 and set a “hold” rating on the stock in a report on Monday, October 27th. Zacks Research cut Perrigo from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Finally, Argus raised Perrigo to a “hold” rating in a research report on Wednesday, January 14th. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $20.33.

About Perrigo

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.