Readystate Asset Management LP Boosts Stake in Perrigo Company plc $PRGO

Readystate Asset Management LP grew its holdings in Perrigo Company plc (NYSE:PRGO) by 110.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 76,379 shares of the company’s stock after buying an additional 40,079 shares during the period. Readystate Asset Management LP’s holdings in Perrigo were worth $1,701,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRGO. 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. Hantz Financial Services Inc. lifted its holdings in shares of Perrigo by 101.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,234 shares of the company’s stock worth $33,000 after acquiring an additional 620 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Perrigo by 89.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,778 shares of the company’s stock worth $38,000 after purchasing an additional 838 shares during the period. Finally, Kestra Investment Management LLC increased its holdings in Perrigo by 57.1% in the 2nd quarter. Kestra Investment Management LLC now owns 1,766 shares of the company’s stock valued at $47,000 after purchasing an additional 642 shares during the last quarter. 95.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Canaccord Genuity Group decreased their price target on Perrigo from $40.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Zacks Research lowered Perrigo from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Argus raised Perrigo to a “hold” rating in a research report on Wednesday, January 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Perrigo in a research report on Monday, December 22nd. Finally, Wall Street Zen cut shares of Perrigo from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $20.33.

Perrigo Stock Down 0.3%

PRGO stock opened at $14.49 on Wednesday. The company’s 50 day moving average price is $14.21 and its 200 day moving average price is $17.94. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -38.13, a PEG ratio of 1.31 and a beta of 0.39. Perrigo Company plc has a fifty-two week low of $12.17 and a fifty-two week high of $30.93. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.44 and a current ratio of 2.51.

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.