Prestige Consumer Healthcare (NYSE:PBH) Shares Gap Up on Better-Than-Expected Earnings

Prestige Consumer Healthcare Inc. (NYSE:PBH) gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $76.10, but opened at $80.90. Prestige Consumer Healthcare shares last traded at $80.96, with a volume of 14,133 shares trading hands.

The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.04. Prestige Consumer Healthcare had a return on equity of 12.23% and a net margin of 18.54%.

Analysts Set New Price Targets

PBH has been the topic of several recent research reports. StockNews.com upgraded shares of Prestige Consumer Healthcare from a “hold” rating to a “buy” rating in a research note on Friday, January 24th. Sidoti cut Prestige Consumer Healthcare from a “buy” rating to a “neutral” rating and set a $90.00 price target for the company. in a research report on Monday, December 9th. DA Davidson reaffirmed a “buy” rating and set a $95.00 price target on shares of Prestige Consumer Healthcare in a research report on Monday, November 11th. Finally, Raymond James raised Prestige Consumer Healthcare to a “moderate buy” rating in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.25.

Insider Buying and Selling at Prestige Consumer Healthcare

In related news, CEO Ronald M. Lombardi sold 10,875 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $82.60, for a total transaction of $898,275.00. Following the sale, the chief executive officer now owns 320,952 shares of the company’s stock, valued at $26,510,635.20. This trade represents a 3.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Adel Mekhail sold 9,063 shares of Prestige Consumer Healthcare stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $82.00, for a total transaction of $743,166.00. Following the sale, the executive vice president now owns 18,365 shares in the company, valued at approximately $1,505,930. This represents a 33.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,810 shares of company stock worth $3,187,300 over the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Millennium Management LLC grew its position in shares of Prestige Consumer Healthcare by 565.1% during the 2nd quarter. Millennium Management LLC now owns 101,218 shares of the company’s stock worth $6,969,000 after buying an additional 86,000 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Prestige Consumer Healthcare by 562.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 510 shares of the company’s stock valued at $35,000 after purchasing an additional 433 shares during the period. Sanctuary Advisors LLC bought a new stake in Prestige Consumer Healthcare during the 2nd quarter valued at $1,095,000. SG Americas Securities LLC bought a new stake in Prestige Consumer Healthcare during the 3rd quarter valued at $364,000. Finally, Handelsbanken Fonder AB raised its holdings in Prestige Consumer Healthcare by 8.2% during the third quarter. Handelsbanken Fonder AB now owns 14,481 shares of the company’s stock worth $1,044,000 after buying an additional 1,100 shares during the last quarter. 99.95% of the stock is owned by institutional investors.

Prestige Consumer Healthcare Trading Up 7.6 %

The company has a quick ratio of 2.10, a current ratio of 3.56 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $4.05 billion, a P/E ratio of 19.89, a P/E/G ratio of 2.15 and a beta of 0.50. The firm’s 50-day moving average price is $79.29 and its 200 day moving average price is $75.25.

Prestige Consumer Healthcare Company Profile

Prestige Consumer Healthcare Inc, together with its subsidiaries, develops, manufactures, markets, distributes, and sells over-the-counter (OTC) health and personal care products in the United States and internationally. The company operates in two segments, North American OTC Healthcare and International OTC Healthcare.