Exchange Traded Concepts LLC has significantly reduced its investment in Prestige Consumer Healthcare Inc. (NYSE: PBH) by selling 9,527 shares during the third quarter of 2023. According to data from HoldingsChannel, this move represents a decrease of 43.4%, leaving the firm with a total of 12,410 shares valued at approximately $774,000 as of its latest filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also adjusted their positions in Prestige Consumer Healthcare. Wedge Capital Management L L P NC expanded its stake by 29.8% during the same period, acquiring an additional 11,566 shares to bring its total holdings to 50,347 shares, valued at about $3,142,000. Assenagon Asset Management S.A. entered the market by purchasing a new position worth approximately $1,890,000.
Additionally, Corient Private Wealth LLC increased its holdings by 3.9% in the second quarter, now owning 20,394 shares valued at $1,628,000. The Texas Permanent School Fund Corp also raised its stake by 5.9%, acquiring 26,949 shares worth $2,152,000. Osaic Holdings Inc. made a substantial increase of 574.5%, boosting its holdings to 13,226 shares valued at approximately $1,056,000. Collectively, hedge funds and institutional investors own nearly 99.95% of the stock.
Insider Transactions and Earnings Performance
In related news, Vice President Jeffrey Zerillo sold 719 shares of Prestige Consumer Healthcare on November 28, 2023, at an average price of $60.00, totaling $43,140. After this transaction, Zerillo retains ownership of 42,329 shares, approximately valued at $2,539,740. The transaction was reported in a filing with the SEC, which is publicly available.
Prestige Consumer Healthcare recently disclosed its quarterly earnings, reporting $1.07 earnings per share (EPS) for the quarter ending November 6, 2023. This figure surpassed analysts’ expectations of $0.97 by $0.10. The company recorded revenue of $274.11 million, exceeding predictions of $257.14 million. However, revenue decreased by 3.4% compared to the same quarter the previous year. For the fiscal year 2026, Prestige Consumer Healthcare projects an EPS guidance of $4.540 to $4.580.
Analyst Ratings and Market Outlook
Recent analyst evaluations of Prestige Consumer Healthcare have produced mixed results. Jefferies Financial Group has revised its price target from $75.00 to $71.00, maintaining a “hold” rating. Oppenheimer has similarly reduced its target from $82.00 to $72.00 while retaining an “outperform” rating. In contrast, Sidoti upgraded the stock from a “neutral” rating to a “buy” with a target of $80.00.
Canaccord Genuity Group has also lowered its price objective from $100.00 to $88.00 while maintaining a “buy” rating. Zacks Research changed its rating from “strong sell” to “hold” recently. Overall, data from MarketBeat.com indicates that the stock has a consensus rating of “Moderate Buy” with an average target price of $85.33.
Prestige Consumer Healthcare, Inc. is a prominent manufacturer and marketer of branded over-the-counter (OTC) healthcare products. The company focuses on developing a diverse portfolio of non-prescription remedies addressing various consumer health needs, including pain relief, digestive health, and women’s health. Key brands include Clear Eyes, Carmex, and Dramamine among others.
For those interested in detailed holdings and trading activities related to Prestige Consumer Healthcare, further information is available through HoldingsChannel.com, where the latest filings and insider trades are reported.
