Norden Group LLC Lowers Holdings in Prestige Consumer Healthcare Inc. (NYSE:PBH)

Key Points

• Norden Group LLC sold 5,210 shares of Prestige Consumer Healthcare Inc., reducing its stake by 36.0% in the first quarter, retaining 9,255 shares valued at $796,000.
• Analysts have upgraded Prestige Consumer Healthcare's stock from a “hold” to a “buy” rating, with a consensus price target set at **$93.33**.
• The company's latest earnings report showed a revenue increase of 7.0% year-over-year, with an earnings per share (EPS) of **$1.32**, surpassing estimates by $0.02.

Norden Group LLC lowered its position in shares of Prestige Consumer Healthcare Inc. (NYSE:PBH - Free Report) by 36.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,255 shares of the company's stock after selling 5,210 shares during the quarter. Norden Group LLC's holdings in Prestige Consumer Healthcare were worth $796,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PBH. CIBC Private Wealth Group LLC increased its position in Prestige Consumer Healthcare by 48.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 463 shares of the company's stock worth $34,000 after purchasing an additional 152 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in Prestige Consumer Healthcare during the first quarter valued at $38,000. Headlands Technologies LLC bought a new position in shares of Prestige Consumer Healthcare in the fourth quarter worth about $40,000. McIlrath & Eck LLC grew its holdings in shares of Prestige Consumer Healthcare by 19.1% in the fourth quarter. McIlrath & Eck LLC now owns 959 shares of the company's stock worth $75,000 after purchasing an additional 154 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new position in shares of Prestige Consumer Healthcare in the fourth quarter worth about $93,000. Hedge funds and other institutional investors own 99.95% of the company's stock.

Prestige Consumer Healthcare Stock Down 0.3%

PBH traded down $0.23 on Friday, reaching $73.72. The company's stock had a trading volume of 189,271 shares, compared to its average volume of 366,132. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 2.25 and a beta of 0.43. Prestige Consumer Healthcare Inc. has a fifty-two week low of $64.94 and a fifty-two week high of $90.04. The stock has a 50 day moving average of $80.89 and a two-hundred day moving average of $82.28. The company has a quick ratio of 2.82, a current ratio of 4.20 and a debt-to-equity ratio of 0.55.

Prestige Consumer Healthcare (NYSE:PBH - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.02. The business had revenue of $296.52 million during the quarter, compared to the consensus estimate of $289.36 million. Prestige Consumer Healthcare had a return on equity of 12.87% and a net margin of 18.86%. The company's revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.02 earnings per share. As a group, analysts forecast that Prestige Consumer Healthcare Inc. will post 4.5 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Royal Bank Of Canada raised shares of Prestige Consumer Healthcare to a "hold" rating in a research report on Thursday, May 8th. Wall Street Zen upgraded Prestige Consumer Healthcare from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Prestige Consumer Healthcare has a consensus rating of "Moderate Buy" and an average target price of $93.33.

About Prestige Consumer Healthcare

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.