Perrigo Company plc (NYSE:PRGO) Shares Sold by Diametric Capital LP

Diametric Capital LP lowered its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 68.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,963 shares of the company’s stock after selling 25,631 shares during the quarter. Diametric Capital LP’s holdings in Perrigo were worth $308,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Versant Capital Management Inc purchased a new stake in shares of Perrigo during the fourth quarter worth about $45,000. GAMMA Investing LLC increased its stake in Perrigo by 93.7% during the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $49,000 after buying an additional 929 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of Perrigo by 33.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock valued at $51,000 after acquiring an additional 500 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Perrigo by 97.8% in the fourth quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company’s stock worth $108,000 after acquiring an additional 2,084 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Perrigo during the fourth quarter worth approximately $149,000. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Perrigo Stock Down 1.3 %

NYSE PRGO opened at $27.68 on Wednesday. Perrigo Company plc has a 52 week low of $23.14 and a 52 week high of $33.46. The firm has a market cap of $3.78 billion, a PE ratio of -23.65 and a beta of 0.48. The business’s fifty day simple moving average is $26.26 and its 200-day simple moving average is $26.16. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. As a group, equities analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio is -92.80%.

Insider Transactions at Perrigo

In related news, EVP Ronald Craig Janish sold 7,800 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $27.44, for a total transaction of $214,032.00. Following the completion of the transaction, the executive vice president now owns 33,666 shares of the company’s stock, valued at approximately $923,795.04. This trade represents a 18.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Piper Sandler cut shares of Perrigo from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $34.00 to $27.00 in a research note on Monday, January 6th. StockNews.com lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Argus downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $33.00.

Perrigo Profile

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.