Diametric Capital LP Cuts Stock Position in Perrigo Company plc (NYSE:PRGO)

Diametric Capital LP decreased its holdings in Perrigo Company plc (NYSE:PRGO) by 68.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 have also recently made changes to their positions in the business. Pacer Advisors Inc. boosted its position in Perrigo by 2.1% in the 4th quarter. Pacer Advisors Inc. now owns 20,337 shares of the company’s stock valued at $523,000 after buying an additional 427 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Perrigo by 2.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,617 shares of the company’s stock valued at $567,000 after acquiring an additional 436 shares in the last quarter. Cedar Wealth Management LLC boosted its holdings in Perrigo by 2.1% in the fourth quarter. Cedar Wealth Management LLC now owns 21,966 shares of the company’s stock valued at $565,000 after purchasing an additional 450 shares during the period. Central Pacific Bank Trust Division grew its stake in Perrigo by 33.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock worth $51,000 after purchasing an additional 500 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in Perrigo by 0.8% during the 4th quarter. Amalgamated Bank now owns 64,086 shares of the company’s stock worth $1,648,000 after purchasing an additional 522 shares during the period. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Price Performance

Shares of NYSE PRGO opened at $27.68 on Wednesday. The stock’s 50-day simple moving average is $26.26 and its 200-day simple moving average is $26.16. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The firm has a market capitalization of $3.78 billion, a PE ratio of -23.65 and a beta of 0.48. Perrigo Company plc has a fifty-two week low of $23.14 and a fifty-two week high of $33.46.

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

Perrigo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were issued a dividend of $0.29 per share. This is a positive change from Perrigo’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.16 annualized dividend and a dividend yield of 4.19%. Perrigo’s dividend payout ratio (DPR) is presently -92.80%.

Analyst Ratings Changes

A number of equities analysts have recently commented on PRGO shares. StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Piper Sandler cut shares of Perrigo from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $34.00 to $27.00 in a report on Monday, January 6th. Finally, Argus lowered shares of Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.00.

Insider Activity

In other news, EVP Ronald Craig Janish sold 7,800 shares of Perrigo stock in a transaction on Monday, March 10th. The shares were sold at an average price of $27.44, for a total value of $214,032.00. Following the transaction, the executive vice president now directly owns 33,666 shares of the company’s stock, valued at $923,795.04. The trade was a 18.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.70% of the company’s stock.

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.