Trexquant Investment LP Acquires New Position in Perrigo Company plc (NYSE:PRGO)

Trexquant Investment LP purchased a new stake in Perrigo Company plc (NYSE:PRGO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 46,942 shares of the company's stock, valued at approximately $1,207,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Headlands Technologies LLC grew its position in shares of Perrigo by 1,942.0% during the 4th quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock worth $36,000 after buying an additional 1,340 shares during the period. Versant Capital Management Inc bought a new position in shares of Perrigo during the 4th quarter worth about $45,000. GAMMA Investing LLC increased its position in Perrigo by 93.7% in the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock valued at $49,000 after buying an additional 929 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in Perrigo by 33.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company's stock worth $51,000 after acquiring an additional 500 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of Perrigo by 97.8% during the fourth quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company's stock valued at $108,000 after acquiring an additional 2,084 shares in the last quarter. 95.91% of the stock is owned by institutional investors and hedge funds.

Perrigo Price Performance

Shares of PRGO traded up $0.33 during midday trading on Wednesday, reaching $25.39. The stock had a trading volume of 194,945 shares, compared to its average volume of 1,518,489. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of -21.63 and a beta of 0.49. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. Perrigo Company plc has a 12-month low of $20.66 and a 12-month high of $33.46. The company's 50-day moving average is $26.43 and its 200 day moving average is $26.06.

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Perrigo (NYSE:PRGO - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.01. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. On average, equities analysts predict that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were paid a $0.29 dividend. This is an increase from Perrigo's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date was Friday, March 7th. Perrigo's dividend payout ratio is presently -92.80%.

Insiders Place Their Bets

In other news, EVP Ronald Craig Janish sold 7,800 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 33,666 shares in the company, valued at approximately $923,795.04. The trade was a 18.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

About Perrigo

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.