Diametric Capital LP Sells 25,631 Shares of Perrigo Company plc (NYSE:PRGO)

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

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Insider Activity

In related news, EVP Ronald Craig Janish sold 7,800 shares of the company's 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 completion of the sale, the executive vice president now owns 33,666 shares in the company, valued at $923,795.04. This represents a 18.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Perrigo Trading Down 3.6 %

PRGO stock traded down $1.02 during midday trading on Thursday, reaching $26.89. The company's stock had a trading volume of 2,038,728 shares, compared to its average volume of 1,500,446. The business's 50-day simple moving average is $26.38 and its 200-day simple moving average is $26.18. 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 Company plc has a 52 week low of $23.14 and a 52 week high of $33.46. The stock has a market cap of $3.67 billion, a PE ratio of -22.99 and a beta of 0.48.

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

Perrigo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were given a dividend of $0.29 per share. This is a positive change from Perrigo's previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 4.31%. The ex-dividend date was Friday, March 7th. Perrigo's payout ratio is presently -92.80%.

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.