Perrigo Company plc (NYSE:PRGO) Shares Bought by Xponance Inc.

Xponance Inc. grew its stake in Perrigo Company plc (NYSE:PRGO) by 11.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,883 shares of the company’s stock after purchasing an additional 2,599 shares during the quarter. Xponance Inc.’s holdings in Perrigo were worth $640,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc acquired a new position in Perrigo in the 4th quarter valued at $45,000. GAMMA Investing LLC raised its position in shares of Perrigo by 93.7% in the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $49,000 after buying an additional 929 shares during the last quarter. Central Pacific Bank Trust Division raised its position in shares of Perrigo by 33.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock valued at $51,000 after buying an additional 500 shares during the last quarter. Venturi Wealth Management LLC lifted 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 buying an additional 2,084 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Perrigo during the fourth quarter worth about $149,000. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Insider Buying and Selling at Perrigo

In other news, EVP Ronald Craig Janish sold 7,800 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was 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 directly owns 33,666 shares in the company, valued at $923,795.04. This trade represents a 18.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

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

Perrigo Stock Performance

NYSE:PRGO opened at $27.25 on Wednesday. The company’s 50-day moving average is $25.87 and its two-hundred day moving average is $26.14. Perrigo Company plc has a 1-year low of $23.14 and a 1-year high of $33.46. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of -23.29 and a beta of 0.48.

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. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. Analysts forecast 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. Shareholders of record on Friday, March 7th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.26%. The ex-dividend date was Friday, March 7th. This is a positive change from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio (DPR) is -92.80%.

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.