128,495 Shares in Perrigo Company plc (NYSE:PRGO) Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP acquired a new stake in Perrigo Company plc (NYSE:PRGO) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 128,495 shares of the company’s stock, valued at approximately $3,304,000. Cinctive Capital Management LP owned about 0.09% of Perrigo as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at Perrigo

In related news, EVP Ronald Craig Janish sold 7,800 shares of the stock in a transaction dated 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 directly owns 33,666 shares of the company’s stock, valued at approximately $923,795.04. This represents a 18.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Perrigo Price Performance

Shares of PRGO stock opened at $27.91 on Thursday. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of -23.85 and a beta of 0.48. The business’s fifty day moving average is $26.34 and its 200 day moving average is $26.17. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $33.46.

Perrigo (NYSE:PRGO) last released its earnings results on Thursday, February 27th. The company reported $0.93 earnings per share 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 firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. Research analysts expect 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. The ex-dividend date was Friday, March 7th. This represents a $1.16 annualized dividend and a dividend yield of 4.16%. This is an increase from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio is presently -92.80%.

Analysts Set New Price Targets

PRGO has been the topic of several research analyst reports. Piper Sandler cut Perrigo from an “overweight” rating to a “neutral” rating and reduced their target price for the company 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 report on Wednesday, February 19th. Finally, Argus lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Four 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 has an average rating of “Hold” and an average price target of $33.00.

Perrigo Company 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.