Crestline Management LP Trims Position in Perrigo Company plc (NYSE:PRGO)

Crestline Management LP decreased its position in Perrigo Company plc (NYSE:PRGO - Free Report) by 97.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,001 shares of the company's stock after selling 544,666 shares during the quarter. Crestline Management LP's holdings in Perrigo were worth $437,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC raised its holdings in shares of Perrigo by 1,942.0% during the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock valued at $36,000 after acquiring an additional 1,340 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Perrigo by 93.7% during the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock valued at $49,000 after acquiring an additional 929 shares in the last quarter. Venturi Wealth Management LLC raised 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. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Perrigo during the fourth quarter valued at approximately $149,000. Finally, Sterling Capital Management LLC raised its holdings in Perrigo by 51.8% in the fourth quarter. Sterling Capital Management LLC now owns 8,144 shares of the company's stock worth $209,000 after purchasing an additional 2,780 shares in the last quarter. Hedge funds and other institutional investors own 95.91% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PRGO shares. StockNews.com downgraded Perrigo from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Argus downgraded Perrigo from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $33.00.

Insider Activity at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the business's stock in a transaction dated 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 sale, the executive vice president now directly owns 33,666 shares in the company, valued at $923,795.04. The trade was a 18.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.40% of the stock is currently owned by insiders.

Perrigo Stock Performance

Shares of Perrigo stock traded down $0.25 during trading on Wednesday, hitting $25.97. 1,356,830 shares of the company's stock traded hands, compared to its average volume of 1,536,182. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. Perrigo Company plc has a 1 year low of $23.14 and a 1 year high of $30.93. The stock has a market capitalization of $3.57 billion, a P/E ratio of -22.20 and a beta of 0.45. The business has a 50-day simple moving average of $26.33 and a 200-day simple moving average of $26.14.

Perrigo (NYSE:PRGO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same period last year, the firm posted $0.29 earnings per share. Perrigo's revenue was down 3.5% compared to the same quarter last year. As a group, analysts forecast that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Friday, May 30th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 annualized dividend and a dividend yield of 4.47%. Perrigo's dividend payout ratio (DPR) is presently -88.55%.

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.