Twinbeech Capital LP Sells 28,734 Shares of Perrigo Company plc (NYSE:PRGO)

Twinbeech Capital LP lessened its stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 74.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,623 shares of the company's stock after selling 28,734 shares during the quarter. Twinbeech Capital LP's holdings in Perrigo were worth $247,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in shares of Perrigo by 2.1% during the fourth quarter. Pacer Advisors Inc. now owns 20,337 shares of the company's stock valued at $523,000 after acquiring an additional 427 shares during the last quarter. Cedar Wealth Management LLC lifted its position 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 in the last quarter. Amalgamated Bank lifted its position in Perrigo by 0.8% during the 4th quarter. Amalgamated Bank now owns 64,086 shares of the company's stock worth $1,648,000 after acquiring an additional 522 shares in the last quarter. Fox Run Management L.L.C. lifted its position in Perrigo by 5.1% during the 4th quarter. Fox Run Management L.L.C. now owns 11,381 shares of the company's stock worth $293,000 after acquiring an additional 548 shares in the last quarter. Finally, Snowden Capital Advisors LLC increased its holdings in Perrigo by 3.6% during the 4th quarter. Snowden Capital Advisors LLC now owns 24,337 shares of the company's stock worth $626,000 after purchasing an additional 842 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Perrigo from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $33.00.

Insider Transactions at Perrigo

In other news, EVP Ronald Craig Janish sold 7,800 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $923,795.04. The trade was a 18.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.70% of the company's stock.

Perrigo Stock Performance

Shares of PRGO traded down $0.28 during mid-day trading on Thursday, hitting $26.82. The company's stock had a trading volume of 148,313 shares, compared to its average volume of 1,574,828. Perrigo Company plc has a one year low of $23.14 and a one year high of $30.93. The stock's 50-day moving average is $26.12 and its two-hundred day moving average is $26.19. The firm has a market capitalization of $3.69 billion, a PE ratio of -22.91 and a beta of 0.45. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56.

Perrigo (NYSE:PRGO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.09 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The company's revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 EPS. As a group, sell-side analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th will be paid 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 4.33%. Perrigo's dividend payout ratio is currently -88.55%.

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.