Ionic Capital Management LLC Sells 215,183 Shares of Perrigo Company plc (NYSE:PRGO)

Ionic Capital Management LLC decreased its position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 63.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,601 shares of the company's stock after selling 215,183 shares during the quarter. Perrigo accounts for 0.3% of Ionic Capital Management LLC's portfolio, making the stock its 16th largest position. Ionic Capital Management LLC owned about 0.09% of Perrigo worth $3,126,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC boosted its holdings in Perrigo by 1,942.0% in the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock worth $36,000 after purchasing an additional 1,340 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Perrigo by 93.7% in the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock worth $49,000 after buying an additional 929 shares during the last quarter. Venturi Wealth Management LLC grew its holdings 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 acquiring an additional 2,084 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Perrigo during the fourth quarter valued at $149,000. Finally, Sterling Capital Management LLC lifted 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 valued at $209,000 after acquiring an additional 2,780 shares during the period. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Perrigo Stock Performance

NYSE PRGO traded down $0.25 on Wednesday, reaching $25.97. 1,356,830 shares of the stock were exchanged, compared to its average volume of 1,536,182. The company's 50-day simple moving average is $26.30 and its two-hundred day simple moving average is $26.14. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $3.57 billion, a PE ratio of -22.20 and a beta of 0.45. Perrigo Company plc has a one year low of $23.14 and a one year high of $30.93.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.60 EPS for the quarter, topping analysts' consensus estimates 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 in the previous year, the firm earned $0.29 EPS. The firm's revenue was down 3.5% compared to the same quarter last year. Analysts expect that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PRGO shares. Argus cut shares of Perrigo from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. StockNews.com cut Perrigo from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $33.00.

Insider Buying and Selling at Perrigo

In other news, EVP Ronald Craig Janish sold 7,800 shares of Perrigo stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $27.44, for a total value of $214,032.00. Following the completion of the transaction, the executive vice president now owns 33,666 shares in the company, valued at approximately $923,795.04. The trade was a 18.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by company insiders.

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.