Perrigo Company plc (NYSE:PRGO) Shares Sold by Cutter Capital Management LP

Cutter Capital Management LP cut its stake in Perrigo Company plc (NYSE:PRGO - Free Report) by 47.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294,517 shares of the company's stock after selling 263,420 shares during the period. Perrigo accounts for 3.1% of Cutter Capital Management LP's portfolio, making the stock its 16th largest position. Cutter Capital Management LP owned approximately 0.22% of Perrigo worth $7,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the stock. Headlands Technologies LLC grew its stake 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 in the last quarter. Versant Capital Management Inc acquired a new position in shares of Perrigo in the 4th quarter worth approximately $45,000. GAMMA Investing LLC increased its holdings in shares of Perrigo by 93.7% in the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock valued at $49,000 after acquiring an additional 929 shares during the last quarter. Central Pacific Bank Trust Division raised its position in shares of 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 acquiring an additional 500 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Perrigo by 97.8% during the fourth quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company's stock worth $108,000 after purchasing an additional 2,084 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors.

Perrigo Stock Performance

Shares of NYSE PRGO opened at $25.21 on Tuesday. Perrigo Company plc has a 12-month low of $23.14 and a 12-month high of $33.46. 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 company has a market cap of $3.44 billion, a PE ratio of -21.55 and a beta of 0.45. The stock has a 50 day simple moving average of $26.56 and a 200-day simple moving average of $26.11.

Perrigo (NYSE:PRGO - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.01. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. On average, equities research analysts forecast that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.60%. Perrigo's dividend payout ratio is presently -92.80%.

Insider Buying and Selling

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 shares were sold at an average price of $27.44, for a total value of $214,032.00. Following the sale, the executive vice president now directly owns 33,666 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PRGO. Argus cut shares of Perrigo from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. StockNews.com lowered shares of Perrigo from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Finally, Piper Sandler lowered Perrigo from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $34.00 to $27.00 in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Perrigo has an average rating of "Hold" and an average price target of $33.00.

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.

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