Cedar Wealth Management LLC Increases Stock Holdings in Perrigo Company plc (NYSE:PRGO)

Cedar Wealth Management LLC increased its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,966 shares of the company’s stock after buying an additional 450 shares during the quarter. Cedar Wealth Management LLC’s holdings in Perrigo were worth $565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new position in Perrigo during the 4th quarter worth $45,000. GAMMA Investing LLC lifted its position in Perrigo by 93.7% during the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $49,000 after acquiring an additional 929 shares during the period. Central Pacific Bank Trust Division lifted 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 worth $51,000 after acquiring an additional 500 shares during the period. Venturi Wealth Management LLC lifted 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 worth $108,000 after acquiring an additional 2,084 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Perrigo during the 4th quarter worth about $149,000. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the business’s stock in a transaction that occurred on 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 approximately $923,795.04. The trade was a 18.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is currently owned by insiders.

Perrigo Stock Performance

Shares of PRGO stock opened at $27.95 on Friday. The stock has a market cap of $3.81 billion, a PE ratio of -23.88 and a beta of 0.48. The business has a 50-day simple moving average of $25.73 and a 200-day simple moving average of $26.16. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. Perrigo Company plc has a 52-week low of $23.14 and a 52-week high of $33.46.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations 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 analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be issued a $0.29 dividend. This is a boost from Perrigo’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 7th. This represents a $1.16 dividend on an annualized basis and a yield of 4.15%. Perrigo’s dividend payout ratio is presently -92.80%.

Analyst Upgrades and Downgrades

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

About Perrigo

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.