Semanteon Capital Management LP Purchases Shares of 25,949 Perrigo Company plc (NYSE:PRGO)

Semanteon Capital Management LP purchased a new stake in shares of Perrigo Company plc (NYSE:PRGO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,949 shares of the company’s stock, valued at approximately $835,000.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in Perrigo during the fourth quarter valued at about $30,000. Parkside Financial Bank & Trust boosted its holdings in Perrigo by 1,694.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company’s stock valued at $34,000 after acquiring an additional 983 shares during the period. Blue Trust Inc. boosted its holdings in Perrigo by 34.5% during the fourth quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock valued at $50,000 after acquiring an additional 399 shares during the period. Fifth Third Bancorp lifted its stake in shares of Perrigo by 39.5% in the third quarter. Fifth Third Bancorp now owns 1,714 shares of the company’s stock valued at $55,000 after buying an additional 485 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of Perrigo by 25.6% in the fourth quarter. Signaturefd LLC now owns 2,240 shares of the company’s stock valued at $72,000 after buying an additional 457 shares during the period. 95.91% of the stock is currently owned by institutional investors.

Perrigo Price Performance

PRGO traded up $0.67 during midday trading on Friday, reaching $31.94. 945,679 shares of the company’s stock were exchanged, compared to its average volume of 1,812,863. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of -319.40 and a beta of 0.64. The company has a quick ratio of 1.07, a current ratio of 1.79 and a debt-to-equity ratio of 0.76. Perrigo Company plc has a one year low of $25.77 and a one year high of $40.28. The business has a 50-day simple moving average of $30.52 and a two-hundred day simple moving average of $30.80.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Perrigo had a negative net margin of 0.27% and a positive return on equity of 7.34%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. As a group, research analysts predict that Perrigo Company plc will post 2.55 EPS for the current year.

Perrigo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 8th were issued a dividend of $0.276 per share. This is a positive change from Perrigo’s previous quarterly dividend of $0.27. The ex-dividend date was Thursday, March 7th. This represents a $1.10 annualized dividend and a dividend yield of 3.46%. Perrigo’s dividend payout ratio (DPR) is presently -1,100.00%.

Insider Transactions at Perrigo

In other news, CEO Patrick Lockwood-Taylor acquired 9,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was bought at an average price of $26.54 per share, with a total value of $252,130.00. Following the completion of the acquisition, the chief executive officer now owns 20,500 shares in the company, valued at approximately $544,070. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Alison Ives purchased 2,490 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was acquired at an average price of $27.26 per share, with a total value of $67,877.40. Following the completion of the acquisition, the executive vice president now directly owns 16,122 shares in the company, valued at approximately $439,485.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick Lockwood-Taylor purchased 9,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was bought at an average cost of $26.54 per share, with a total value of $252,130.00. Following the acquisition, the chief executive officer now owns 20,500 shares of the company’s stock, valued at $544,070. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 17,990 shares of company stock valued at $475,227. Corporate insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

PRGO has been the subject of several research reports. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Piper Sandler increased their target price on shares of Perrigo from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 target price on shares of Perrigo in a research note on Friday, April 12th. Finally, JPMorgan Chase & Co. cut their price target on shares of Perrigo from $48.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th.

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.