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

Semanteon Capital Management LP purchased a new stake in Perrigo Company plc (NYSE:PRGO) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 25,949 shares of the company’s stock, valued at approximately $835,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRGO. Qube Research & Technologies Ltd acquired a new stake in shares of Perrigo during the third quarter worth $5,447,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Perrigo during the third quarter worth $2,006,000. Teachers Retirement System of The State of Kentucky increased its position in shares of Perrigo by 94.1% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 46,118 shares of the company’s stock worth $1,473,000 after buying an additional 22,354 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in shares of Perrigo by 4.1% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 9,627 shares of the company’s stock worth $310,000 after buying an additional 380 shares during the period. Finally, Blair William & Co. IL increased its position in shares of Perrigo by 170.5% during the third quarter. Blair William & Co. IL now owns 25,023 shares of the company’s stock worth $799,000 after buying an additional 15,774 shares during the period. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Perrigo Stock Up 2.1 %

Shares of Perrigo stock traded up $0.67 during trading hours on Friday, reaching $31.94. The company’s stock had a trading volume of 945,679 shares, compared to its average volume of 1,812,863. Perrigo Company plc has a one year low of $25.77 and a one year high of $40.28. The company has a market capitalization of $4.33 billion, a P/E ratio of -319.40 and a beta of 0.64. The stock’s fifty day simple moving average is $30.52 and its two-hundred day simple moving average is $30.80. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.07 and a current ratio of 1.79.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. Perrigo had a negative net margin of 0.27% and a positive return on equity of 7.34%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. On average, research analysts forecast that Perrigo Company plc will post 2.55 earnings per share for the current year.

Perrigo Increases Dividend

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

Insider Activity at Perrigo

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

Wall Street Analyst Weigh In

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

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.