Exane Asset Management bought a new position in shares of Perrigo Company PLC (NYSE:PRGO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,811 shares of the company’s stock, valued at approximately $205,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. KBC Group NV raised its position in shares of Perrigo by 29.4% in the first quarter. KBC Group NV now owns 82,554 shares of the company’s stock valued at $6,880,000 after buying an additional 18,767 shares during the last quarter. BlackRock Inc. raised its position in shares of Perrigo by 1.0% in the first quarter. BlackRock Inc. now owns 8,682,619 shares of the company’s stock valued at $723,608,000 after buying an additional 82,207 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Perrigo by 25.0% in the first quarter. Gabelli Funds LLC now owns 7,500 shares of the company’s stock valued at $625,000 after buying an additional 1,500 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Perrigo by 25.0% in the first quarter. Toronto Dominion Bank now owns 70,317 shares of the company’s stock valued at $5,859,000 after buying an additional 14,051 shares during the last quarter. Finally, Sphera Funds Management LTD. acquired a new position in shares of Perrigo in the first quarter valued at approximately $1,600,000. Institutional investors own 82.04% of the company’s stock.
Perrigo stock traded up $0.37 during trading on Friday, reaching $70.16. The company had a trading volume of 1,054,332 shares, compared to its average volume of 1,244,625. Perrigo Company PLC has a 12-month low of $67.53 and a 12-month high of $95.93. The company has a market cap of $9.69 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 2.29 and a beta of 0.84. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.23 and a current ratio of 1.81.
Perrigo (NYSE:PRGO) last released its earnings results on Thursday, August 9th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.01. Perrigo had a net margin of 4.77% and a return on equity of 11.92%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the firm earned $1.22 earnings per share. Perrigo’s revenue was down 4.2% compared to the same quarter last year. Sell-side analysts predict that Perrigo Company PLC will post 4.85 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 18th. Shareholders of record on Friday, August 31st were paid a dividend of $0.19 per share. The ex-dividend date was Thursday, August 30th. This represents a $0.76 annualized dividend and a yield of 1.08%. Perrigo’s dividend payout ratio is currently 15.42%.
In other Perrigo news, EVP Svend Andersen acquired 7,200 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was bought at an average cost of $69.43 per share, for a total transaction of $499,896.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.90% of the stock is owned by insiders.
A number of equities analysts have recently weighed in on PRGO shares. Cantor Fitzgerald reissued a “buy” rating and issued a $107.00 price objective on shares of Perrigo in a research report on Wednesday, July 18th. Royal Bank of Canada cut their price objective on shares of Perrigo from $89.00 to $67.00 and set a “hold” rating for the company in a research report on Friday, August 10th. ValuEngine lowered shares of Perrigo from a “sell” rating to a “strong sell” rating in a research report on Friday, September 14th. Deutsche Bank downgraded shares of Perrigo from a “buy” rating to a “hold” rating and lowered their target price for the company from $93.00 to $78.00 in a report on Friday, August 10th. Finally, Canaccord Genuity set a $90.00 target price on shares of Perrigo and gave the company a “buy” rating in a report on Friday, August 17th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $88.07.
Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.
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