Financial Sense Advisors Inc. Purchases New Holdings in Perrigo Company (NYSE:PRGO)

Financial Sense Advisors Inc. purchased a new position in Perrigo Company (NYSE:PRGO) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 33,877 shares of the company’s stock, valued at approximately $2,868,000. Perrigo comprises approximately 1.5% of Financial Sense Advisors Inc.’s holdings, making the stock its 17th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Korea Investment CORP lifted its position in shares of Perrigo by 142.0% during the second quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock worth $101,000 after purchasing an additional 781 shares during the last quarter. Commonwealth Bank of Australia raised its holdings in shares of Perrigo by 13.8% in the second quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock valued at $108,000 after acquiring an additional 176 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Perrigo by 1,046.2% in the second quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock valued at $169,000 after acquiring an additional 2,040 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of Perrigo by 2.5% in the first quarter. Bank of Nova Scotia now owns 3,219 shares of the company’s stock valued at $214,000 after acquiring an additional 80 shares in the last quarter. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of Perrigo in the second quarter valued at about $221,000. Institutional investors own 83.12% of the company’s stock.

In related news, EVP Jeffrey Needham sold 3,595 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total transaction of $321,716.55. Following the transaction, the executive vice president now owns 10,118 shares of the company’s stock, valued at approximately $905,459.82. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Sharon Kochan sold 1,500 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $79.03, for a total value of $118,545.00. Following the transaction, the executive vice president now directly owns 10,349 shares in the company, valued at approximately $817,881.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,894 shares of company stock valued at $581,320. Company insiders own 6.90% of the company’s stock.

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Shares of Perrigo Company (PRGO) traded down $0.29 on Friday, hitting $87.70. The company had a trading volume of 1,406,400 shares, compared to its average volume of 1,747,689. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.72 and a quick ratio of 1.23. Perrigo Company has a 52-week low of $63.68 and a 52-week high of $91.95. The stock has a market capitalization of $12,392.57, a PE ratio of 17.96, a price-to-earnings-growth ratio of 2.01 and a beta of 0.69.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Thursday, November 9th. The company reported $1.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.28. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.65 earnings per share. sell-side analysts predict that Perrigo Company will post 4.6 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend is Thursday, November 30th. Perrigo’s dividend payout ratio is presently -6.99%.

Several analysts recently weighed in on PRGO shares. Goldman Sachs Group, Inc. (The) upgraded Perrigo from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $66.00 to $79.00 in a report on Friday, August 11th. Deutsche Bank AG reiterated a “buy” rating and issued a $88.00 target price (up previously from $86.00) on shares of Perrigo in a research note on Monday, July 17th. Jefferies Group LLC set a $71.00 price target on Perrigo and gave the stock a “hold” rating in a research note on Sunday, October 29th. Royal Bank of Canada set a $60.00 price target on Perrigo and gave the stock a “sell” rating in a research note on Sunday, July 16th. Finally, UBS AG restated a “buy” rating and set a $98.00 price target (up previously from $84.00) on shares of Perrigo in a research note on Thursday, October 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $91.50.

About Perrigo

Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements, active pharmaceutical ingredients (API), and medical diagnostic products, and Multiple Sclerosis drug Tysabri.

Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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