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.
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.
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