Toronto Dominion Bank Increases Stake in Perrigo Company (PRGO)

Toronto Dominion Bank lifted its stake in shares of Perrigo Company (NYSE:PRGO) by 3.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,158 shares of the company’s stock after purchasing an additional 1,764 shares during the period. Toronto Dominion Bank’s holdings in Perrigo were worth $4,245,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PRGO. BB&T Securities LLC raised its stake in shares of Perrigo by 0.4% during the second quarter. BB&T Securities LLC now owns 9,062 shares of the company’s stock worth $684,000 after buying an additional 35 shares during the last quarter. Shufro Rose & Co. LLC raised its stake in shares of Perrigo by 1.2% during the second quarter. Shufro Rose & Co. LLC now owns 5,415 shares of the company’s stock worth $409,000 after buying an additional 65 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Perrigo by 1.1% during the second quarter. Louisiana State Employees Retirement System now owns 8,900 shares of the company’s stock worth $672,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Perrigo by 0.3% during the second quarter. Arizona State Retirement System now owns 35,600 shares of the company’s stock worth $2,689,000 after buying an additional 100 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its stake in shares of Perrigo by 0.3% during the second quarter. State of Tennessee Treasury Department now owns 39,214 shares of the company’s stock worth $2,961,000 after buying an additional 103 shares during the last quarter. Institutional investors own 80.98% of the company’s stock.

A number of equities research analysts recently weighed in on PRGO shares. Cantor Fitzgerald set a $93.00 price target on shares of Perrigo and gave the stock a “buy” rating in a research note on Thursday, August 10th. Canaccord Genuity reissued a “buy” rating and set a $88.00 price target (up from $80.00) on shares of Perrigo in a research note on Thursday, August 10th. Deutsche Bank AG boosted their price target on shares of Perrigo from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, September 14th. Oppenheimer Holdings, Inc. started coverage on shares of Perrigo in a research note on Monday, October 2nd. They set a “buy” rating and a $88.00 price target for the company. Finally, UBS AG reissued a “buy” rating and set a $98.00 price target (up 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, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. Perrigo has a consensus rating of “Hold” and a consensus target price of $91.50.

Shares of Perrigo Company (NYSE PRGO) opened at $85.89 on Monday. The company has a current ratio of 1.72, a quick ratio of 1.24 and a debt-to-equity ratio of 0.54. Perrigo Company has a 12-month low of $63.68 and a 12-month high of $91.73. The stock has a market cap of $12,096.81, a price-to-earnings ratio of 17.53, a PEG ratio of 1.83 and a beta of 0.69.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Thursday, November 9th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.28. Perrigo had a negative net margin of 26.28% and a positive return on equity of 11.60%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. research analysts expect that Perrigo Company will post 4.88 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Friday, December 1st will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Thursday, November 30th. Perrigo’s dividend payout ratio is -6.99%.

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In other news, EVP Sharon Kochan sold 318 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $81.36, for a total transaction of $25,872.48. Following the completion of the sale, the executive vice president now owns 10,231 shares of the company’s stock, valued at $832,394.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Needham sold 3,595 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total transaction of $321,716.55. Following the sale, the executive vice president now directly owns 10,118 shares of the company’s stock, valued at approximately $905,459.82. The disclosure for this sale can be found here. Insiders have sold 6,029 shares of company stock valued at $513,504 in the last three months. 6.90% of the stock is owned by insiders.

Perrigo Profile

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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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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