Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Perrigo Company (NYSE:PRGO) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 256,459 shares of the company’s stock after selling 1,971 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.18% of Perrigo worth $21,709,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in PRGO. Korea Investment CORP raised its position in Perrigo by 142.0% during the second quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock valued at $101,000 after acquiring an additional 781 shares in the last quarter. Commonwealth Bank of Australia increased its position 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 buying an additional 176 shares in the last quarter. Bessemer Group Inc. increased its position 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 buying an additional 2,040 shares in the last quarter. Conning Inc. purchased a new stake in shares of Perrigo in the third quarter valued at approximately $219,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Perrigo in the second quarter valued at approximately $221,000. 85.53% of the stock is owned by hedge funds and other institutional investors.
In other 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 value of $321,716.55. Following the transaction, the executive vice president now owns 10,118 shares in the company, valued at approximately $905,459.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John Wesolowski sold 388 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $87.20, for a total value of $33,833.60. Following the completion of the transaction, the executive vice president now owns 248 shares in the company, valued at approximately $21,625.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,196 shares of company stock worth $374,137. 6.90% of the stock is owned by company insiders.
PRGO has been the subject of a number of recent analyst reports. BidaskClub cut Perrigo from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Cantor Fitzgerald set a $107.00 price target on Perrigo and gave the stock a “buy” rating in a research report on Friday, October 20th. Deutsche Bank boosted their price target on Perrigo from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, September 14th. Canaccord Genuity reissued a “buy” rating and set a $100.00 price objective (up previously from $88.00) on shares of Perrigo in a research note on Wednesday, September 13th. Finally, Jefferies Group set a $71.00 price objective on Perrigo and gave the stock a “hold” rating in a research note on Sunday, October 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $92.13.
Shares of Perrigo Company (NYSE:PRGO) traded up $0.49 during midday trading on Friday, reaching $82.87. The company’s stock had a trading volume of 847,000 shares, compared to its average volume of 1,689,814. 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 $11,670.00, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 1.75 and a beta of 0.64.
Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Thursday, November 9th. The company reported $1.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.28. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the business earned $1.65 EPS. Perrigo’s revenue was down 2.0% on a year-over-year basis. analysts anticipate that Perrigo Company will post 4.88 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 0.77%. Perrigo’s dividend payout ratio (DPR) is -6.99%.
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Perrigo Company 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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