Engineers Gate Manager LP Increases Holdings in Perrigo Company (PRGO)

Engineers Gate Manager LP lifted its stake in Perrigo Company (NYSE:PRGO) by 88.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,743 shares of the company’s stock after purchasing an additional 8,319 shares during the period. Engineers Gate Manager LP’s holdings in Perrigo were worth $1,502,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Korea Investment CORP increased its stake in shares of Perrigo by 142.0% in the 2nd quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock worth $101,000 after purchasing an additional 781 shares in the last quarter. Commonwealth Bank of Australia increased its stake in shares of Perrigo by 13.8% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock worth $108,000 after purchasing an additional 176 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Perrigo by 1,046.2% in the 2nd quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock worth $169,000 after purchasing an additional 2,040 shares in the last quarter. Conning Inc. purchased a new stake in shares of Perrigo in the 3rd quarter worth $219,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in Perrigo in the 2nd quarter worth $221,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Perrigo Company (PRGO) traded up $2.73 on Monday, hitting $85.60. 963,600 shares of the company’s stock traded hands, compared to its average volume of 1,686,750. Perrigo Company has a twelve month low of $63.68 and a twelve month high of $91.73. The company has a market cap of $12,060.00, a P/E ratio of 17.47, a PEG ratio of 1.82 and a beta of 0.64. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.72 and a quick ratio of 1.24.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Thursday, November 9th. The company reported $1.39 EPS for the quarter, beating the 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 business 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 EPS. The business’s revenue was down 2.0% on a year-over-year basis. analysts forecast that Perrigo Company will post 4.88 earnings per share for the current year.

The business also recently disclosed 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. 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 (DPR) is presently -6.99%.

In other Perrigo news, EVP Jeffrey Needham sold 3,595 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $89.49, for a total transaction of $321,716.55. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $33,833.60. Following the transaction, the executive vice president now directly owns 248 shares of the company’s stock, valued at approximately $21,625.60. The disclosure for this sale can be found here. Insiders have sold a total of 4,196 shares of company stock valued at $374,137 in the last three months. Insiders own 6.90% of the company’s stock.

A number of equities research analysts have issued reports on PRGO shares. Cantor Fitzgerald set a $107.00 price target on Perrigo and gave the stock a “buy” rating in a research note on Monday, December 4th. Jefferies Group set a $71.00 price target on Perrigo and gave the stock a “hold” rating in a research note on Sunday, October 29th. Argus upgraded Perrigo from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research note on Friday. UBS reiterated a “buy” rating and issued a $98.00 price target (up previously from $84.00) on shares of Perrigo in a research note on Thursday, October 5th. Finally, Oppenheimer started coverage on Perrigo in a research note on Thursday, September 7th. They issued an “outperform” rating and a $88.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $92.13.

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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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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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