M&T Bank Corp decreased its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 64,518 shares of the company’s stock after selling 3,005 shares during the period. M&T Bank Corp’s holdings in Perrigo were worth $5,622,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. lifted its position in Perrigo by 7.5% in the third quarter. Sei Investments Co. now owns 131,284 shares of the company’s stock valued at $11,114,000 after purchasing an additional 9,192 shares during the period. Cetera Advisors LLC acquired a new stake in Perrigo in the third quarter valued at about $398,000. Andra AP fonden lifted its position in Perrigo by 9.9% in the third quarter. Andra AP fonden now owns 16,700 shares of the company’s stock valued at $1,414,000 after purchasing an additional 1,500 shares during the period. Highbridge Capital Management LLC acquired a new stake in Perrigo in the third quarter valued at about $442,000. Finally, Russell Investments Group Ltd. lifted its position in Perrigo by 38.0% in the third quarter. Russell Investments Group Ltd. now owns 18,889 shares of the company’s stock valued at $1,599,000 after purchasing an additional 5,203 shares during the period. Institutional investors and hedge funds own 83.27% of the company’s stock.
A number of brokerages have issued reports on PRGO. Barclays increased their target price on shares of Perrigo to $93.00 and gave the company an “overweight” rating in a report on Monday, December 4th. Canaccord Genuity reissued a “buy” rating and set a $100.00 price objective on shares of Perrigo in a research note on Wednesday, January 17th. Leerink Swann initiated coverage on shares of Perrigo in a research note on Tuesday, January 2nd. They set a “market perform” rating and a $90.00 price objective for the company. Royal Bank of Canada raised shares of Perrigo from an “underperform” rating to a “sector perform” rating and raised their price objective for the stock from $64.00 to $86.00 in a research note on Friday, November 10th. Finally, Wells Fargo & Co raised their price objective on shares of Perrigo to $90.00 and gave the stock a “market perform” rating in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. Perrigo has an average rating of “Hold” and an average target price of $93.47.
In other Perrigo news, VP Todd W. Kingma sold 1,500 shares of Perrigo stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $88.52, for a total value of $132,780.00. Following the transaction, the vice president now owns 19,565 shares in the company, valued at approximately $1,731,893.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John Wesolowski sold 388 shares of Perrigo stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $87.20, for a total transaction 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 quarter, insiders sold 4,051 shares of company stock worth $355,370. 6.90% of the stock is owned by company insiders.
Perrigo Company plc (PRGO) opened at $85.81 on Wednesday. The firm has a market cap of $12,013.71, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 1.82 and a beta of 0.76. Perrigo Company plc has a 1-year low of $63.68 and a 1-year high of $95.93. The company has a quick ratio of 1.24, a current ratio of 1.72 and a debt-to-equity ratio of 0.54.
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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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