Texas Permanent School Fund decreased its stake in shares of Perrigo Company PLC (NYSE:PRGO) by 10.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,260 shares of the company’s stock after selling 3,163 shares during the quarter. Texas Permanent School Fund’s holdings in Perrigo were worth $2,001,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Piedmont Investment Advisors LLC purchased a new position in Perrigo during the second quarter valued at $110,000. Dupont Capital Management Corp raised its stake in Perrigo by 63.8% during the second quarter. Dupont Capital Management Corp now owns 1,705 shares of the company’s stock valued at $124,000 after buying an additional 664 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in Perrigo during the first quarter valued at $205,000. Dynamic Technology Lab Private Ltd purchased a new position in Perrigo during the first quarter valued at $208,000. Finally, Exane Asset Management purchased a new position in Perrigo during the second quarter valued at $205,000. Institutional investors and hedge funds own 83.00% of the company’s stock.
Perrigo stock opened at $73.85 on Wednesday. The firm has a market capitalization of $9.78 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 2.31 and a beta of 0.66. Perrigo Company PLC has a 12 month low of $67.40 and a 12 month high of $95.93. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.81 and a quick ratio of 1.23.
Perrigo (NYSE:PRGO) last posted its earnings results on Thursday, August 9th. The company reported $1.22 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.01. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.23 billion. Perrigo had a return on equity of 11.92% and a net margin of 4.77%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.22 EPS. Equities research analysts forecast that Perrigo Company PLC will post 4.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Shareholders of record on Friday, November 30th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Thursday, November 29th. Perrigo’s payout ratio is 15.42%.
In other Perrigo news, EVP Svend Andersen bought 7,200 shares of Perrigo stock in a transaction on Tuesday, August 14th. The stock was acquired at an average price of $69.43 per share, with a total value of $499,896.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. 6.90% of the stock is currently owned by company insiders.
A number of brokerages have issued reports on PRGO. Jefferies Financial Group reiterated a “hold” rating and set a $73.00 price objective on shares of Perrigo in a research note on Friday, August 10th. Wells Fargo & Co lowered their price objective on Perrigo from $84.00 to $77.00 and set a “market perform” rating for the company in a research note on Tuesday, August 21st. JPMorgan Chase & Co. lowered their price objective on Perrigo from $83.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, August 10th. Goldman Sachs Group cut Perrigo from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $78.00 to $74.00 in a research note on Thursday, July 12th. Finally, ValuEngine upgraded Perrigo from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. Perrigo currently has a consensus rating of “Hold” and an average target price of $88.07.
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Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.
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