Moors & Cabot Inc. trimmed its position in Perrigo Company (NYSE:PRGO) by 16.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,426 shares of the company’s stock after selling 1,042 shares during the quarter. Moors & Cabot Inc.’s holdings in Perrigo were worth $410,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Perrigo by 2.1% during the second quarter. Vanguard Group Inc. now owns 14,874,096 shares of the company’s stock worth $1,123,292,000 after acquiring an additional 299,328 shares during the last quarter. Franklin Resources Inc. increased its stake in Perrigo by 117.7% during the second quarter. Franklin Resources Inc. now owns 8,109,742 shares of the company’s stock worth $612,448,000 after acquiring an additional 4,383,903 shares during the last quarter. State Street Corp increased its stake in Perrigo by 1.7% during the second quarter. State Street Corp now owns 6,757,086 shares of the company’s stock worth $510,294,000 after acquiring an additional 112,287 shares during the last quarter. Manning & Napier Advisors LLC increased its stake in Perrigo by 6.8% during the second quarter. Manning & Napier Advisors LLC now owns 2,586,068 shares of the company’s stock worth $195,298,000 after acquiring an additional 165,232 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Perrigo by 18.2% during the second quarter. Goldman Sachs Group Inc. now owns 1,975,965 shares of the company’s stock worth $149,224,000 after acquiring an additional 304,950 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.
Perrigo Company (NYSE:PRGO) traded down 0.86% during mid-day trading on Wednesday, reaching $87.29. The company’s stock had a trading volume of 139,009 shares. Perrigo Company has a 52 week low of $63.68 and a 52 week high of $92.64. The company’s 50-day moving average price is $83.46 and its 200 day moving average price is $75.13. The firm’s market capitalization is $12.45 billion.
Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Thursday, August 10th. The company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.28. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.55%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the company posted $1.93 EPS. The firm’s revenue was down 7.7% compared to the same quarter last year. On average, equities analysts forecast that Perrigo Company will post $4.58 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th were given a $0.16 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $0.64 annualized dividend and a yield of 0.73%. Perrigo’s dividend payout ratio is presently -3.51%.
Several brokerages have weighed in on PRGO. UBS AG reissued a “buy” rating and set a $98.00 price objective (up from $84.00) on shares of Perrigo in a research note on Thursday, October 5th. Oppenheimer Holdings, Inc. started coverage on Perrigo in a research note on Monday, October 2nd. They set a “buy” rating and a $88.00 price objective on the stock. BidaskClub raised Perrigo from a “sell” rating to a “hold” rating in a research note on Saturday, September 16th. Deutsche Bank AG upped their target price on Perrigo from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, September 14th. Finally, Royal Bank Of Canada reaffirmed a “sell” rating and set a $64.00 target price on shares of Perrigo in a research note on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $88.50.
In other news, EVP Thomas Farrington sold 865 shares of Perrigo stock in a transaction on Friday, August 18th. The shares were sold at an average price of $78.40, for a total transaction of $67,816.00. Following the completion of the sale, the executive vice president now directly owns 2,870 shares of the company’s stock, valued at approximately $225,008. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sharon Kochan sold 1,500 shares of Perrigo stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $79.03, for a total transaction of $118,545.00. Following the sale, the executive vice president now directly owns 10,349 shares of the company’s stock, valued at $817,881.47. The disclosure for this sale can be found here. Insiders sold a total of 6,894 shares of company stock valued at $581,320 in the last three months. 6.90% of the stock is currently owned by corporate insiders.
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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