Howard Hughes Medical Institute bought a new stake in shares of Perrigo Company (NYSE:PRGO) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 10,296 shares of the company’s stock, valued at approximately $778,000.
A number of other institutional investors have also added to or reduced their stakes in PRGO. Thrivent Financial For Lutherans increased its stake in shares of Perrigo by 5.9% in the 2nd quarter. Thrivent Financial For Lutherans now owns 123,198 shares of the company’s stock valued at $9,304,000 after acquiring an additional 6,810 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Perrigo by 47.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,723 shares of the company’s stock valued at $583,000 after acquiring an additional 2,496 shares during the last quarter. Poplar Forest Capital LLC increased its stake in shares of Perrigo by 94.6% in the 2nd quarter. Poplar Forest Capital LLC now owns 14,790 shares of the company’s stock valued at $1,117,000 after acquiring an additional 7,190 shares during the last quarter. Amalgamated Bank increased its stake in Perrigo by 54.5% during the 2nd quarter. Amalgamated Bank now owns 15,079 shares of the company’s stock worth $1,139,000 after purchasing an additional 5,320 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in Perrigo by 0.4% during the 2nd quarter. Nationwide Fund Advisors now owns 55,199 shares of the company’s stock worth $4,169,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 80.36% of the company’s stock.
In other Perrigo news, EVP Thomas Farrington sold 865 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $78.40, for a total transaction of $67,816.00. Following the sale, the executive vice president now directly owns 2,870 shares of the company’s stock, valued at $225,008. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey Needham sold 3,595 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total value of $321,716.55. Following the sale, the executive vice president now directly owns 10,118 shares in the company, valued at $905,459.82. The disclosure for this sale can be found here. Insiders sold 6,894 shares of company stock worth $581,320 over the last ninety days. Insiders own 6.90% of the company’s stock.
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Perrigo Company (NYSE PRGO) traded down 0.13% on Friday, reaching $84.93. The company’s stock had a trading volume of 653,667 shares. The stock’s 50 day moving average price is $78.26 and its 200 day moving average price is $73.38. The firm’s market cap is $12.11 billion. Perrigo Company has a 52-week low of $63.68 and a 52-week high of $99.14.
Perrigo (NYSE:PRGO) last announced its quarterly earnings data 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 positive return on equity of 11.55% and a negative net margin of 51.04%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the business earned $1.93 earnings per share. The business’s revenue was down 7.7% on a year-over-year basis. Equities research analysts expect that Perrigo Company will post $4.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.64 annualized dividend and a dividend yield of 0.75%. Perrigo’s dividend payout ratio (DPR) is -3.51%.
A number of research firms recently issued reports on PRGO. BidaskClub raised Perrigo from a “sell” rating to a “hold” rating in a research note on Saturday, September 16th. Deutsche Bank AG upped 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. Royal Bank Of Canada reaffirmed a “sell” rating and set a $64.00 price target on shares of Perrigo in a research report on Wednesday, September 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $100.00 price target (up previously from $88.00) on shares of Perrigo in a research report on Wednesday, September 13th. Finally, Cantor Fitzgerald upped their price target on Perrigo from $93.00 to $107.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $89.36.
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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