Howard Hughes Medical Institute Invests $778,000 in Perrigo Company (PRGO)

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.

About Perrigo

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.

Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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