Glenview Trust Co lessened its stake in Perrigo Company (NYSE:PRGO) by 53.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,680 shares of the company’s stock after selling 19,020 shares during the quarter. Glenview Trust Co’s holdings in Perrigo were worth $1,260,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Korea Investment CORP grew its holdings in shares of Perrigo by 142.0% during the second quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock worth $101,000 after buying an additional 781 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in shares of Perrigo by 13.8% during the second quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock worth $108,000 after buying an additional 176 shares in the last quarter. Johnson Financial Group Inc. grew its holdings in shares of Perrigo by 15.6% during the first quarter. Johnson Financial Group Inc. now owns 1,775 shares of the company’s stock worth $118,000 after buying an additional 240 shares in the last quarter. Global X Management Co. LLC grew its holdings in shares of Perrigo by 56.4% during the first quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock worth $157,000 after buying an additional 855 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Perrigo by 1,046.2% during the second quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock worth $169,000 after buying an additional 2,040 shares in the last quarter. 80.36% of the stock is owned by institutional investors.
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Perrigo Company (NYSE:PRGO) traded down 0.13% during midday trading on Friday, hitting $84.93. The stock had a trading volume of 653,667 shares. Perrigo Company has a 12-month low of $63.68 and a 12-month high of $99.14. The company has a 50-day moving average price of $78.26 and a 200-day moving average price of $73.38. The company’s market cap is $12.11 billion.
Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Thursday, August 10th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the 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 company 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 EPS. Perrigo’s revenue for the quarter was down 7.7% compared to the same quarter last year. Equities analysts anticipate that Perrigo Company will post $4.58 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th were issued a dividend of $0.16 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $0.64 annualized dividend and a yield of 0.75%. Perrigo’s dividend payout ratio is presently -3.51%.
In other news, 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 completion of the sale, the executive vice president now directly owns 10,118 shares in the company, valued at approximately $905,459.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas Farrington sold 865 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $78.40, for a total value of $67,816.00. Following the completion of the sale, the executive vice president now owns 2,870 shares of the company’s stock, valued at $225,008. The disclosure for this sale can be found here. Insiders have sold a total of 6,894 shares of company stock worth $581,320 over the last 90 days. 6.90% of the stock is owned by company insiders.
A number of equities research analysts have recently issued reports on PRGO shares. Goldman Sachs Group, Inc. (The) raised shares of Perrigo from a “sell” rating to a “neutral” rating and upped their target price for the stock from $66.00 to $79.00 in a report on Friday, August 11th. Deutsche Bank AG reissued a “buy” rating and set a $88.00 price target (up previously from $86.00) on shares of Perrigo in a research report on Monday, July 17th. Royal Bank Of Canada set a $60.00 price target on shares of Perrigo and gave the company a “sell” rating in a research report on Sunday, July 16th. Oppenheimer Holdings, Inc. began coverage on shares of Perrigo in a research report on Thursday, September 7th. They set an “outperform” rating and a $88.00 price target on the stock. Finally, Cantor Fitzgerald began coverage on shares of Perrigo in a research report on Friday, June 16th. They set an “overweight” rating and a $85.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target 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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