Perrigo Company (PRGO) Stake Lowered by California State Teachers Retirement System

California State Teachers Retirement System lessened its holdings in Perrigo Company (NYSE:PRGO) by 13.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 244,968 shares of the company’s stock after selling 37,584 shares during the period. California State Teachers Retirement System owned approximately 0.17% of Perrigo worth $18,499,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Perrigo by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 14,874,096 shares of the company’s stock valued at $1,123,292,000 after purchasing an additional 299,328 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Perrigo by 117.7% in the 2nd quarter. Franklin Resources Inc. now owns 8,109,742 shares of the company’s stock valued at $612,448,000 after purchasing an additional 4,383,903 shares during the last quarter. State Street Corp lifted its stake in shares of Perrigo by 1.7% in the 2nd quarter. State Street Corp now owns 6,757,086 shares of the company’s stock valued at $510,294,000 after purchasing an additional 112,287 shares during the last quarter. Manning & Napier Advisors LLC lifted its stake in shares of Perrigo by 6.8% in the 2nd quarter. Manning & Napier Advisors LLC now owns 2,586,068 shares of the company’s stock valued at $195,298,000 after purchasing an additional 165,232 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Perrigo by 18.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,975,965 shares of the company’s stock valued at $149,224,000 after purchasing an additional 304,950 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Thursday, August 10th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the business earned $1.93 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year.

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Several equities analysts have recently commented on PRGO shares. Royal Bank Of Canada set a $60.00 price target on Perrigo and gave the company a “sell” rating in a research note on Sunday, July 16th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $88.00 price target (up previously from $86.00) on shares of Perrigo in a research note on Monday, July 17th. Canaccord Genuity reaffirmed a “buy” rating and issued a $100.00 price target (up previously from $88.00) on shares of Perrigo in a research note on Wednesday, September 13th. Cantor Fitzgerald upped their price target on Perrigo from $93.00 to $107.00 and gave the company an “overweight” rating in a research note on Tuesday, September 12th. Finally, CIBC started coverage on Perrigo in a research note on Thursday, September 7th. They issued an “outperform” rating and a $88.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $88.50.

In other Perrigo news, EVP Jeffrey Needham sold 3,595 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total transaction of $321,716.55. Following the transaction, the executive vice president now owns 10,118 shares in the company, valued at $905,459.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Thomas Farrington sold 616 shares of

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Perrigo by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 14,874,096 shares of the company’s stock valued at $1,123,292,000 after purchasing an additional 299,328 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Perrigo by 117.7% in the 2nd quarter. Franklin Resources Inc. now owns 8,109,742 shares of the company’s stock valued at $612,448,000 after purchasing an additional 4,383,903 shares during the last quarter. State Street Corp lifted its stake in shares of Perrigo by 1.7% in the 2nd quarter. State Street Corp now owns 6,757,086 shares of the company’s stock valued at $510,294,000 after purchasing an additional 112,287 shares during the last quarter. Manning & Napier Advisors LLC lifted its stake in shares of Perrigo by 6.8% in the 2nd quarter. Manning & Napier Advisors LLC now owns 2,586,068 shares of the company’s stock valued at $195,298,000 after purchasing an additional 165,232 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Perrigo by 18.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,975,965 shares of the company’s stock valued at $149,224,000 after purchasing an additional 304,950 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Thursday, August 10th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the business earned $1.93 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year.

ILLEGAL ACTIVITY WARNING: This news story was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another domain, it was stolen and reposted in violation of United States & international trademark and copyright law. The original version of this news story can be viewed at https://ledgergazette.com/2017/10/18/perrigo-company-prgo-stake-lowered-by-california-state-teachers-retirement-system.html.

Several equities analysts have recently commented on PRGO shares. Royal Bank Of Canada set a $60.00 price target on Perrigo and gave the company a “sell” rating in a research note on Sunday, July 16th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $88.00 price target (up previously from $86.00) on shares of Perrigo in a research note on Monday, July 17th. Canaccord Genuity reaffirmed a “buy” rating and issued a $100.00 price target (up previously from $88.00) on shares of Perrigo in a research note on Wednesday, September 13th. Cantor Fitzgerald upped their price target on Perrigo from $93.00 to $107.00 and gave the company an “overweight” rating in a research note on Tuesday, September 12th. Finally, CIBC started coverage on Perrigo in a research note on Thursday, September 7th. They issued an “outperform” rating and a $88.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $88.50.

In other Perrigo news, EVP Jeffrey Needham sold 3,595 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total transaction of $321,716.55. Following the transaction, the executive vice president now owns 10,118 shares in the company, valued at $905,459.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Thomas Farrington sold 616 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $76.90, for a total value of $47,370.40. Following the transaction, the executive vice president now owns 2,724 shares in the company, valued at approximately $209,475.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,894 shares of company stock valued at $581,320. 6.90% of the stock is owned by company insiders.

Perrigo Profile

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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