Systematic Financial Management LP lessened its holdings in shares of Perrigo (NYSE:PRGO) by 11.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 376,545 shares of the company’s stock after selling 46,421 shares during the quarter. Perrigo comprises 0.7% of Systematic Financial Management LP’s investment portfolio, making the stock its 27th largest position. Systematic Financial Management LP owned about 0.27% of Perrigo worth $31,381,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Ceredex Value Advisors LLC bought a new stake in shares of Perrigo during the 1st quarter valued at about $81,786,000. Twin Tree Management LP lifted its position in Perrigo by 271.0% in the 1st quarter. Twin Tree Management LP now owns 2,223 shares of the company’s stock worth $185,000 after buying an additional 3,523 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Perrigo by 8.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 549,100 shares of the company’s stock worth $45,762,000 after buying an additional 42,845 shares during the last quarter. Goodman Financial Corp lifted its position in Perrigo by 4.9% in the 1st quarter. Goodman Financial Corp now owns 63,436 shares of the company’s stock worth $5,287,000 after buying an additional 2,971 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in Perrigo by 31.1% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 69,139 shares of the company’s stock worth $5,762,000 after buying an additional 16,406 shares during the last quarter. Hedge funds and other institutional investors own 79.52% of the company’s stock.
Shares of PRGO stock opened at $76.21 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.08 and a debt-to-equity ratio of 0.53. Perrigo has a fifty-two week low of $63.68 and a fifty-two week high of $95.93. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 1.79 and a beta of 0.77.
Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Tuesday, May 8th. The company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.12. Perrigo had a return on equity of 11.93% and a net margin of 2.59%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. equities analysts predict that Perrigo will post 5.25 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 19th. Shareholders of record on Friday, June 1st will be given a $0.19 dividend. The ex-dividend date is Thursday, May 31st. This represents a $0.76 annualized dividend and a yield of 1.00%. Perrigo’s payout ratio is currently 15.42%.
In related news, CEO Uwe Roehrhoff acquired 7,500 shares of the stock in a transaction on Monday, March 5th. The stock was purchased at an average price of $81.85 per share, for a total transaction of $613,875.00. Following the completion of the transaction, the chief executive officer now owns 4,900 shares of the company’s stock, valued at approximately $401,065. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeffrey C. Smith acquired 50,000 shares of the stock in a transaction on Thursday, May 17th. The stock was bought at an average price of $75.89 per share, with a total value of $3,794,500.00. Following the transaction, the director now directly owns 528 shares of the company’s stock, valued at approximately $40,069.92. The disclosure for this purchase can be found here. Insiders acquired 307,500 shares of company stock valued at $23,210,875 in the last quarter. Corporate insiders own 6.90% of the company’s stock.
A number of analysts recently weighed in on the company. Canaccord Genuity set a $105.00 target price on Perrigo and gave the stock a “buy” rating in a research report on Monday, March 26th. Cantor Fitzgerald set a $107.00 target price on Perrigo and gave the stock a “buy” rating in a research report on Monday, May 14th. Oppenheimer set a $98.00 target price on Perrigo and gave the stock a “buy” rating in a research report on Monday, March 5th. Finally, ValuEngine downgraded Perrigo from a “hold” rating to a “sell” rating in a research report on Wednesday, May 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $93.06.
Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.
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