Eii Capital Management Inc. Holds Position in Perrigo Company (PRGO)
Eii Capital Management Inc. maintained its stake in shares of Perrigo Company (NYSE:PRGO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,150 shares of the company’s stock at the end of the second quarter. Eii Capital Management Inc.’s holdings in Perrigo were worth $2,655,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. Korea Investment CORP boosted its stake in shares of Perrigo by 142.0% in the second quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock valued at $101,000 after buying an additional 781 shares during the last quarter. Johnson Financial Group Inc. boosted its stake in shares of Perrigo by 15.6% in the first quarter. Johnson Financial Group Inc. now owns 1,775 shares of the company’s stock valued at $118,000 after buying an additional 240 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of Perrigo by 56.4% in the first quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock valued at $157,000 after buying an additional 855 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Perrigo by 1,046.2% in the second quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock valued at $169,000 after buying an additional 2,040 shares during the last quarter. Finally, Teza Capital Management LLC bought a new stake in shares of Perrigo during the first quarter valued at approximately $205,000. Institutional investors and hedge funds own 80.35% of the company’s stock.
Perrigo Company (NYSE PRGO) opened at 76.75 on Wednesday. The company’s market capitalization is $10.95 billion. The company has a 50 day moving average price of $74.36 and a 200-day moving average price of $73.23. Perrigo Company has a one year low of $63.68 and a one year high of $99.14.
Perrigo (NYSE:PRGO) last announced 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 business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the business posted $1.93 EPS. The business’s revenue was down 7.7% compared to the same quarter last year. Analysts expect that Perrigo Company will post $4.58 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.82%. Perrigo’s dividend payout ratio is presently -3.51%.
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Several analysts recently commented on PRGO shares. Deutsche Bank AG reiterated a “buy” rating and issued a $88.00 target price (up from $86.00) on shares of Perrigo in a report on Monday, July 17th. Canaccord Genuity set a $80.00 target price on Perrigo and gave the company a “buy” rating in a report on Wednesday, May 31st. Cantor Fitzgerald set a $85.00 target price on Perrigo and gave the company a “buy” rating in a report on Monday, July 24th. Royal Bank Of Canada reiterated a “hold” rating and issued a $66.00 target price on shares of Perrigo in a report on Wednesday, May 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $71.00 target price on shares of Perrigo in a report on Wednesday, May 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $86.83.
In other news, EVP Thomas Farrington sold 865 shares of Perrigo stock in a transaction on Friday, August 18th. The stock was sold at an average price of $78.40, for a total value of $67,816.00. Following the transaction, the executive vice president now directly owns 2,870 shares in the company, valued at approximately $225,008. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.90% of the company’s stock.
Perrigo Company 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.
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