Legal & General Group Plc Boosts Position in Perrigo Company (PRGO)
Legal & General Group Plc increased its stake in shares of Perrigo Company (NYSE:PRGO) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 674,091 shares of the company’s stock after purchasing an additional 12,023 shares during the quarter. Legal & General Group Plc owned approximately 0.47% of Perrigo worth $57,059,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. BB&T Securities LLC raised its position in Perrigo by 0.4% during the second quarter. BB&T Securities LLC now owns 9,062 shares of the company’s stock valued at $684,000 after acquiring an additional 35 shares in the last quarter. Shufro Rose & Co. LLC raised its position in Perrigo by 1.2% during the second quarter. Shufro Rose & Co. LLC now owns 5,415 shares of the company’s stock valued at $409,000 after acquiring an additional 65 shares in the last quarter. Arizona State Retirement System raised its position in Perrigo by 0.3% during the second quarter. Arizona State Retirement System now owns 35,600 shares of the company’s stock valued at $2,689,000 after acquiring an additional 100 shares in the last quarter. State of Tennessee Treasury Department raised its position in Perrigo by 0.3% during the second quarter. State of Tennessee Treasury Department now owns 39,214 shares of the company’s stock valued at $2,961,000 after acquiring an additional 103 shares in the last quarter. Finally, Sentry Investment Management LLC raised its position in Perrigo by 1.1% during the second quarter. Sentry Investment Management LLC now owns 11,028 shares of the company’s stock valued at $833,000 after acquiring an additional 117 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.
In other news, EVP Sharon Kochan sold 318 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $81.36, for a total value of $25,872.48. Following the sale, the executive vice president now owns 10,231 shares in the company, valued at $832,394.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Needham sold 3,595 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total transaction of $321,716.55. Following the completion of the sale, the executive vice president now owns 10,118 shares in the company, valued at approximately $905,459.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,514 shares of company stock worth $400,009. 6.90% of the stock is currently owned by corporate insiders.
Shares of Perrigo Company (PRGO) traded down $2.72 during trading on Wednesday, hitting $83.58. 1,341,400 shares of the stock traded hands, compared to its average volume of 1,696,366. The firm has a market capitalization of $12,154.55, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 1.84 and a beta of 0.70. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.72. Perrigo Company has a twelve month low of $63.68 and a twelve month high of $91.73.
Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Thursday, November 9th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.28. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. Perrigo had a negative net margin of 26.28% and a positive return on equity of 11.60%. Perrigo’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted $1.65 earnings per share. analysts anticipate that Perrigo Company will post 4.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Friday, December 1st will be paid a $0.16 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.77%. Perrigo’s payout ratio is -6.99%.
A number of equities analysts have recently commented on the stock. Royal Bank Of Canada raised shares of Perrigo from an “underperform” rating to a “sector perform” rating and lifted their price target for the company from $64.00 to $86.00 in a research report on Friday, November 10th. UBS reissued a “buy” rating and issued a $98.00 price target (up previously from $84.00) on shares of Perrigo in a research report on Thursday, October 5th. Jefferies Group set a $71.00 price target on shares of Perrigo and gave the company a “hold” rating in a research report on Sunday, October 29th. Cantor Fitzgerald set a $107.00 price target on shares of Perrigo and gave the company a “buy” rating in a research report on Wednesday, November 15th. Finally, CIBC assumed coverage on shares of Perrigo in a research report on Thursday, September 7th. They issued an “outperform” rating and a $88.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $92.07.
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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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