New Mexico Educational Retirement Board Lowers Stake in Perrigo Company (NYSE:PRGO)
New Mexico Educational Retirement Board reduced its stake in Perrigo Company (NYSE:PRGO) by 8.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,300 shares of the company’s stock after selling 1,200 shares during the period. New Mexico Educational Retirement Board’s holdings in Perrigo were worth $996,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of PRGO. 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 in 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 in 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 in 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 in the last quarter. Finally, Teza Capital Management LLC bought a new stake in shares of Perrigo during the first quarter valued at about $205,000. Institutional investors own 76.30% of the company’s stock.
Perrigo Company (NYSE:PRGO) opened at 77.30 on Tuesday. The stock’s market cap is $11.08 billion. Perrigo Company has a 1-year low of $63.68 and a 1-year high of $99.14. The company’s 50 day moving average is $73.65 and its 200-day moving average is $73.10.
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, topping the Zacks’ consensus estimate of $0.94 by $0.28. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.37%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the firm posted $1.93 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. Equities research analysts forecast that Perrigo Company will post $4.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Friday, August 25th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Wednesday, August 23rd. Perrigo’s dividend payout ratio (DPR) is presently -3.51%.
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Several research analysts have recently weighed in on PRGO shares. B. Riley reiterated a “neutral” rating and set a $67.00 price target on shares of Perrigo in a research note on Saturday, April 22nd. Deutsche Bank AG dropped their price target on shares of Perrigo from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, April 19th. Royal Bank Of Canada set a $60.00 price target on shares of Perrigo and gave the stock a “sell” rating in a research note on Sunday, July 16th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $68.00 price target on shares of Perrigo in a research note on Wednesday, May 31st. Finally, Canaccord Genuity set a $86.00 price target on shares of Perrigo and gave the stock a “buy” rating in a research note on Monday, May 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $85.31.
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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