Norinchukin Bank The Buys 633 Shares of Perrigo Company (PRGO)
Norinchukin Bank The lifted its stake in Perrigo Company (NYSE:PRGO) by 6.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,950 shares of the company’s stock after purchasing an additional 633 shares during the quarter. Norinchukin Bank The’s holdings in Perrigo were worth $751,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. BB&T Securities LLC increased its stake in Perrigo by 0.4% during the second quarter. BB&T Securities LLC now owns 9,062 shares of the company’s stock worth $684,000 after acquiring an additional 35 shares during the last quarter. Shufro Rose & Co. LLC increased its stake in Perrigo by 1.2% during the second quarter. Shufro Rose & Co. LLC now owns 5,415 shares of the company’s stock worth $409,000 after acquiring an additional 65 shares during the last quarter. Bank of Nova Scotia increased its stake in Perrigo by 2.5% during the first quarter. Bank of Nova Scotia now owns 3,219 shares of the company’s stock worth $214,000 after acquiring an additional 80 shares during the last quarter. Advantus Capital Management Inc increased its stake in Perrigo by 0.6% during the first quarter. Advantus Capital Management Inc now owns 14,299 shares of the company’s stock worth $949,000 after acquiring an additional 86 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in Perrigo by 0.3% during the first quarter. Arizona State Retirement System now owns 35,500 shares of the company’s stock worth $2,357,000 after acquiring an additional 100 shares during the last quarter. 80.36% of the stock is owned by hedge funds and other institutional investors.
PRGO has been the subject of several recent analyst reports. Goldman Sachs Group, Inc. (The) raised Perrigo from a “sell” rating to a “neutral” rating and raised their target price for the stock from $66.00 to $79.00 in a research note on Friday, August 11th. Royal Bank Of Canada restated a “hold” rating and set a $66.00 price target on shares of Perrigo in a research report on Wednesday, May 24th. Deutsche Bank AG restated a “buy” rating and set a $88.00 price target (up from $86.00) on shares of Perrigo in a research report on Monday, July 17th. Oppenheimer Holdings, Inc. started coverage on Perrigo in a research report on Thursday, September 7th. They set an “outperform” rating and a $88.00 price target for the company. Finally, Cantor Fitzgerald started coverage on Perrigo in a research report on Friday, June 16th. They set an “overweight” rating and a $85.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $89.36.
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In related news, EVP Thomas Farrington sold 865 shares of the 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 completion of the sale, the executive vice president now directly owns 2,870 shares in the company, valued at approximately $225,008. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey Needham sold 3,595 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $89.49, for a total value of $321,716.55. Following the completion of the sale, the executive vice president now owns 10,118 shares of the company’s stock, valued at $905,459.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,894 shares of company stock valued at $581,320. 6.90% of the stock is owned by insiders.
Perrigo Company (PRGO) opened at 85.30 on Wednesday. Perrigo Company has a 12-month low of $63.68 and a 12-month high of $99.14. The stock’s market capitalization is $12.16 billion. The company has a 50-day moving average price of $78.26 and a 200-day moving average price of $73.38.
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 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 period in the prior year, the firm earned $1.93 EPS. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, equities research analysts forecast that Perrigo Company will post $4.58 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Friday, August 25th were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.64 annualized dividend and a yield of 0.75%. Perrigo’s dividend payout ratio is currently -3.51%.
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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