Perrigo Company (PRGO) Shares Sold by Sector Gamma AS
Sector Gamma AS decreased its stake in shares of Perrigo Company (NYSE:PRGO) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 279,440 shares of the company’s stock after selling 13,700 shares during the period. Perrigo comprises about 3.6% of Sector Gamma AS’s investment portfolio, making the stock its 15th biggest holding. Sector Gamma AS owned about 0.20% of Perrigo worth $23,655,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of PRGO. Teachers Advisors LLC lifted its holdings in Perrigo by 5.5% in the first quarter. Teachers Advisors LLC now owns 184,705 shares of the company’s stock worth $12,263,000 after acquiring an additional 9,615 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Perrigo by 11.7% in the first quarter. Dimensional Fund Advisors LP now owns 312,302 shares of the company’s stock valued at $20,736,000 after purchasing an additional 32,828 shares during the period. Bank of Montreal Can increased its stake in shares of Perrigo by 17.4% in the second quarter. Bank of Montreal Can now owns 96,324 shares of the company’s stock valued at $7,274,000 after purchasing an additional 14,304 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Perrigo by 40.8% in the second quarter. State of Alaska Department of Revenue now owns 4,553 shares of the company’s stock valued at $343,000 after purchasing an additional 1,320 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of Perrigo by 456.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 21,268 shares of the company’s stock valued at $1,606,000 after purchasing an additional 17,444 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.
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Several equities research analysts have commented on PRGO shares. Royal Bank Of Canada upgraded shares of Perrigo from an “underperform” rating to a “sector perform” rating and raised their price target for the company from $64.00 to $86.00 in a research note on Friday, November 10th. UBS AG restated a “buy” rating and issued a $98.00 price target (up previously from $84.00) on shares of Perrigo in a research note on Thursday, October 5th. Jefferies Group LLC set a $71.00 price target on shares of Perrigo and gave the company a “hold” rating in a research note on Sunday, October 29th. CIBC assumed coverage on shares of Perrigo in a research note on Thursday, September 7th. They set an “outperform” rating and a $88.00 price objective on the stock. Finally, Deutsche Bank AG raised their price objective on shares of Perrigo from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $91.50.
In related news, EVP Jeffrey Needham sold 3,595 shares of Perrigo 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 approximately $905,459.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sharon Kochan sold 1,500 shares of Perrigo stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $79.03, for a total transaction of $118,545.00. Following the completion of the sale, the executive vice president now directly owns 10,349 shares of the company’s stock, valued at approximately $817,881.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,894 shares of company stock valued at $581,320. 6.90% of the stock is owned by company insiders.
Shares of Perrigo Company (PRGO) traded down $0.80 during trading hours on Wednesday, hitting $86.00. 1,930,500 shares of the company’s stock were exchanged, compared to its average volume of 1,748,505. The company has a quick ratio of 1.24, a current ratio of 1.72 and a debt-to-equity ratio of 0.54. Perrigo Company has a 52 week low of $63.68 and a 52 week high of $91.73. The firm has a market cap of $12,224.97, a price-to-earnings ratio of 17.71, a P/E/G ratio of 1.87 and a beta of 0.69.
Perrigo (NYSE:PRGO) last released its quarterly earnings data on Thursday, November 9th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.28. Perrigo had a negative net margin of 26.28% and a positive return on equity of 11.60%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the business earned $1.65 EPS. Perrigo’s quarterly revenue was down 2.0% compared to the same quarter last year. sell-side analysts expect that Perrigo Company will post 4.9 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Friday, December 1st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Thursday, November 30th. Perrigo’s payout ratio is presently -6.99%.
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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