Public Employees Retirement Association of Colorado Reduces Position in Perrigo Company (NYSE:PRGO)
Public Employees Retirement Association of Colorado decreased its position in shares of Perrigo Company (NYSE:PRGO) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,435 shares of the company’s stock after selling 338 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Perrigo were worth $2,072,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of PRGO. Johnson Financial Group Inc. raised its position 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 worth $118,000 after buying an additional 240 shares during the last quarter. Global X Management Co. LLC raised its stake in 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. Middleton & Co Inc MA bought a new stake in Perrigo during the second quarter valued at $223,000. Teza Capital Management LLC bought a new stake in Perrigo during the first quarter valued at $205,000. Finally, Bank of Nova Scotia raised its stake in Perrigo by 2.5% in the first quarter. Bank of Nova Scotia now owns 3,219 shares of the company’s stock valued at $214,000 after buying an additional 80 shares in the last quarter. 76.38% of the stock is owned by hedge funds and other institutional investors.
Shares of Perrigo Company (NYSE PRGO) opened at 66.37 on Thursday. The stock has a 50 day moving average price of $73.38 and a 200-day moving average price of $72.99. Perrigo Company has a 12-month low of $63.68 and a 12-month high of $99.14. The stock’s market cap is $9.52 billion.
Perrigo (NYSE:PRGO) last announced its earnings results on Tuesday, May 30th. The company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.06. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. Perrigo had a negative net margin of 43.81% and a positive return on equity of 11.79%. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.32 EPS. Equities analysts anticipate that Perrigo Company will post $4.28 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Friday, August 25th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Wednesday, August 23rd. Perrigo’s payout ratio is presently -3.90%.
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PRGO has been the subject of several research reports. Wells Fargo & Company reissued a “market perform” rating and set a $67.00 price objective on shares of Perrigo in a research note on Friday, April 14th. Deutsche Bank AG reduced their price objective on Perrigo from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, April 19th. B. Riley reissued a “neutral” rating and set a $67.00 price objective on shares of Perrigo in a research note on Saturday, April 22nd. Jefferies Group LLC reissued a “hold” rating and set a $71.00 price objective on shares of Perrigo in a research note on Wednesday, May 24th. Finally, Canaccord Genuity set a $86.00 price objective on Perrigo and gave the stock a “buy” rating in a research note on Monday, May 22nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $84.97.
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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