Janus Henderson Group PLC lowered its stake in Perrigo Company (NYSE:PRGO) by 15.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,835 shares of the company’s stock after selling 6,741 shares during the quarter. Janus Henderson Group PLC’s holdings in Perrigo were worth $3,203,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Commonwealth Bank of Australia raised its position in Perrigo by 13.8% in the second quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock worth $108,000 after acquiring an additional 176 shares during the period. Allianz Asset Management GmbH bought a new position in Perrigo in the third quarter worth approximately $217,000. Conning Inc. bought a new position in Perrigo in the third quarter worth approximately $219,000. BlueCrest Capital Management Ltd bought a new position in Perrigo in the second quarter worth approximately $221,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Perrigo in the third quarter worth approximately $222,000. Institutional investors own 83.29% of the company’s stock.
PRGO has been the topic of several recent analyst reports. Royal Bank of Canada upgraded shares of Perrigo from an “underperform” rating to a “sector perform” rating and raised their price objective for the company from $64.00 to $86.00 in a research report on Friday, November 10th. Jefferies Group set a $71.00 target price on shares of Perrigo and gave the company a “hold” rating in a research note on Sunday, October 29th. UBS Group reaffirmed a “buy” rating and set a $98.00 target price (up from $84.00) on shares of Perrigo in a research note on Thursday, October 5th. Cantor Fitzgerald set a $107.00 target price on shares of Perrigo and gave the company a “buy” rating in a research note on Saturday, December 16th. Finally, Oppenheimer initiated coverage on shares of Perrigo in a research note on Monday, October 2nd. They issued a “buy” rating and a $88.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $92.00.
Shares of Perrigo Company (NYSE PRGO) opened at $91.80 on Friday. Perrigo Company has a twelve month low of $63.68 and a twelve month high of $92.75. The firm has a market cap of $12,955.94, a PE ratio of -10.02, a P/E/G ratio of 1.94 and a beta of 0.70. The company has a current ratio of 1.72, a quick ratio of 1.24 and a debt-to-equity ratio of 0.54.
Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Thursday, November 9th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business posted $1.65 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. equities analysts forecast that Perrigo Company will post 4.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 19th. Stockholders of record on Friday, December 1st were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.70%. Perrigo’s dividend payout ratio is currently -6.99%.
In other Perrigo news, VP Todd W. Kingma sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $88.52, for a total transaction of $132,780.00. Following the sale, the vice president now owns 19,565 shares of the company’s stock, valued at approximately $1,731,893.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP John Wesolowski sold 388 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $87.20, for a total transaction of $33,833.60. Following the sale, the executive vice president now directly owns 248 shares in the company, valued at approximately $21,625.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,051 shares of company stock valued at $355,370. Company insiders own 6.90% of the company’s stock.
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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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