Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management lifted its holdings in shares of Perrigo Company PLC (NYSE:PRGO) by 457.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,677,199 shares of the company’s stock after buying an additional 1,376,543 shares during the period. Perrigo comprises 6.9% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s investment portfolio, making the stock its 3rd biggest holding. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management owned approximately 1.23% of Perrigo worth $118,746,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. United Services Automobile Association increased its stake in Perrigo by 10.1% in the 2nd quarter. United Services Automobile Association now owns 47,810 shares of the company’s stock valued at $3,486,000 after purchasing an additional 4,400 shares in the last quarter. Royal London Asset Management Ltd. purchased a new position in Perrigo in the 2nd quarter valued at approximately $4,070,000. Northern Trust Corp increased its stake in Perrigo by 3.7% in the 2nd quarter. Northern Trust Corp now owns 1,456,879 shares of the company’s stock valued at $106,221,000 after purchasing an additional 52,106 shares in the last quarter. Exane Asset Management purchased a new position in Perrigo in the 2nd quarter valued at approximately $205,000. Finally, Bank of New York Mellon Corp increased its stake in Perrigo by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,064,952 shares of the company’s stock valued at $77,644,000 after purchasing an additional 31,582 shares in the last quarter. 82.04% of the stock is owned by institutional investors and hedge funds.
In other Perrigo news, EVP Svend Andersen acquired 7,200 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were acquired at an average price of $69.43 per share, for a total transaction of $499,896.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.90% of the stock is owned by company insiders.
Several equities analysts have weighed in on the company. Cantor Fitzgerald reissued a “buy” rating and set a $107.00 price target on shares of Perrigo in a research report on Monday. ValuEngine raised Perrigo from a “strong sell” rating to a “sell” rating in a research report on Saturday. Wells Fargo & Co dropped their price target on Perrigo from $84.00 to $77.00 and set a “market perform” rating for the company in a research report on Tuesday, August 21st. Canaccord Genuity set a $90.00 price target on Perrigo and gave the stock a “buy” rating in a research report on Friday, August 17th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $73.00 price target on shares of Perrigo in a research report on Friday, August 10th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $88.07.
PRGO stock opened at $72.80 on Tuesday. Perrigo Company PLC has a 52-week low of $67.53 and a 52-week high of $95.93. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.23 and a current ratio of 1.81. The firm has a market cap of $9.69 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 2.29 and a beta of 0.84.
Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Thursday, August 9th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.01. Perrigo had a return on equity of 11.92% and a net margin of 4.77%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the firm earned $1.22 earnings per share. The business’s revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts predict that Perrigo Company PLC will post 4.85 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 18th. Stockholders of record on Friday, August 31st were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Thursday, August 30th. Perrigo’s dividend payout ratio (DPR) is 15.42%.
Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.
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