Analyst IMS Investment Management Services Ltd. boosted its stake in shares of Perrigo Company (NYSE:PRGO) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,284 shares of the company’s stock after buying an additional 1,251 shares during the period. Perrigo Company comprises about 1.0% of Analyst IMS Investment Management Services Ltd.’s holdings, making the stock its 25th largest position. Analyst IMS Investment Management Services Ltd.’s holdings in Perrigo Company were worth $2,614,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Perrigo Company by 10.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 279,474 shares of the company’s stock worth $23,256,000 after buying an additional 26,321 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Perrigo Company during the fourth quarter worth approximately $1,384,000. Highbridge Capital Management LLC purchased a new position in shares of Perrigo Company during the fourth quarter worth approximately $11,870,000. Moon Capital Management LLC increased its position in shares of Perrigo Company by 0.6% in the first quarter. Moon Capital Management LLC now owns 43,265 shares of the company’s stock worth $2,872,000 after buying an additional 240 shares in the last quarter. Finally, FMR LLC increased its position in shares of Perrigo Company by 31.1% in the fourth quarter. FMR LLC now owns 1,088,928 shares of the company’s stock worth $90,632,000 after buying an additional 258,133 shares in the last quarter. Hedge funds and other institutional investors own 76.35% of the company’s stock.
Shares of Perrigo Company (NYSE:PRGO) opened at 73.02 on Friday. The stock’s market cap is $10.47 billion. Perrigo Company has a 12 month low of $65.47 and a 12 month high of $99.41. The company has a 50-day moving average price of $72.68 and a 200-day moving average price of $75.49.
Perrigo Company (NYSE:PRGO) last announced its earnings results on Tuesday, May 30th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.06. Perrigo Company had a positive return on equity of 11.79% and a negative net margin of 43.81%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business posted $1.32 EPS. The company’s revenue was down 11.4% on a year-over-year basis. On average, analysts expect that Perrigo Company will post $4.28 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 13th. Shareholders of record on Friday, May 26th were paid a $0.16 dividend. The ex-dividend date was Wednesday, May 24th. This represents a $0.64 annualized dividend and a dividend yield of 0.88%. Perrigo Company’s dividend payout ratio (DPR) is currently -3.90%.
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A number of equities analysts have commented on PRGO shares. Royal Bank Of Canada reduced their target price on shares of Perrigo Company to $68.00 in a report on Tuesday, February 28th. Guggenheim reiterated a “buy” rating and issued a $125.00 target price on shares of Perrigo Company in a report on Tuesday, February 28th. Canaccord Genuity assumed coverage on shares of Perrigo Company in a report on Tuesday, February 21st. They set a “buy” rating and a $100.00 price objective on the stock. Deutsche Bank AG cut their price objective on shares of Perrigo Company from $93.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, March 14th. Finally, Jefferies Group LLC set a $71.00 price objective on shares of Perrigo Company and gave the company a “hold” rating in a report on Tuesday, February 28th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. Perrigo Company currently has an average rating of “Hold” and a consensus target price of $84.44.
About Perrigo Company
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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