CIBC World Markets Inc. Takes Position in Perrigo Company (PRGO)

CIBC World Markets Inc. bought a new position in Perrigo Company (NYSE:PRGO) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,908 shares of the company’s stock, valued at approximately $1,277,000.

A number of other hedge funds have also recently modified their holdings of PRGO. BlackRock Inc. lifted its position in Perrigo by 3,825.1% in the first quarter. BlackRock Inc. now owns 12,154,494 shares of the company’s stock worth $806,936,000 after purchasing an additional 11,844,832 shares during the period. Aberdeen Asset Management PLC UK lifted its position in Perrigo by 65.2% in the first quarter. Aberdeen Asset Management PLC UK now owns 3,028,619 shares of the company’s stock worth $201,070,000 after purchasing an additional 1,195,526 shares during the period. Vanguard Group Inc. lifted its position in Perrigo by 4.5% in the first quarter. Vanguard Group Inc. now owns 14,574,768 shares of the company’s stock worth $967,619,000 after purchasing an additional 633,343 shares during the period. North Tide Capital LLC bought a new position in Perrigo in the first quarter worth $39,834,000. Finally, State Street Corp lifted its position in Perrigo by 8.5% in the first quarter. State Street Corp now owns 6,644,799 shares of the company’s stock worth $441,153,000 after purchasing an additional 520,967 shares during the period. 80.36% of the stock is owned by hedge funds and other institutional investors.

Shares of Perrigo Company (NYSE PRGO) opened at 88.89 on Friday. Perrigo Company has a 12 month low of $63.68 and a 12 month high of $99.14. The firm’s market capitalization is $12.68 billion. The company has a 50-day moving average price of $77.25 and a 200-day moving average price of $73.22.

Perrigo (NYSE:PRGO) last posted its earnings results on Thursday, August 10th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $0.94 by $0.28. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. Perrigo had a positive return on equity of 11.55% and a negative net margin of 51.04%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the company earned $1.93 earnings per share. Equities analysts forecast that Perrigo Company will post $4.58 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.72%. Perrigo’s dividend payout ratio (DPR) is -3.51%.

A number of research analysts have issued reports on the company. Royal Bank Of Canada reissued a “sell” rating and set a $64.00 price objective on shares of Perrigo in a report on Wednesday. Wells Fargo & Company reissued a “market perform” rating and set a $77.00 price objective on shares of Perrigo in a report on Tuesday, August 15th. Stifel Nicolaus reissued a “hold” rating on shares of Perrigo in a report on Friday, August 11th. Canaccord Genuity set a $80.00 price objective on Perrigo and gave the company a “buy” rating in a report on Wednesday, May 31st. Finally, Deutsche Bank AG lifted their price objective on Perrigo from $88.00 to $95.00 and gave the company a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. Perrigo has a consensus rating of “Hold” and an average price target of $89.36.

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In related news, EVP Sharon Kochan sold 318 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $81.36, for a total transaction of $25,872.48. Following the completion of the sale, the executive vice president now owns 10,231 shares of the company’s stock, valued at $832,394.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas Farrington sold 616 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $76.90, for a total value of $47,370.40. Following the sale, the executive vice president now directly owns 2,724 shares of the company’s stock, valued at approximately $209,475.60. The disclosure for this sale can be found here. Insiders have sold 6,894 shares of company stock valued at $581,320 over the last 90 days. 6.90% of the stock is owned by corporate insiders.

Perrigo 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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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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