Prudential Financial Inc. Decreases Position in Perrigo Company PLC (NYSE:PRGO)

Prudential Financial Inc. decreased its position in Perrigo Company PLC (NYSE:PRGO) by 9.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 150,666 shares of the company’s stock after selling 16,260 shares during the period. Prudential Financial Inc. owned about 0.11% of Perrigo worth $7,175,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SRS Capital Advisors Inc. acquired a new stake in Perrigo during the second quarter worth approximately $25,000. Financial Gravity Wealth Inc. grew its holdings in shares of Perrigo by 15,075.0% during the second quarter. Financial Gravity Wealth Inc. now owns 607 shares of the company’s stock valued at $29,000 after purchasing an additional 603 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Perrigo by 833.7% during the 1st quarter. Parallel Advisors LLC now owns 803 shares of the company’s stock worth $39,000 after purchasing an additional 717 shares during the period. CSat Investment Advisory L.P. raised its position in shares of Perrigo by 75.2% during the 1st quarter. CSat Investment Advisory L.P. now owns 1,067 shares of the company’s stock worth $51,000 after purchasing an additional 458 shares during the period. Finally, Bessemer Group Inc. acquired a new stake in shares of Perrigo during the 2nd quarter worth approximately $188,000. Institutional investors and hedge funds own 87.64% of the company’s stock.

In other news, Director Theodore R. Samuels II purchased 4,000 shares of Perrigo stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $46.97 per share, for a total transaction of $187,880.00. Following the acquisition, the director now directly owns 8,236 shares in the company, valued at $386,844.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ronald Winowiecki sold 826 shares of Perrigo stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $48.03, for a total value of $39,672.78. Following the sale, the chief financial officer now owns 6,952 shares of the company’s stock, valued at $333,904.56. The disclosure for this sale can be found here. 7.70% of the stock is owned by corporate insiders.

A number of research analysts recently issued reports on the company. Wells Fargo & Co restated a “hold” rating on shares of Perrigo in a research report on Tuesday, July 2nd. SunTrust Banks upped their price target on shares of Perrigo to $51.00 and gave the stock a “hold” rating in a research report on Monday, May 20th. ValuEngine upgraded shares of Perrigo from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Cantor Fitzgerald cut their price objective on shares of Perrigo from $107.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $55.14.

Shares of Perrigo stock traded up $1.59 on Wednesday, reaching $54.36. 43,227 shares of the company were exchanged, compared to its average volume of 1,219,154. Perrigo Company PLC has a fifty-two week low of $36.28 and a fifty-two week high of $75.72. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 5.16 and a beta of 1.44. The company has a current ratio of 1.92, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average price of $49.12 and a 200-day moving average price of $48.44.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. Perrigo had a net margin of 1.87% and a return on equity of 9.57%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm earned $1.22 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. On average, equities analysts anticipate that Perrigo Company PLC will post 3.94 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th will be issued a $0.21 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.55%. Perrigo’s dividend payout ratio is 18.46%.

About Perrigo

Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.

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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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