Schwab Charles Investment Management Inc. lifted its holdings in shares of Perrigo Company (NYSE:PRGO) by 4.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 429,676 shares of the company’s stock after purchasing an additional 18,095 shares during the period. Schwab Charles Investment Management Inc. owned 0.30% of Perrigo worth $32,450,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Korea Investment CORP boosted its holdings in Perrigo by 142.0% in the second quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock valued at $101,000 after acquiring an additional 781 shares during the last quarter. Johnson Financial Group Inc. boosted its holdings in Perrigo by 15.6% in the first quarter. Johnson Financial Group Inc. now owns 1,775 shares of the company’s stock valued at $118,000 after acquiring an additional 240 shares during the last quarter. Global X Management Co. LLC boosted its holdings in Perrigo by 56.4% in the first quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock valued at $157,000 after acquiring an additional 855 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Perrigo by 1,046.2% in the second quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock valued at $169,000 after acquiring an additional 2,040 shares during the last quarter. Finally, Teza Capital Management LLC bought a new position in Perrigo in the first quarter valued at about $205,000. Institutional investors own 80.36% of the company’s stock.
Shares of Perrigo Company (PRGO) opened at 89.01 on Wednesday. Perrigo Company has a 1-year low of $63.68 and a 1-year high of $99.14. The company has a 50-day moving average price of $76.16 and a 200 day moving average price of $72.96. The company’s market capitalization is $12.69 billion.
Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Thursday, August 10th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.28. Perrigo had a positive return on equity of 11.55% and a negative net margin of 51.04%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the company earned $1.93 earnings per share. Perrigo’s revenue was down 7.7% compared to the same quarter last year. Equities research analysts anticipate that Perrigo Company will post $4.58 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Wednesday, August 23rd. Perrigo’s payout ratio is currently -3.51%.
Several equities analysts recently issued reports on the company. Goldman Sachs Group, Inc. (The) upgraded Perrigo from a “sell” rating to a “neutral” rating and raised their price target for the company from $66.00 to $79.00 in a report on Friday, August 11th. Jefferies Group LLC reiterated a “hold” rating and issued a $71.00 price target (up previously from $69.00) on shares of Perrigo in a report on Friday, August 11th. Stifel Nicolaus reiterated a “hold” rating on shares of Perrigo in a report on Friday, August 11th. Cantor Fitzgerald raised their price target on Perrigo from $93.00 to $107.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Oppenheimer Holdings, Inc. assumed coverage on Perrigo in a report on Thursday, September 7th. They issued an “outperform” rating and a $88.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Perrigo presently has a consensus rating of “Hold” and a consensus price target of $88.00.
In related news, EVP Thomas Farrington sold 616 shares of the stock in a transaction 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 owns 2,724 shares in the company, valued at $209,475.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sharon Kochan sold 318 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $81.36, for a total value of $25,872.48. Following the completion of the sale, the executive vice president now owns 10,231 shares in the company, valued at approximately $832,394.16. The disclosure for this sale can be found here. Insiders sold 3,299 shares of company stock valued at $259,604 over the last ninety days. Corporate insiders own 6.90% of the company’s stock.
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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