Neuberger Berman Group LLC increased its stake in shares of Perrigo Company (NYSE:PRGO) by 0.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 697,981 shares of the company’s stock after buying an additional 597 shares during the quarter. Neuberger Berman Group LLC owned about 0.50% of Perrigo worth $59,084,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. California Public Employees Retirement System lifted its position in Perrigo by 3.9% in the third quarter. California Public Employees Retirement System now owns 284,066 shares of the company’s stock valued at $24,046,000 after purchasing an additional 10,766 shares during the period. Point72 Asset Management L.P. acquired a new stake in Perrigo in the third quarter valued at about $12,706,000. Beacon Investment Advisory Services Inc. lifted its position in Perrigo by 100.0% in the third quarter. Beacon Investment Advisory Services Inc. now owns 8,000 shares of the company’s stock valued at $678,000 after purchasing an additional 4,000 shares during the period. Highbridge Capital Management LLC acquired a new stake in Perrigo in the third quarter valued at about $442,000. Finally, Vident Investment Advisory LLC lifted its position in Perrigo by 365.8% in the third quarter. Vident Investment Advisory LLC now owns 18,454 shares of the company’s stock valued at $1,562,000 after purchasing an additional 14,492 shares during the period. 85.53% of the stock is currently owned by hedge funds and other institutional investors.
PRGO has been the subject of a number of research reports. Barclays lifted their price target on shares of Perrigo to $93.00 and gave the company an “overweight” rating in a research report on Monday, December 4th. Royal Bank of Canada reiterated a “sell” rating and set a $64.00 price target on shares of Perrigo in a research report on Wednesday, September 13th. Deutsche Bank lifted their price target on shares of Perrigo from $88.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, September 14th. Oppenheimer initiated coverage on shares of Perrigo in a research report on Monday, October 2nd. They set a “buy” rating and a $88.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on shares of Perrigo to $90.00 and gave the company a “market perform” rating in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $92.13.
Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Thursday, November 9th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.28. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm posted $1.65 EPS. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. analysts predict that Perrigo Company will post 4.88 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Friday, December 1st will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.74%. Perrigo’s dividend payout ratio is currently -6.99%.
In related news, EVP John Wesolowski sold 450 shares of Perrigo stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $83.09, for a total transaction of $37,390.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 1,051 shares of company stock valued at $89,810 over the last 90 days. Insiders own 6.90% of the company’s stock.
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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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