Several other brokerages have also recently issued reports on PRGO. Jefferies Group set a $71.00 price target on shares of Perrigo and gave the company a hold rating in a research report on Sunday, October 29th. Argus upgraded shares of Perrigo from a hold rating to a buy rating and set a $93.00 price target for the company in a research report on Friday, December 8th. UBS Group restated a buy rating and issued a $98.00 price target (up from $84.00) on shares of Perrigo in a research report on Thursday, October 5th. Canaccord Genuity set a $100.00 price target on shares of Perrigo and gave the company a buy rating in a research report on Monday, January 1st. Finally, BidaskClub upgraded shares of Perrigo from a sell rating to a hold rating in a research report on Saturday, September 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Perrigo presently has an average rating of Hold and an average target price of $92.00.
Shares of Perrigo (NYSE PRGO) traded down $0.19 during midday trading on Friday, reaching $91.80. 559,679 shares of the company’s stock traded hands, compared to its average volume of 872,168. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.72. Perrigo has a 1 year low of $63.68 and a 1 year high of $92.75. The firm has a market cap of $12,955.94, a PE ratio of -10.02, a P/E/G ratio of 1.94 and a beta of 0.70.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 19th. Stockholders of record on Friday, December 1st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Thursday, November 30th. Perrigo’s dividend payout ratio (DPR) is presently -6.99%.
In other news, VP Todd W. Kingma sold 1,500 shares of the stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $88.52, for a total transaction of $132,780.00. Following the completion of the sale, the vice president now directly owns 19,565 shares in the company, valued at $1,731,893.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John Wesolowski sold 388 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $87.20, for a total transaction of $33,833.60. Following the transaction, the executive vice president now directly owns 248 shares in the company, valued at $21,625.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,051 shares of company stock valued at $355,370. 6.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of PRGO. State of Tennessee Treasury Department boosted its stake in Perrigo by 0.3% during the second quarter. State of Tennessee Treasury Department now owns 39,214 shares of the company’s stock worth $2,961,000 after acquiring an additional 103 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Perrigo by 14.3% during the second quarter. JPMorgan Chase & Co. now owns 83,822 shares of the company’s stock worth $6,331,000 after acquiring an additional 10,461 shares in the last quarter. Engineers Gate Manager LP bought a new position in Perrigo during the second quarter worth $712,000. Commonwealth Bank of Australia boosted its stake in Perrigo by 13.8% during the second quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock worth $108,000 after acquiring an additional 176 shares in the last quarter. Finally, CIBC World Markets Inc. bought a new position in Perrigo during the second quarter worth $1,277,000. 83.29% of the stock is currently owned by institutional investors and hedge funds.
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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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