Poplar Forest Capital LLC boosted its position in Perrigo Company (NYSE:PRGO) by 94.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,790 shares of the company’s stock after purchasing an additional 7,190 shares during the quarter. Poplar Forest Capital LLC’s holdings in Perrigo were worth $1,117,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BB&T Securities LLC grew its holdings in Perrigo by 0.4% in the 2nd quarter. BB&T Securities LLC now owns 9,062 shares of the company’s stock valued at $684,000 after buying an additional 35 shares in the last quarter. Shufro Rose & Co. LLC grew its holdings in Perrigo by 1.2% in the 2nd quarter. Shufro Rose & Co. LLC now owns 5,415 shares of the company’s stock valued at $409,000 after buying an additional 65 shares in the last quarter. Bank of Nova Scotia grew its holdings in Perrigo by 2.5% in the 1st quarter. Bank of Nova Scotia now owns 3,219 shares of the company’s stock valued at $214,000 after buying an additional 80 shares in the last quarter. Advantus Capital Management Inc grew its holdings in Perrigo by 0.6% in the 1st quarter. Advantus Capital Management Inc now owns 14,299 shares of the company’s stock valued at $949,000 after buying an additional 86 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in Perrigo by 0.3% in the 1st quarter. Arizona State Retirement System now owns 35,500 shares of the company’s stock valued at $2,357,000 after buying an additional 100 shares in the last quarter. 80.36% of the stock is owned by hedge funds and other institutional investors.
Perrigo Company (PRGO) traded down 2.22% during midday trading on Friday, reaching $86.90. The company’s stock had a trading volume of 3,571,502 shares. The company has a 50 day moving average of $77.62 and a 200-day moving average of $73.23. Perrigo Company has a 1-year low of $63.68 and a 1-year high of $99.14. The company’s market capitalization is $12.39 billion.
Perrigo (NYSE:PRGO) last released its quarterly earnings results on Thursday, August 10th. The company reported $1.22 EPS for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the firm posted $1.93 earnings per share. The company’s revenue was down 7.7% compared to the same quarter last year. Equities research analysts anticipate that Perrigo Company will post $4.58 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Friday, August 25th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Wednesday, August 23rd. Perrigo’s dividend payout ratio (DPR) is -3.51%.
Several analysts have issued reports on PRGO shares. Royal Bank Of Canada set a $60.00 target price on Perrigo and gave the company a “sell” rating in a report on Sunday, July 16th. Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $68.00 target price on shares of Perrigo in a report on Wednesday, May 31st. Deutsche Bank AG restated a “buy” rating and issued a $88.00 target price (up from $86.00) on shares of Perrigo in a report on Monday, July 17th. Canaccord Genuity set a $86.00 target price on Perrigo and gave the company a “buy” rating in a report on Monday, May 22nd. Finally, BidaskClub upgraded Perrigo from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $89.36.
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In other Perrigo news, EVP Thomas Farrington sold 865 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $78.40, for a total transaction of $67,816.00. Following the sale, the executive vice president now owns 2,870 shares in the company, valued at $225,008. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey Needham sold 3,595 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $89.49, for a total value of $321,716.55. Following the sale, the executive vice president now owns 10,118 shares in the company, valued at approximately $905,459.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,894 shares of company stock worth $581,320. 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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