Several other research firms have also issued reports on PRGO. Cantor Fitzgerald set a $107.00 price target on Perrigo and gave the stock a buy rating in a research report on Monday, December 4th. Jefferies Group set a $71.00 price target on Perrigo and gave the stock a hold rating in a research report on Sunday, October 29th. Argus upgraded Perrigo from a hold rating to a buy rating and set a $93.00 price target on the stock 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. Finally, Oppenheimer initiated coverage on Perrigo in a research report on Thursday, September 7th. They issued an outperform rating and a $88.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Perrigo currently has a consensus rating of Hold and a consensus target price of $92.13.
Perrigo (PRGO) traded down $0.11 during trading hours on Monday, hitting $87.16. The stock had a trading volume of 442,300 shares, compared to its average volume of 1,654,465. Perrigo has a 1-year low of $63.68 and a 1-year high of $91.73. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.72 and a quick ratio of 1.24. The company has a market cap of $12,275.68, a price-to-earnings ratio of -9.52, a P/E/G ratio of 1.86 and a beta of 0.70.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 19th. Shareholders of record on Friday, December 1st were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 0.73%. Perrigo’s dividend payout ratio is presently -6.99%.
In other Perrigo news, VP Todd W. Kingma sold 1,500 shares of Perrigo stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $88.52, for a total value of $132,780.00. Following the sale, the vice president now owns 19,565 shares of the company’s stock, valued at approximately $1,731,893.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Wesolowski sold 450 shares of Perrigo stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $83.09, for a total value of $37,390.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,051 shares of company stock worth $355,370. Corporate insiders own 6.90% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Perrigo by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 14,874,096 shares of the company’s stock valued at $1,123,292,000 after purchasing an additional 299,328 shares during the period. Franklin Resources Inc. increased its position in shares of Perrigo by 117.7% in the second quarter. Franklin Resources Inc. now owns 8,109,742 shares of the company’s stock valued at $612,448,000 after acquiring an additional 4,383,903 shares during the last quarter. State Street Corp increased its position in shares of Perrigo by 1.7% in the second quarter. State Street Corp now owns 6,757,086 shares of the company’s stock valued at $510,294,000 after acquiring an additional 112,287 shares during the last quarter. Greenlight Capital Inc. increased its position in shares of Perrigo by 14.8% in the third quarter. Greenlight Capital Inc. now owns 2,901,032 shares of the company’s stock valued at $245,572,000 after acquiring an additional 374,032 shares during the last quarter. Finally, Parnassus Investments CA increased its position in shares of Perrigo by 7.1% in the third quarter. Parnassus Investments CA now owns 2,257,000 shares of the company’s stock valued at $191,055,000 after acquiring an additional 150,000 shares during the last quarter. 83.29% of the stock is currently owned by hedge funds and other institutional investors.
Perrigo Company Profile
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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