Retirement Systems of Alabama boosted its position in Perrigo Company (NYSE:PRGO) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,515 shares of the company’s stock after buying an additional 210 shares during the period. Retirement Systems of Alabama’s holdings in Perrigo were worth $5,250,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in PRGO. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management purchased a new stake in shares of Perrigo during the second quarter worth approximately $14,700,000. Korea Investment CORP increased its stake in shares of Perrigo by 142.0% in the second quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock worth $101,000 after buying an additional 781 shares in the last quarter. Sei Investments Co. increased its stake in shares of Perrigo by 445.9% in the second quarter. Sei Investments Co. now owns 122,092 shares of the company’s stock worth $9,220,000 after buying an additional 99,725 shares in the last quarter. Sasco Capital Inc. CT increased its stake in shares of Perrigo by 17.8% in the second quarter. Sasco Capital Inc. CT now owns 1,435,762 shares of the company’s stock worth $108,429,000 after buying an additional 216,640 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Perrigo during the second quarter worth approximately $227,000. Institutional investors own 76.30% of the company’s stock.
Shares of Perrigo Company (NYSE:PRGO) opened at 77.69 on Friday. The firm’s market capitalization is $11.08 billion. Perrigo Company has a 12-month low of $63.68 and a 12-month high of $99.14. The company’s 50-day moving average price is $73.87 and its 200-day moving average price is $73.20.
Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Thursday, August 10th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.28. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.55%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.93 earnings per share. Analysts anticipate that Perrigo Company will post $4.58 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th will be issued a dividend of $0.16 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.64 annualized dividend and a dividend yield of 0.82%. Perrigo’s dividend payout ratio (DPR) is presently -3.51%.
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A number of analysts have commented on the company. Wells Fargo & Company reiterated a “market perform” rating and issued a $77.00 price objective on shares of Perrigo in a research report on Tuesday. Stifel Nicolaus reissued a “hold” rating on shares of Perrigo in a report on Friday, August 11th. Jefferies Group LLC reissued a “hold” rating and issued a $71.00 target price (up from $69.00) on shares of Perrigo in a report on Friday, August 11th. Royal Bank Of Canada increased their target price on Perrigo from $60.00 to $64.00 and gave the stock an “underperform” rating in a report on Friday, August 11th. Finally, Goldman Sachs Group, Inc. (The) raised Perrigo from a “sell” rating to a “neutral” rating and increased their target price for the stock from $66.00 to $79.00 in a report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $86.83.
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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