Cornerstone Capital Management Holdings LLC. decreased its position in Perrigo Company (NYSE:PRGO) by 7.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,781 shares of the company’s stock after selling 1,722 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Perrigo were worth $1,927,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in PRGO. Commonwealth Bank of Australia raised its position in Perrigo by 13.8% in the second quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock valued at $108,000 after purchasing an additional 176 shares during the period. Bessemer Group Inc. raised its position in Perrigo by 1,046.2% in the second quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock valued at $169,000 after purchasing an additional 2,040 shares during the period. Allianz Asset Management GmbH purchased a new stake in Perrigo in the third quarter valued at approximately $217,000. Conning Inc. acquired a new position in shares of Perrigo in the third quarter worth $219,000. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Perrigo in the second quarter worth $221,000. 83.32% of the stock is currently owned by institutional investors.
Perrigo Company (PRGO) opened at $87.18 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.72. The company has a market cap of $12,186.95, a price-to-earnings ratio of 17.66, a P/E/G ratio of 1.84 and a beta of 0.70. Perrigo Company has a 12 month low of $63.68 and a 12 month high of $91.73.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 19th. Investors of record on Friday, December 1st were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.73%. Perrigo’s payout ratio is currently -6.99%.
Several equities analysts have commented on PRGO shares. Canaccord Genuity restated a “buy” rating and issued a $100.00 price target (up previously from $88.00) on shares of Perrigo in a research note on Wednesday, September 13th. Cantor Fitzgerald set a $107.00 price target on shares of Perrigo and gave the stock a “buy” rating in a research note on Friday, October 20th. UBS restated a “buy” rating and issued a $98.00 price target (up previously from $84.00) on shares of Perrigo in a research note on Thursday, October 5th. Oppenheimer started coverage on shares of Perrigo in a research note on Monday, October 2nd. They issued a “buy” rating and a $88.00 price target for the company. Finally, Deutsche Bank boosted their price target on shares of Perrigo from $88.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $92.13.
In related news, EVP John Wesolowski sold 450 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were 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 is available at this hyperlink. In the last quarter, insiders have sold 1,051 shares of company stock valued at $89,810. 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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