Nuveen Asset Management LLC decreased its stake in Perrigo Company (NYSE:PRGO) by 14.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,838 shares of the company’s stock after selling 1,132 shares during the period. Nuveen Asset Management LLC’s holdings in Perrigo were worth $454,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Retirement Systems of Alabama raised its position in Perrigo by 2.0% in the first quarter. Retirement Systems of Alabama now owns 69,305 shares of the company’s stock valued at $4,601,000 after buying an additional 1,348 shares during the period. State of Alaska Department of Revenue purchased a new position in Perrigo during the first quarter valued at approximately $214,000. Sanders Morris Harris Inc. raised its position in Perrigo by 28.9% in the first quarter. Sanders Morris Harris Inc. now owns 49,000 shares of the company’s stock valued at $3,253,000 after buying an additional 11,000 shares during the period. Moon Capital Management LLC raised its position in Perrigo by 0.6% in the first quarter. Moon Capital Management LLC now owns 43,265 shares of the company’s stock valued at $2,872,000 after buying an additional 240 shares during the period. Finally, Fox Run Management L.L.C. raised its position in Perrigo by 17.2% in the first quarter. Fox Run Management L.L.C. now owns 7,500 shares of the company’s stock valued at $498,000 after buying an additional 1,100 shares during the period. Hedge funds and other institutional investors own 76.38% of the company’s stock.
Perrigo Company (NYSE PRGO) traded up 15.78% during trading on Thursday, reaching $76.84. 10,424,541 shares of the company’s stock were exchanged. Perrigo Company has a 52 week low of $63.68 and a 52 week high of $99.14. The firm’s market capitalization is $11.02 billion. The stock has a 50-day moving average price of $73.38 and a 200 day moving average price of $72.99.
Perrigo (NYSE:PRGO) last issued its earnings results on Thursday, August 10th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $0.94 by $0.28. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.18 billion. Perrigo had a negative net margin of 43.81% and a positive return on equity of 11.79%. The business’s revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.93 EPS. Equities research analysts forecast that Perrigo Company will post $4.28 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.64 annualized dividend and a dividend yield of 0.83%. Perrigo’s payout ratio is currently -3.90%.
Several research firms recently commented on PRGO. Royal Bank Of Canada reiterated a “hold” rating and set a $68.00 price objective on shares of Perrigo in a research note on Wednesday, May 3rd. Cantor Fitzgerald set a $85.00 price target on shares of Perrigo and gave the company a “buy” rating in a research note on Monday, July 24th. BidaskClub lowered shares of Perrigo from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. ValuEngine lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Barclays PLC restated an “overweight” rating and set a $85.00 price target (down previously from $100.00) on shares of Perrigo in a research note on Thursday, June 1st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $84.60.
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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