Geoffrey M. Parker Buys 2,500 Shares of Perrigo Co. (PRGO) Stock
Perrigo Co. (NYSE:PRGO) Director Geoffrey M. Parker bought 2,500 shares of the company’s stock in a transaction dated Monday, November 21st. The stock was bought at an average cost of $88.75 per share, with a total value of $221,875.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Perrigo (NYSE:PRGO) last released its quarterly earnings data on Thursday, November 10th. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.07. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.28 billion. Perrigo had a positive return on equity of 10.78% and a negative net margin of 26.62%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.76 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Friday, November 25th will be given a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Tuesday, November 22nd. Perrigo’s payout ratio is -5.53%.
Several institutional investors have recently bought and sold shares of PRGO. Parnassus Investments CA increased its position in Perrigo by 53.7% in the second quarter. Parnassus Investments CA now owns 5,498,887 shares of the company’s stock valued at $498,584,000 after buying an additional 1,922,347 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in Perrigo by 13.0% in the third quarter. Brown Brothers Harriman & Co. now owns 4,841,742 shares of the company’s stock valued at $447,038,000 after buying an additional 557,155 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Perrigo by 2.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,702,709 shares of the company’s stock valued at $341,871,000 after buying an additional 76,809 shares during the last quarter. Scopia Capital Management LP purchased a new position in Perrigo during the third quarter valued at approximately $279,068,000. Finally, Franklin Resources Inc. increased its position in Perrigo by 1.3% in the second quarter. Franklin Resources Inc. now owns 2,661,431 shares of the company’s stock valued at $241,311,000 after buying an additional 33,921 shares during the last quarter. 65.78% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on PRGO. Leerink Swann set a $81.00 target price on Perrigo and gave the stock a “hold” rating in a report on Wednesday, August 10th. Vetr cut Perrigo from a “buy” rating to a “hold” rating and set a $98.60 target price for the company. in a report on Tuesday, August 9th. RBC Capital Markets set a $92.00 target price on Perrigo and gave the stock a “hold” rating in a report on Monday, October 24th. Deutsche Bank AG reissued a “buy” rating and issued a $105.00 target price on shares of Perrigo in a report on Tuesday, September 13th. Finally, Guggenheim set a $125.00 target price on Perrigo and gave the stock a “buy” rating in a report on Thursday, September 15th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the company. Perrigo presently has a consensus rating of “Hold” and a consensus target price of $109.45.
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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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