Clal Insurance Enterprises Holdings Ltd Sells 525,123 Shares of Perrigo Company (PRGO)
Clal Insurance Enterprises Holdings Ltd cut its position in shares of Perrigo Company (NYSE:PRGO) by 46.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 605,285 shares of the company’s stock after selling 525,123 shares during the period. Perrigo comprises approximately 0.9% of Clal Insurance Enterprises Holdings Ltd’s investment portfolio, making the stock its 26th largest position. Clal Insurance Enterprises Holdings Ltd owned about 0.42% of Perrigo worth $45,711,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in PRGO. Korea Investment CORP boosted 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 valued at $101,000 after buying an additional 781 shares during the period. Johnson Financial Group Inc. boosted its stake in Perrigo by 15.6% in the first quarter. Johnson Financial Group Inc. now owns 1,775 shares of the company’s stock valued at $118,000 after buying an additional 240 shares during the last quarter. Global X Management Co. LLC boosted its stake in Perrigo by 56.4% in the first quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock valued at $157,000 after buying an additional 855 shares during the last quarter. Bessemer Group Inc. boosted its stake 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 buying an additional 2,040 shares during the last quarter. Finally, Teza Capital Management LLC acquired a new stake in Perrigo during the first quarter valued at $205,000. 80.35% of the stock is currently owned by institutional investors and hedge funds.
Perrigo Company (NYSE:PRGO) opened at 79.22 on Friday. Perrigo Company has a 52-week low of $63.68 and a 52-week high of $99.14. The stock’s 50 day moving average is $74.98 and its 200-day moving average is $73.22. The company’s market cap is $11.30 billion.
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, beating the consensus estimate of $0.94 by $0.28. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.55%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the company earned $1.93 earnings per share. Perrigo’s quarterly revenue was down 7.7% on a year-over-year basis. Equities research analysts predict that Perrigo Company will post $4.58 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Friday, August 25th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Wednesday, August 23rd. Perrigo’s dividend payout ratio is currently -3.51%.
PRGO has been the subject of several research analyst reports. Goldman Sachs Group, Inc. (The) upgraded shares of Perrigo from a “sell” rating to a “neutral” rating and upped their price target for the stock from $66.00 to $79.00 in a report on Friday, August 11th. Royal Bank Of Canada reiterated a “hold” rating and set a $66.00 price target on shares of Perrigo in a report on Wednesday, May 24th. Deutsche Bank AG reiterated a “buy” rating and set a $88.00 price target (up from $86.00) on shares of Perrigo in a report on Monday, July 17th. Canaccord Genuity set a $86.00 price target on shares of Perrigo and gave the stock a “buy” rating in a report on Monday, May 22nd. Finally, Cantor Fitzgerald initiated coverage on shares of Perrigo in a report on Friday, June 16th. They set an “overweight” rating and a $85.00 price target for the company. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. Perrigo presently has a consensus rating of “Hold” and an average price target of $86.83.
In related news, EVP Thomas Farrington sold 865 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $78.40, for a total transaction of $67,816.00. Following the transaction, the executive vice president now owns 2,870 shares in the company, valued at $225,008. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.90% of the stock is owned by insiders.
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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