Fiduciary Trust Co. Has $285,000 Stake in Perrigo Company (PRGO)
Fiduciary Trust Co. lifted its stake in shares of Perrigo Company (NYSE:PRGO) by 0.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,773 shares of the company’s stock after acquiring an additional 2 shares during the quarter. Fiduciary Trust Co.’s holdings in Perrigo were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its holdings in Perrigo by 3,825.1% in the first quarter. BlackRock Inc. now owns 12,154,494 shares of the company’s stock worth $806,936,000 after purchasing an additional 11,844,832 shares in the last quarter. Aberdeen Asset Management PLC UK increased its holdings in Perrigo by 65.2% in the first quarter. Aberdeen Asset Management PLC UK now owns 3,028,619 shares of the company’s stock worth $201,070,000 after purchasing an additional 1,195,526 shares in the last quarter. Vanguard Group Inc. increased its holdings in Perrigo by 4.5% in the first quarter. Vanguard Group Inc. now owns 14,574,768 shares of the company’s stock worth $967,619,000 after purchasing an additional 633,343 shares in the last quarter. North Tide Capital LLC bought a new stake in Perrigo in the first quarter worth approximately $39,834,000. Finally, State Street Corp increased its holdings in Perrigo by 8.5% in the first quarter. State Street Corp now owns 6,644,799 shares of the company’s stock worth $441,153,000 after purchasing an additional 520,967 shares in the last quarter. Institutional investors own 80.36% of the company’s stock.
Perrigo Company (PRGO) opened at 82.79 on Monday. The stock’s market cap is $11.81 billion. Perrigo Company has a 52-week low of $63.68 and a 52-week high of $99.14. The firm has a 50-day moving average price of $75.91 and a 200 day moving average price of $73.11.
Perrigo (NYSE:PRGO) last issued its earnings results on Thursday, August 10th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $0.94 by $0.28. Perrigo had a positive return on equity of 11.55% and a negative net margin of 51.04%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the business posted $1.93 EPS. The company’s revenue was down 7.7% compared to the same quarter last year. On average, analysts forecast that Perrigo Company will post $4.58 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.16 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.64 annualized dividend and a yield of 0.77%. Perrigo’s dividend payout ratio is -3.51%.
In other Perrigo news, EVP Thomas Farrington sold 865 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $78.40, for a total transaction of $67,816.00. Following the sale, the executive vice president now directly owns 2,870 shares in the company, valued at approximately $225,008. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Sharon Kochan sold 1,500 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $79.03, for a total value of $118,545.00. Following the sale, the executive vice president now owns 10,349 shares in the company, valued at $817,881.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,981 shares of company stock worth $233,731. Company insiders own 6.90% of the company’s stock.
A number of brokerages have weighed in on PRGO. BidaskClub upgraded Perrigo from a “strong sell” rating to a “sell” rating in a report on Saturday. CIBC began coverage on Perrigo in a research note on Thursday. They issued an “outperform” rating and a $88.00 price objective for the company. Oppenheimer Holdings, Inc. began coverage on Perrigo in a research note on Thursday. They issued an “outperform” rating and a $88.00 price objective for the company. Cantor Fitzgerald reissued a “buy” rating on shares of Perrigo in a research note on Monday, August 21st. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $77.00 price objective on shares of Perrigo in a research note on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $87.00.
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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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