Crossmark Global Holdings Inc. Acquires New Holdings in Perrigo Company (PRGO)
Crossmark Global Holdings Inc. acquired a new stake in Perrigo Company (NYSE:PRGO) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 7,146 shares of the company’s stock, valued at approximately $605,000.
Several other large investors also recently added to or reduced their stakes in PRGO. Korea Investment CORP boosted its position 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 acquiring an additional 781 shares during the period. Commonwealth Bank of Australia boosted its position in shares of 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 acquiring an additional 176 shares during the period. Bessemer Group Inc. boosted its position in shares of 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 acquiring an additional 2,040 shares during the period. BlueCrest Capital Management Ltd bought a new stake in shares of Perrigo in the second quarter valued at about $221,000. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in shares of Perrigo in the second quarter valued at about $227,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.
Perrigo Company (NYSE PRGO) opened at $87.00 on Friday. The company has a market cap of $12,084.13, a PE ratio of 17.51, a PEG ratio of 1.85 and a beta of 0.69. The company has a quick ratio of 1.24, a current ratio of 1.72 and a debt-to-equity ratio of 0.54. Perrigo Company has a fifty-two week low of $63.68 and a fifty-two week high of $91.73.
Perrigo (NYSE:PRGO) last posted its earnings results on Thursday, November 9th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.28. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Perrigo had a negative net margin of 26.28% and a positive return on equity of 11.60%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 earnings per share. equities research analysts forecast that Perrigo Company will post 4.88 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Friday, December 1st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.74%. Perrigo’s dividend payout ratio (DPR) is currently -6.99%.
PRGO has been the subject of a number of recent research reports. Cantor Fitzgerald set a $93.00 target price on shares of Perrigo and gave the company a “buy” rating in a research report on Thursday, August 10th. Canaccord Genuity reissued a “buy” rating and issued a $88.00 target price (up previously from $80.00) on shares of Perrigo in a research report on Thursday, August 10th. Deutsche Bank AG boosted their target price on shares of Perrigo from $88.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, September 14th. Oppenheimer Holdings, Inc. initiated coverage on shares of Perrigo in a research report on Monday, October 2nd. They issued a “buy” rating and a $88.00 target price for the company. Finally, UBS AG reissued a “buy” rating and issued a $98.00 target price (up previously from $84.00) on shares of Perrigo in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $91.50.
In other news, EVP Sharon Kochan sold 318 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $81.36, for a total value of $25,872.48. Following the completion of the transaction, the executive vice president now owns 10,231 shares of the company’s stock, valued at $832,394.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Needham sold 3,595 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total transaction of $321,716.55. Following the completion of the transaction, the executive vice president now directly owns 10,118 shares of the company’s stock, valued at approximately $905,459.82. The disclosure for this sale can be found here. Insiders sold 6,029 shares of company stock valued at $513,504 in the last three months. Company insiders own 6.90% of the company’s stock.
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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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