Caisse DE Depot ET Placement DU Quebec Acquires 1,100 Shares of Perrigo Company (PRGO)
Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Perrigo Company (NYSE:PRGO) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,221 shares of the company’s stock after acquiring an additional 1,100 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Perrigo were worth $1,549,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Franklin Resources Inc. grew its holdings in Perrigo by 117.7% during the second quarter. Franklin Resources Inc. now owns 8,109,742 shares of the company’s stock valued at $612,448,000 after purchasing an additional 4,383,903 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Perrigo by 3,286.6% during the third quarter. Victory Capital Management Inc. now owns 1,074,770 shares of the company’s stock valued at $90,979,000 after purchasing an additional 1,043,034 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Perrigo by 50.9% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,846,993 shares of the company’s stock valued at $139,485,000 after purchasing an additional 623,370 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Perrigo during the second quarter valued at approximately $27,377,000. Finally, Gotham Asset Management LLC acquired a new position in Perrigo during the second quarter valued at approximately $24,950,000. 85.53% of the stock is currently owned by hedge funds and other institutional investors.
In other Perrigo news, EVP John Wesolowski sold 450 shares of Perrigo stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $83.09, for a total transaction of $37,390.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 1,051 shares of company stock worth $89,810 in the last quarter. Corporate insiders own 6.90% of the company’s stock.
Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Thursday, November 9th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.28. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. Perrigo had a negative net margin of 26.28% and a positive return on equity of 11.60%. Perrigo’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted $1.65 earnings per share. analysts anticipate that Perrigo Company will post 4.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.74%. Perrigo’s dividend payout ratio is currently -6.99%.
Several brokerages have commented on PRGO. Argus upgraded Perrigo from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Friday, December 8th. Cantor Fitzgerald set a $107.00 price target on Perrigo and gave the company a “buy” rating in a report on Sunday. Barclays increased their price target on Perrigo to $93.00 and gave the company an “overweight” rating in a report on Monday, December 4th. Jefferies Group reiterated a “hold” rating and set a $81.00 price target on shares of Perrigo in a report on Friday, November 10th. Finally, Oppenheimer assumed coverage on Perrigo in a report on Monday, October 2nd. They set a “buy” rating and a $88.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. Perrigo currently has a consensus rating of “Hold” and a consensus price target of $92.13.
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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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