Sasco Capital Inc. CT lessened its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,015,092 shares of the company’s stock after selling 40,130 shares during the period. Perrigo comprises approximately 3.2% of Sasco Capital Inc. CT’s holdings, making the stock its 14th largest holding. Sasco Capital Inc. CT’s holdings in Perrigo were worth $88,475,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in PRGO. Greenlight Capital Inc. grew its holdings in shares of Perrigo by 14.8% during the 3rd quarter. Greenlight Capital Inc. now owns 2,901,032 shares of the company’s stock worth $245,572,000 after acquiring an additional 374,032 shares during the period. Parnassus Investments CA grew its holdings in shares of Perrigo by 7.1% during the 3rd quarter. Parnassus Investments CA now owns 2,257,000 shares of the company’s stock worth $191,055,000 after acquiring an additional 150,000 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Perrigo by 90.5% during the 4th quarter. Victory Capital Management Inc. now owns 2,046,980 shares of the company’s stock worth $178,414,000 after acquiring an additional 972,210 shares during the period. Virtus Fund Advisers LLC grew its holdings in shares of Perrigo by 37.3% during the 4th quarter. Virtus Fund Advisers LLC now owns 952,550 shares of the company’s stock worth $83,024,000 after acquiring an additional 258,825 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of Perrigo by 1.8% during the 3rd quarter. Legal & General Group Plc now owns 674,091 shares of the company’s stock worth $57,059,000 after acquiring an additional 12,023 shares during the period. Institutional investors own 82.44% of the company’s stock.
A number of research firms have weighed in on PRGO. Leerink Swann began coverage on Perrigo in a report on Tuesday, January 2nd. They set a “market perform” rating and a $90.00 target price on the stock. Cantor Fitzgerald set a $107.00 target price on Perrigo and gave the stock a “buy” rating in a report on Friday, February 9th. Argus upgraded Perrigo from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Friday, December 8th. Jefferies Group reiterated a “hold” rating and set a $81.00 target price on shares of Perrigo in a report on Friday, November 10th. Finally, Morgan Stanley upped their target price on Perrigo from $79.00 to $92.00 and gave the stock an “equal weight” rating in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $93.47.
Shares of Perrigo Company plc (NYSE PRGO) opened at $88.30 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.72 and a quick ratio of 1.24. The firm has a market capitalization of $12,429.19, a P/E ratio of -9.64, a P/E/G ratio of 1.88 and a beta of 0.76. Perrigo Company plc has a 52 week low of $63.68 and a 52 week high of $95.93.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Friday, March 2nd will be paid a $0.19 dividend. The ex-dividend date is Thursday, March 1st. This represents a $0.76 annualized dividend and a dividend yield of 0.86%. This is an increase from Perrigo’s previous quarterly dividend of $0.16. Perrigo’s dividend payout ratio is presently -6.99%.
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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