Baker Avenue Asset Management LP acquired a new position in Perrigo Company plc (NYSE:PRGO) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 15,023 shares of the company’s stock, valued at approximately $1,309,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PRGO. Sei Investments Co. grew its stake in shares of Perrigo by 7.5% in the third quarter. Sei Investments Co. now owns 131,284 shares of the company’s stock worth $11,114,000 after acquiring an additional 9,192 shares during the last quarter. Cetera Advisors LLC purchased a new stake in shares of Perrigo in the third quarter worth $398,000. Andra AP fonden grew its stake in shares of Perrigo by 9.9% in the third quarter. Andra AP fonden now owns 16,700 shares of the company’s stock worth $1,414,000 after acquiring an additional 1,500 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Perrigo in the third quarter worth $442,000. Finally, State of Alaska Department of Revenue grew its stake in shares of Perrigo by 56.6% in the fourth quarter. State of Alaska Department of Revenue now owns 22,063 shares of the company’s stock worth $1,922,000 after acquiring an additional 7,970 shares during the last quarter. Institutional investors and hedge funds own 78.23% of the company’s stock.
A number of research firms have recently commented on PRGO. Leerink Swann began coverage on Perrigo in a research note on Tuesday, January 2nd. They issued 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 research note on Friday, February 9th. Canaccord Genuity set a $105.00 target price on Perrigo and gave the stock a “buy” rating in a research note on Monday, March 5th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $83.00 target price (up from $82.00) on shares of Perrigo in a research note on Monday, March 5th. Finally, Argus raised Perrigo from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research note on Friday, December 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $91.88.
Perrigo (NYSE:PRGO) last released its quarterly earnings data on Thursday, March 1st. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.25 by $0.03. Perrigo had a return on equity of 11.54% and a net margin of 2.42%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the firm posted $1.24 earnings per share. Perrigo’s revenue was down 3.6% compared to the same quarter last year. research analysts predict that Perrigo Company plc will post 5.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Friday, March 2nd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, March 1st. This is a boost from Perrigo’s previous quarterly dividend of $0.16. This represents a $0.76 annualized dividend and a dividend yield of 0.89%. Perrigo’s dividend payout ratio (DPR) is 90.48%.
In other news, CEO Uwe Roehrhoff bought 7,500 shares of the company’s stock in a transaction on Monday, March 5th. The shares were acquired at an average cost of $81.85 per share, with a total value of $613,875.00. Following the completion of the transaction, the chief executive officer now owns 4,900 shares of the company’s stock, valued at approximately $401,065. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John Wesolowski bought 700 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was purchased at an average cost of $85.80 per share, for a total transaction of $60,060.00. The disclosure for this purchase can be found here. Company insiders own 6.90% of the company’s stock.
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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