First Trust Advisors LP acquired a new position in Perrigo Company plc (NYSE:PRGO) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 48,743 shares of the company’s stock, valued at approximately $4,248,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in Perrigo by 90.5% in the 4th quarter. Victory Capital Management Inc. now owns 2,046,980 shares of the company’s stock valued at $178,414,000 after purchasing an additional 972,210 shares during the period. Greenlight Capital Inc. boosted its holdings in Perrigo by 14.8% in the 3rd quarter. Greenlight Capital Inc. now owns 2,901,032 shares of the company’s stock valued at $245,572,000 after purchasing an additional 374,032 shares during the period. Asset Management One Co. Ltd. boosted its holdings in Perrigo by 5,856.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 190,501 shares of the company’s stock valued at $16,126,000 after purchasing an additional 187,303 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Perrigo by 40.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 622,690 shares of the company’s stock valued at $52,699,000 after purchasing an additional 180,348 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Perrigo in the 3rd quarter valued at $12,706,000. 78.23% of the stock is owned by institutional investors.
Several research analysts have commented on the stock. Leerink Swann assumed coverage on shares of Perrigo in a report on Tuesday, January 2nd. They issued a “market perform” rating and a $90.00 price target for the company. Cantor Fitzgerald set a $107.00 price objective on shares of Perrigo and gave the company a “buy” rating in a research report on Friday, February 9th. Canaccord Genuity set a $105.00 price objective on shares of Perrigo and gave the company a “buy” rating in a research report on Monday, March 5th. JPMorgan Chase & Co. restated a “neutral” rating and set a $83.00 price objective (up previously from $82.00) on shares of Perrigo in a research report on Monday, March 5th. Finally, Argus upgraded shares of Perrigo from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $91.88.
Perrigo Company plc (PRGO) opened at $84.95 on Friday. The company has a market cap of $11,963.85, a price-to-earnings ratio of 17.20, a P/E/G ratio of 1.96 and a beta of 0.82. Perrigo Company plc has a 52-week low of $63.68 and a 52-week high of $95.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.96 and a quick ratio of 1.40.
Perrigo (NYSE:PRGO) last issued its earnings results on Thursday, March 1st. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Perrigo had a net margin of 2.42% and a return on equity of 11.54%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 EPS. analysts forecast that Perrigo Company plc will post 5.25 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Friday, March 2nd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, March 1st. This is a boost from Perrigo’s previous quarterly dividend of $0.16. Perrigo’s dividend payout ratio (DPR) is presently 90.48%.
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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