Manning & Napier Advisors LLC trimmed its stake in shares of Perrigo Company (NYSE:PRGO) by 13.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,240,413 shares of the company’s stock after selling 345,655 shares during the quarter. Perrigo makes up 1.6% of Manning & Napier Advisors LLC’s portfolio, making the stock its 21st biggest position. Manning & Napier Advisors LLC owned 1.57% of Perrigo worth $189,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of PRGO. Teachers Advisors LLC boosted its stake in Perrigo by 5.5% during the 1st quarter. Teachers Advisors LLC now owns 184,705 shares of the company’s stock valued at $12,263,000 after acquiring an additional 9,615 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Perrigo by 11.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 312,302 shares of the company’s stock valued at $20,736,000 after acquiring an additional 32,828 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Perrigo by 17.4% in the 2nd quarter. Bank of Montreal Can now owns 96,324 shares of the company’s stock worth $7,274,000 after buying an additional 14,304 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Perrigo by 40.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,553 shares of the company’s stock worth $343,000 after buying an additional 1,320 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its position in shares of Perrigo by 456.2% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 21,268 shares of the company’s stock worth $1,606,000 after buying an additional 17,444 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.
Shares of Perrigo Company (NYSE:PRGO) traded up $1.20 during trading hours on Friday, reaching $87.00. The company’s stock had a trading volume of 1,329,900 shares, compared to its average volume of 1,743,351. The company has a market cap of $12,250.00, a PE ratio of 17.51, a P/E/G ratio of 1.85 and a beta of 0.59. Perrigo Company has a 12-month low of $63.68 and a 12-month high of $91.73. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.72 and a quick ratio of 1.24.
Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Thursday, November 9th. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.28. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business posted $1.65 EPS. Perrigo’s revenue was down 2.0% on a year-over-year basis. sell-side analysts expect that Perrigo Company will post 4.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Friday, December 1st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Thursday, November 30th. Perrigo’s dividend payout ratio (DPR) is currently -6.99%.
A number of research firms have recently issued reports on PRGO. Canaccord Genuity restated a “buy” rating and issued a $100.00 price target (up from $88.00) on shares of Perrigo in a research report on Wednesday, September 13th. Royal Bank Of Canada restated a “sell” rating and issued a $64.00 price target on shares of Perrigo in a research report on Wednesday, September 13th. Deutsche Bank AG increased their price objective on shares of Perrigo from $88.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, September 14th. Wells Fargo & Company increased their price objective on shares of Perrigo to $90.00 and gave the stock a “market perform” rating in a report on Friday, November 10th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $107.00 price objective on shares of Perrigo in a report on Thursday, November 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $91.50.
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In other Perrigo news, EVP Thomas Farrington sold 616 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $76.90, for a total transaction of $47,370.40. Following the transaction, the executive vice president now owns 2,724 shares in the company, valued at approximately $209,475.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Needham sold 3,595 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total value of $321,716.55. Following the completion of the transaction, the executive vice president now owns 10,118 shares in the company, valued at approximately $905,459.82. The disclosure for this sale can be found here. In the last three months, insiders sold 6,029 shares of company stock valued at $513,504. 6.90% of the stock is currently owned by insiders.
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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