NJ State Employees Deferred Compensation Plan Buys New Stake in Perrigo Company (NYSE:PRGO)
NJ State Employees Deferred Compensation Plan bought a new position in shares of Perrigo Company (NYSE:PRGO) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,000 shares of the company’s stock, valued at approximately $227,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Perrigo by 3,825.1% in the first quarter. BlackRock Inc. now owns 12,154,494 shares of the company’s stock worth $806,936,000 after buying an additional 11,844,832 shares in the last quarter. Aberdeen Asset Management PLC UK increased its position in Perrigo by 65.2% in the first quarter. Aberdeen Asset Management PLC UK now owns 3,028,619 shares of the company’s stock worth $201,070,000 after buying an additional 1,195,526 shares in the last quarter. Parnassus Investments CA increased its position in Perrigo by 44.0% in the first quarter. Parnassus Investments CA now owns 2,794,000 shares of the company’s stock worth $185,494,000 after buying an additional 854,000 shares in the last quarter. Vanguard Group Inc. increased its position in Perrigo by 4.5% in the first quarter. Vanguard Group Inc. now owns 14,574,768 shares of the company’s stock worth $967,619,000 after buying an additional 633,343 shares in the last quarter. Finally, North Tide Capital LLC bought a new position in Perrigo during the first quarter worth $39,834,000. 76.38% of the stock is owned by hedge funds and other institutional investors.
Perrigo Company (NYSE:PRGO) opened at 76.84 on Friday. The company’s market capitalization is $11.02 billion. Perrigo Company has a one year low of $63.68 and a one year high of $99.14. The firm has a 50-day moving average of $73.48 and a 200 day moving average of $73.02.
Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Thursday, August 10th. The company reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.28. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.18 billion. Perrigo had a negative net margin of 43.81% and a positive return on equity of 11.79%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.93 earnings per share. On average, equities analysts forecast that Perrigo Company will post $4.28 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be given a $0.16 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.83%. Perrigo’s payout ratio is currently -3.90%.
A number of research analysts have recently weighed in on PRGO shares. Wells Fargo & Company reissued a “market perform” rating and set a $67.00 target price on shares of Perrigo in a research report on Friday, April 14th. B. Riley reissued a “neutral” rating and set a $67.00 target price on shares of Perrigo in a research report on Saturday, April 22nd. Deutsche Bank AG reduced their target price on shares of Perrigo from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $68.00 target price on shares of Perrigo in a research report on Wednesday, May 31st. Finally, Royal Bank Of Canada downgraded shares of Perrigo from a “sector perform” rating to an “underperform” rating and cut their price objective for the stock from $66.00 to $60.00 in a report on Monday, June 5th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $84.86.
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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