Meag Munich Ergo Kapitalanlagegesellschaft MBH Takes Position in Perrigo Company (PRGO)
Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in Perrigo Company (NYSE:PRGO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 67,831 shares of the company’s stock, valued at approximately $5,661,000.
Other hedge funds also recently modified their holdings of the company. Korea Investment CORP increased its stake in shares of Perrigo by 142.0% in the second quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock valued at $101,000 after buying an additional 781 shares during the period. Commonwealth Bank of Australia grew its stake in Perrigo by 13.8% during the second quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock worth $108,000 after purchasing an additional 176 shares during the period. Bessemer Group Inc. grew its stake in Perrigo by 1,046.2% during the second quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock worth $169,000 after purchasing an additional 2,040 shares during the period. Conning Inc. acquired a new stake in Perrigo during the third quarter worth approximately $219,000. Finally, SOL Capital Management CO acquired a new stake in Perrigo during the third quarter worth approximately $227,000. 82.47% of the stock is owned by institutional investors.
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Perrigo Company (NYSE:PRGO) traded down $0.29 during mid-day trading on Monday, reaching $87.70. The company had a trading volume of 1,406,400 shares, compared to its average volume of 1,747,689. The company has a market cap of $12,351.73, a PE ratio of 17.90, a PEG ratio of 1.89 and a beta of 0.69. Perrigo Company has a fifty-two week low of $63.68 and a fifty-two week high of $91.95. 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 released its quarterly earnings results on Thursday, November 9th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.28. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.65 EPS. analysts predict that Perrigo Company will post 4.9 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Friday, December 1st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.73%. Perrigo’s payout ratio is presently -6.99%.
In other Perrigo news, EVP Sharon Kochan sold 318 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $81.36, for a total value of $25,872.48. Following the completion of the sale, the executive vice president now owns 10,231 shares of the company’s stock, valued at $832,394.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey Needham sold 3,595 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total transaction of $321,716.55. Following the transaction, the executive vice president now directly owns 10,118 shares in the company, valued at $905,459.82. The disclosure for this sale can be found here. Insiders sold a total of 6,894 shares of company stock valued at $581,320 in the last quarter. 6.90% of the stock is currently owned by company insiders.
Several equities research analysts recently commented on the company. Royal Bank Of Canada set a $60.00 target price on Perrigo and gave the stock a “sell” rating in a research note on Sunday, July 16th. Jefferies Group LLC reaffirmed a “hold” rating and set a $71.00 target price (up previously from $69.00) on shares of Perrigo in a research note on Friday, August 11th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $77.00 target price on shares of Perrigo in a research note on Tuesday, August 15th. Oppenheimer Holdings, Inc. began coverage on Perrigo in a research note on Thursday, September 7th. They set an “outperform” rating and a $88.00 target price for the company. Finally, BidaskClub upgraded Perrigo from a “strong sell” rating to a “sell” rating in a report on Saturday, September 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $91.50.
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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