Perrigo Company (PRGO) is Greenlight Capital Inc.’s 9th Largest Position
Greenlight Capital Inc. lifted its holdings in Perrigo Company (NYSE:PRGO) by 14.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,901,032 shares of the company’s stock after purchasing an additional 374,032 shares during the quarter. Perrigo accounts for approximately 3.9% of Greenlight Capital Inc.’s investment portfolio, making the stock its 9th largest position. Greenlight Capital Inc. owned 2.06% of Perrigo worth $245,572,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Cetera Advisors LLC purchased a new position in shares of Perrigo in the third quarter valued at $398,000. California Public Employees Retirement System boosted its stake in Perrigo by 3.9% during the third quarter. California Public Employees Retirement System now owns 284,066 shares of the company’s stock worth $24,046,000 after buying an additional 10,766 shares during the period. Point72 Asset Management L.P. purchased a new position in Perrigo during the third quarter worth $12,706,000. Beacon Investment Advisory Services Inc. boosted its stake in Perrigo by 100.0% during the third quarter. Beacon Investment Advisory Services Inc. now owns 8,000 shares of the company’s stock worth $678,000 after buying an additional 4,000 shares during the period. Finally, Highbridge Capital Management LLC purchased a new position in Perrigo during the third quarter worth $442,000. 85.53% of the stock is owned by hedge funds and other institutional investors.
Perrigo Company (PRGO) traded down $1.98 during trading hours on Friday, hitting $84.04. The stock had a trading volume of 2,198,300 shares, compared to its average volume of 1,686,029. Perrigo Company has a fifty-two week low of $63.68 and a fifty-two week high of $91.73. The company has a market capitalization of $12,115.12, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 1.83 and a beta of 0.70. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.72.
Perrigo (NYSE:PRGO) last released its earnings results on Thursday, November 9th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the company earned $1.65 earnings per share. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. analysts forecast that Perrigo Company will post 4.88 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Friday, December 1st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.76%. Perrigo’s dividend payout ratio (DPR) is -6.99%.
PRGO has been the subject of several recent analyst reports. Royal Bank of Canada raised shares of Perrigo from an “underperform” rating to a “sector perform” rating and lifted their price objective for the stock from $64.00 to $86.00 in a research note on Friday, November 10th. UBS reaffirmed a “buy” rating and set a $98.00 price objective (up from $84.00) on shares of Perrigo in a research note on Thursday, October 5th. Jefferies Group set a $71.00 price objective on shares of Perrigo and gave the stock a “hold” rating in a research note on Sunday, October 29th. Cantor Fitzgerald set a $107.00 price objective on shares of Perrigo and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Finally, CIBC initiated coverage on shares of Perrigo in a research note on Thursday, September 7th. They set an “outperform” rating and a $88.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $92.13.
In other news, EVP John Wesolowski sold 450 shares of Perrigo stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $83.09, for a total transaction of $37,390.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 1,051 shares of company stock valued at $89,810. Corporate insiders own 6.90% of the company’s stock.
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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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