Ellington Management Group LLC acquired a new stake in Perrigo Company plc (NYSE:PRGO) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 7,900 shares of the company’s stock, valued at approximately $689,000.

A number of other hedge funds also recently made changes to their positions in the business. Crossmark Global Holdings Inc. lifted its position in Perrigo by 8.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 7,741 shares of the company’s stock valued at $675,000 after purchasing an additional 595 shares during the last quarter. New Mexico Educational Retirement Board raised its holdings in shares of Perrigo by 5.0% during the fourth quarter. New Mexico Educational Retirement Board now owns 12,700 shares of the company’s stock valued at $1,107,000 after acquiring an additional 600 shares in the last quarter. Norinchukin Bank The raised its holdings in shares of Perrigo by 6.1% during the fourth quarter. Norinchukin Bank The now owns 10,472 shares of the company’s stock valued at $913,000 after acquiring an additional 601 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Perrigo by 10.9% during the third quarter. Brown Advisory Inc. now owns 6,245 shares of the company’s stock valued at $529,000 after acquiring an additional 613 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Perrigo by 4.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 18,350 shares of the company’s stock valued at $1,553,000 after acquiring an additional 749 shares in the last quarter. Hedge funds and other institutional investors own 79.01% of the company’s stock.

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In related news, CEO Uwe Roehrhoff bought 7,500 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were purchased at an average cost of $81.85 per share, with a total value of $613,875.00. Following the completion of the purchase, the chief executive officer now owns 4,900 shares in the company, valued at approximately $401,065. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Todd W. Kingma sold 1,500 shares of the stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $88.52, for a total value of $132,780.00. Following the completion of the sale, the vice president now directly owns 19,565 shares in the company, valued at $1,731,893.80. The disclosure for this sale can be found here. Corporate insiders own 6.90% of the company’s stock.

A number of equities analysts recently commented on the company. Canaccord Genuity set a $105.00 target price on Perrigo and gave the company a “buy” rating in a report on Monday. Oppenheimer set a $98.00 target price on Perrigo and gave the company a “buy” rating in a report on Monday, March 5th. Cantor Fitzgerald set a $107.00 target price on Perrigo and gave the company a “buy” rating in a report on Thursday, March 1st. JPMorgan Chase & Co. restated a “neutral” rating and set a $83.00 target price (up previously from $82.00) on shares of Perrigo in a report on Monday, March 5th. Finally, Leerink Swann assumed coverage on Perrigo in a report on Tuesday, January 2nd. They set a “market perform” rating and a $90.00 target price for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. Perrigo currently has an average rating of “Hold” and a consensus price target of $91.88.

Shares of Perrigo Company plc (NYSE:PRGO) opened at $86.51 on Wednesday. The firm has a market capitalization of $12,131.41, a price-to-earnings ratio of 17.44, a P/E/G ratio of 1.99 and a beta of 0.82. Perrigo Company plc has a 12 month low of $63.68 and a 12 month high of $95.93. The company has a quick ratio of 1.40, a current ratio of 1.96 and a debt-to-equity ratio of 0.53.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Thursday, March 1st. The company reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.03. Perrigo had a return on equity of 11.54% and a net margin of 2.42%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the firm earned $1.24 earnings per share. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. analysts predict that Perrigo Company plc will post 5.25 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Friday, March 2nd will be paid a $0.19 dividend. This is a boost from Perrigo’s previous quarterly dividend of $0.16. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Thursday, March 1st. Perrigo’s dividend payout ratio is currently 90.48%.

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Perrigo Profile

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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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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