FTB Advisors Inc. boosted its stake in Perrigo Company PLC (NYSE:PRGO) by 4.9% in the third quarter, Holdings Channel reports. The firm owned 54,652 shares of the company’s stock after acquiring an additional 2,556 shares during the period. FTB Advisors Inc.’s holdings in Perrigo were worth $3,869,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC acquired a new position in Perrigo in the second quarter valued at about $110,000. NuWave Investment Management LLC grew its stake in Perrigo by 17,377.8% in the third quarter. NuWave Investment Management LLC now owns 1,573 shares of the company’s stock valued at $111,000 after acquiring an additional 1,564 shares during the period. Dupont Capital Management Corp grew its stake in Perrigo by 63.8% in the second quarter. Dupont Capital Management Corp now owns 1,705 shares of the company’s stock valued at $124,000 after acquiring an additional 664 shares during the period. Allianz Asset Management GmbH acquired a new position in Perrigo in the first quarter valued at about $205,000. Finally, Exane Asset Management acquired a new position in Perrigo in the second quarter valued at about $205,000. Institutional investors and hedge funds own 90.08% of the company’s stock.

Shares of NYSE PRGO opened at $63.27 on Monday. Perrigo Company PLC has a 52 week low of $62.48 and a 52 week high of $95.93. The company has a quick ratio of 1.26, a current ratio of 1.85 and a debt-to-equity ratio of 0.54. The company has a market cap of $8.60 billion, a P/E ratio of 12.83, a P/E/G ratio of 2.02 and a beta of 0.66.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Thursday, November 8th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.05 by $0.04. Perrigo had a return on equity of 11.32% and a net margin of 2.54%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the firm posted $1.39 earnings per share. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Perrigo Company PLC will post 4.55 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 18th. Investors of record on Friday, November 30th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.76 annualized dividend and a yield of 1.20%. Perrigo’s dividend payout ratio (DPR) is presently 15.42%.

PRGO has been the subject of several recent research reports. Argus cut Perrigo from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. ValuEngine raised Perrigo from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. Cantor Fitzgerald set a $107.00 price objective on Perrigo and gave the stock a “buy” rating in a research report on Thursday, August 9th. Deutsche Bank cut Perrigo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $93.00 to $78.00 in a research report on Friday, August 10th. Finally, Stifel Nicolaus reduced their price objective on Perrigo from $92.00 to $87.00 and set a “hold” rating for the company in a research report on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. Perrigo has a consensus rating of “Hold” and a consensus target price of $82.73.

In other Perrigo news, VP Todd W. Kingma acquired 3,200 shares of the company’s stock in a transaction on Friday, November 9th. The shares were purchased at an average price of $63.99 per share, for a total transaction of $204,768.00. Following the completion of the purchase, the vice president now directly owns 23,587 shares of the company’s stock, valued at $1,509,332.13. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Svend Andersen acquired 3,900 shares of the company’s stock in a transaction on Friday, November 9th. The stock was acquired at an average price of $63.01 per share, for a total transaction of $245,739.00. The disclosure for this purchase can be found here. Insiders have purchased 25,783 shares of company stock valued at $1,646,976 over the last three months. Insiders own 6.90% of the company’s stock.

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Perrigo Company Profile

Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.

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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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