AE Wealth Management LLC Takes $396,000 Position in Perrigo Company PLC (NYSE:PRGO)
AE Wealth Management LLC bought a new stake in Perrigo Company PLC (NYSE:PRGO) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,239 shares of the company’s stock, valued at approximately $396,000.
Several other institutional investors have also recently bought and sold shares of PRGO. Norges Bank purchased a new stake in Perrigo during the 4th quarter valued at approximately $66,466,000. Franklin Resources Inc. raised its stake in Perrigo by 11.9% during the 4th quarter. Franklin Resources Inc. now owns 6,108,363 shares of the company’s stock valued at $315,557,000 after acquiring an additional 650,241 shares during the last quarter. First Trust Advisors LP raised its stake in Perrigo by 255.9% during the 1st quarter. First Trust Advisors LP now owns 642,234 shares of the company’s stock valued at $30,885,000 after acquiring an additional 461,758 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in Perrigo by 38.7% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,104,474 shares of the company’s stock valued at $57,057,000 after acquiring an additional 308,298 shares during the last quarter. Finally, M.D. Sass Investors Services Inc. purchased a new stake in Perrigo during the 1st quarter valued at approximately $11,101,000. 81.76% of the stock is owned by institutional investors and hedge funds.
PRGO has been the subject of several analyst reports. Argus downgraded Perrigo from a “buy” rating to a “hold” rating in a research note on Friday, April 17th. Wells Fargo & Co reduced their price objective on Perrigo from $63.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 11th. JPMorgan Chase & Co. raised Perrigo from a “neutral” rating to an “overweight” rating and set a $57.00 price objective for the company in a research note on Tuesday, March 24th. Royal Bank of Canada reissued a “buy” rating and set a $58.00 target price on shares of Perrigo in a research note on Wednesday, April 1st. Finally, Morgan Stanley cut their target price on Perrigo from $54.00 to $53.00 and set an “equal weight” rating for the company in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Perrigo has a consensus rating of “Hold” and a consensus price target of $56.86.
Perrigo (NYSE:PRGO) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Perrigo had a return on equity of 9.72% and a net margin of 3.77%. The company’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.07 EPS. On average, equities analysts forecast that Perrigo Company PLC will post 4.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Friday, May 29th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Thursday, May 28th. Perrigo’s dividend payout ratio is currently 22.33%.
In other news, Director Theodore R. Samuels II purchased 2,000 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average price of $42.50 per share, for a total transaction of $85,000.00. Following the acquisition, the director now directly owns 8,236 shares in the company, valued at approximately $350,030. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.30% of the company’s stock.
Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.
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