Perrigo (PRGO) Position Reduced by Engineers Gate Manager LP

Engineers Gate Manager LP lowered its holdings in shares of Perrigo (NYSE:PRGO) by 68.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,486 shares of the company’s stock after selling 48,343 shares during the period. Engineers Gate Manager LP’s holdings in Perrigo were worth $1,874,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dupont Capital Management Corp acquired a new stake in Perrigo in the fourth quarter valued at approximately $104,000. Dean Capital Investments Management LLC acquired a new stake in Perrigo in the first quarter valued at approximately $209,000. ARP Americas LP acquired a new stake in Perrigo in the fourth quarter valued at approximately $212,000. Quantitative Systematic Strategies LLC acquired a new stake in Perrigo in the fourth quarter valued at approximately $213,000. Finally, V Wealth Management LLC acquired a new stake in Perrigo in the fourth quarter valued at approximately $214,000. 79.52% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have commented on PRGO shares. Oppenheimer set a $98.00 price objective on Perrigo and gave the company a “buy” rating in a research note on Monday, March 5th. Canaccord Genuity set a $105.00 price objective on Perrigo and gave the company a “buy” rating in a research note on Monday, March 5th. Cantor Fitzgerald set a $107.00 price objective on Perrigo and gave the company a “buy” rating in a research note on Thursday, March 1st. Finally, Berenberg Bank started coverage on Perrigo in a research note on Thursday, February 1st. They issued a “buy” rating and a $117.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. Perrigo currently has a consensus rating of “Hold” and a consensus price target of $93.06.

In other Perrigo news, CEO Uwe Roehrhoff purchased 7,500 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were acquired at an average cost of $81.85 per share, for a total transaction of $613,875.00. Following the completion of the acquisition, the chief executive officer now owns 4,900 shares of the company’s stock, valued at approximately $401,065. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey C. Smith purchased 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 15th. The shares were acquired at an average price of $75.21 per share, for a total transaction of $18,802,500.00. Following the completion of the acquisition, the director now directly owns 528 shares of the company’s stock, valued at approximately $39,710.88. The disclosure for this purchase can be found here. Insiders have purchased 307,500 shares of company stock worth $23,210,875 over the last quarter. 6.90% of the stock is currently owned by corporate insiders.

Perrigo opened at $75.86 on Friday, MarketBeat reports. Perrigo has a twelve month low of $75.66 and a twelve month high of $76.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.48 and a current ratio of 2.08. The company has a market capitalization of $10.48 billion, a PE ratio of 14.69, a P/E/G ratio of 1.78 and a beta of 0.77.

Perrigo (NYSE:PRGO) last posted its earnings results on Tuesday, May 8th. The company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.12. Perrigo had a return on equity of 11.93% and a net margin of 2.59%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the company earned $1.05 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. equities research analysts anticipate that Perrigo will post 5.25 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 19th. Investors of record on Friday, June 1st will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $0.76 dividend on an annualized basis and a yield of 1.00%. Perrigo’s dividend payout ratio (DPR) is currently 15.42%.

Perrigo 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.

Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

Receive News & Ratings for Perrigo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perrigo and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply