Twin Tree Management LP grew its stake in shares of Perrigo (NYSE:PRGO) by 271.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,223 shares of the company’s stock after acquiring an additional 3,523 shares during the period. Twin Tree Management LP’s holdings in Perrigo were worth $185,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of PRGO. Dupont Capital Management Corp bought a new position in Perrigo in the fourth quarter worth approximately $104,000. Dean Capital Investments Management LLC bought a new position in Perrigo in the first quarter worth approximately $209,000. ARP Americas LP bought a new position in Perrigo in the fourth quarter worth approximately $212,000. Quantitative Systematic Strategies LLC bought a new position in Perrigo in the fourth quarter worth approximately $213,000. Finally, V Wealth Management LLC bought a new position in Perrigo in the fourth quarter worth approximately $214,000. 79.52% of the stock is owned by hedge funds and other institutional investors.
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A number of equities analysts recently commented on the stock. Canaccord Genuity set a $105.00 price objective on shares of Perrigo and gave the stock a “buy” rating in a research note on Monday, May 14th. Cantor Fitzgerald set a $107.00 price objective on shares of Perrigo and gave the stock a “buy” rating in a research note on Monday, May 14th. Wells Fargo reduced their price objective on shares of Perrigo from $90.00 to $84.00 and set a “market perform” rating for the company in a research note on Monday, May 14th. Oppenheimer set a $98.00 price objective on shares of Perrigo and gave the stock a “buy” rating in a research note on Friday, May 11th. Finally, ValuEngine downgraded Perrigo from a “hold” rating to a “sell” rating in a research report on Wednesday, May 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $93.06.
Shares of PRGO opened at $76.21 on Friday. The firm has a market cap of $10.55 billion, a PE ratio of 14.80, a P/E/G ratio of 1.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.48 and a current ratio of 2.08. Perrigo has a 1-year low of $63.68 and a 1-year high of $95.93.
Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Tuesday, May 8th. The company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.12. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. Perrigo had a net margin of 2.59% and a return on equity of 11.93%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 earnings per share. sell-side analysts anticipate that Perrigo will post 5.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 19th. Stockholders of record on Friday, June 1st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, May 31st. Perrigo’s dividend payout ratio (DPR) is presently 15.42%.
In related news, Director Jeffrey C. Smith acquired 250,000 shares of the company’s stock in a transaction dated Tuesday, May 15th. The shares were purchased at an average cost of $75.21 per share, with a total value 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 $39,710.88. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Uwe Roehrhoff acquired 7,500 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were bought 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 directly owns 4,900 shares of the company’s stock, valued at $401,065. The disclosure for this purchase can be found here. Insiders have bought 307,500 shares of company stock worth $23,210,875 over the last three months. Corporate insiders own 6.90% 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 worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.
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