Intermede Investment Partners Ltd reduced its stake in Perrigo Co. (NYSE:PRGO) by 7.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 184,143 shares of the company’s stock after selling 15,219 shares during the period. Perrigo accounts for about 1.9% of Intermede Investment Partners Ltd’s portfolio, making the stock its 26th largest position. Intermede Investment Partners Ltd owned about 0.13% of Perrigo worth $16,696,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OLD National Bancorp IN increased its position in Perrigo by 8.0% in the first quarter. OLD National Bancorp IN now owns 2,726 shares of the company’s stock valued at $349,000 after buying an additional 202 shares during the last quarter. Glenmede Trust Co. NA increased its position in Perrigo by 65.7% in the first quarter. Glenmede Trust Co. NA now owns 5,081 shares of the company’s stock valued at $649,000 after buying an additional 2,015 shares during the last quarter. Aperio Group LLC increased its position in Perrigo by 49.5% in the first quarter. Aperio Group LLC now owns 26,238 shares of the company’s stock valued at $3,357,000 after buying an additional 8,685 shares during the last quarter. Mn Services Vermogensbeheer B.V. acquired a new position in Perrigo during the first quarter valued at $412,000. Finally, Nisa Investment Advisors L.L.C. increased its position in Perrigo by 186.4% in the first quarter. Nisa Investment Advisors L.L.C. now owns 25,200 shares of the company’s stock valued at $3,224,000 after buying an additional 16,400 shares during the last quarter. Institutional investors and hedge funds own 71.11% of the company’s stock.
Perrigo Co. (NYSE:PRGO) traded up 1.09% during trading on Tuesday, hitting $96.77. 2,005,101 shares of the company were exchanged. The stock’s 50-day moving average is $91.43 and its 200-day moving average is $101.38. Perrigo Co. has a 12 month low of $82.50 and a 12 month high of $167.92. The company’s market capitalization is $13.87 billion.
Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $1.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.98 by $0.05. Perrigo had a negative net margin of 2.39% and a positive return on equity of 10.19%. The business earned $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the business posted $2.18 EPS. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities research analysts anticipate that Perrigo Co. will post $7.06 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Friday, August 26th were issued a $0.145 dividend. The ex-dividend date was Wednesday, August 24th. This represents a $0.58 annualized dividend and a yield of 0.60%. Perrigo’s dividend payout ratio (DPR) is -60.42%.
Several research analysts have weighed in on PRGO shares. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $109.00 price target on shares of Perrigo in a research report on Friday, June 3rd. Bank of America Corp. reiterated a “sell” rating and issued a $109.00 price target on shares of Perrigo in a research report on Wednesday, June 15th. Raymond James Financial Inc. restated a “hold” rating on shares of Perrigo in a research report on Wednesday, June 15th. BTIG Research restated a “neutral” rating on shares of Perrigo in a research report on Friday, June 17th. Finally, Argus downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Monday, June 20th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $113.37.
In other Perrigo news, Director Gary K. Kunkle, Jr. sold 5,814 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $89.95, for a total transaction of $522,969.30. Following the sale, the director now owns 31,501 shares of the company’s stock, valued at $2,833,514.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Judy L. Brown sold 2,095 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $88.28, for a total transaction of $184,946.60. Following the sale, the executive vice president now directly owns 16,292 shares in the company, valued at approximately $1,438,257.76. The disclosure for this sale can be found here. 4.47% of the stock is currently owned by corporate insiders.
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