Vident Investment Advisory LLC Reduces Stake in Perrigo Company PLC (PRGO)

Vident Investment Advisory LLC lessened its holdings in shares of Perrigo Company PLC (NYSE:PRGO) by 2.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,651 shares of the company’s stock after selling 882 shares during the period. Vident Investment Advisory LLC’s holdings in Perrigo were worth $2,381,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PRGO. Analyst IMS Investment Management Services Ltd. boosted its stake in Perrigo by 4.5% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 37,593 shares of the company’s stock worth $2,749,000 after purchasing an additional 1,635 shares in the last quarter. Parnassus Investments CA boosted its stake in Perrigo by 2.3% in the 2nd quarter. Parnassus Investments CA now owns 2,250,000 shares of the company’s stock worth $164,048,000 after purchasing an additional 50,000 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Perrigo by 96.7% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 512,465 shares of the company’s stock worth $37,364,000 after purchasing an additional 251,953 shares in the last quarter. Starboard Value LP boosted its stake in Perrigo by 4.1% in the 2nd quarter. Starboard Value LP now owns 10,041,425 shares of the company’s stock worth $732,120,000 after purchasing an additional 400,000 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Perrigo by 1.7% in the 2nd quarter. BlackRock Inc. now owns 8,831,380 shares of the company’s stock worth $643,897,000 after purchasing an additional 148,761 shares in the last quarter. Hedge funds and other institutional investors own 82.11% of the company’s stock.

Several equities analysts have issued reports on PRGO shares. Canaccord Genuity set a $90.00 target price on shares of Perrigo and gave the company a “buy” rating in a research note on Friday, August 17th. Deutsche Bank cut shares of Perrigo from a “buy” rating to a “hold” rating and lowered their target price for the company from $93.00 to $78.00 in a research note on Friday, August 10th. ValuEngine upgraded shares of Perrigo from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Perrigo in a research note on Friday, June 22nd. Finally, Jefferies Financial Group restated a “hold” rating and set a $73.00 target price on shares of Perrigo in a research note on Friday, August 10th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. Perrigo presently has a consensus rating of “Hold” and a consensus target price of $88.69.

In other Perrigo news, EVP Svend Andersen purchased 7,200 shares of Perrigo stock in a transaction dated Tuesday, August 14th. The stock was purchased at an average price of $69.43 per share, with a total value of $499,896.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.90% of the stock is owned by corporate insiders.

NYSE PRGO opened at $73.69 on Friday. Perrigo Company PLC has a 52 week low of $67.53 and a 52 week high of $95.93. The stock has a market cap of $10.28 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 2.43 and a beta of 0.83. The company has a quick ratio of 1.23, a current ratio of 1.81 and a debt-to-equity ratio of 0.52.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Thursday, August 9th. The company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.01. Perrigo had a net margin of 4.77% and a return on equity of 11.92%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the firm earned $1.22 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. sell-side analysts forecast that Perrigo Company PLC will post 4.85 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Friday, August 31st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, August 30th. Perrigo’s payout ratio is currently 15.42%.

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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