FTB Advisors Inc. Increases Stake in Perrigo Company PLC (PRGO)

FTB Advisors Inc. grew its position in Perrigo Company PLC (NYSE:PRGO) by 4.9% during the third quarter, HoldingsChannel.com reports. The firm owned 54,652 shares of the company’s stock after acquiring an additional 2,556 shares during the period. FTB Advisors Inc.’s holdings in Perrigo were worth $3,869,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Piedmont Investment Advisors LLC acquired a new stake in Perrigo in the second quarter valued at approximately $110,000. NuWave Investment Management LLC lifted its position in Perrigo by 17,377.8% during the third quarter. NuWave Investment Management LLC now owns 1,573 shares of the company’s stock worth $111,000 after buying an additional 1,564 shares in the last quarter. Dupont Capital Management Corp lifted its position in Perrigo by 63.8% during the second quarter. Dupont Capital Management Corp now owns 1,705 shares of the company’s stock worth $124,000 after buying an additional 664 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in Perrigo during the first quarter worth approximately $205,000. Finally, Exane Asset Management purchased a new position in Perrigo during the second quarter worth approximately $205,000. 83.00% of the stock is currently owned by hedge funds and other institutional investors.

Perrigo stock opened at $75.14 on Thursday. Perrigo Company PLC has a fifty-two week low of $67.40 and a fifty-two week high of $95.93. The company has a quick ratio of 1.23, a current ratio of 1.81 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $10.11 billion, a PE ratio of 14.34, a PEG ratio of 2.39 and a beta of 0.66.

Perrigo (NYSE:PRGO) last posted its earnings results on Thursday, August 9th. The company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.01. Perrigo had a return on equity of 11.92% and a net margin of 4.77%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the business earned $1.22 EPS. The business’s quarterly revenue was down 4.2% on a year-over-year basis. On average, equities research analysts expect that Perrigo Company PLC will post 4.85 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Friday, November 30th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, November 29th. Perrigo’s payout ratio is currently 15.42%.

PRGO has been the topic of a number of research analyst reports. Goldman Sachs Group downgraded Perrigo from a “neutral” rating to a “sell” rating and reduced their target price for the company from $78.00 to $74.00 in a research report on Thursday, July 12th. Cantor Fitzgerald restated a “buy” rating and issued a $107.00 target price on shares of Perrigo in a research report on Wednesday, July 18th. Argus downgraded Perrigo from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. ValuEngine raised Perrigo from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Finally, Deutsche Bank cut Perrigo from a “buy” rating to a “hold” rating and dropped their price objective for the company from $93.00 to $78.00 in a research note on Friday, August 10th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. Perrigo currently has an average rating of “Hold” and an average target price of $88.07.

In other news, EVP Svend Andersen bought 7,200 shares of Perrigo stock in a transaction dated Tuesday, August 14th. The stock was acquired at an average cost of $69.43 per share, with a total value of $499,896.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.90% of the stock is currently owned by insiders.

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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.

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Want to see what other hedge funds are holding PRGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Perrigo Company PLC (NYSE:PRGO).

Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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