Norinchukin Bank The boosted its stake in shares of Perrigo Company PLC (NYSE:PRGO) by 11.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,191 shares of the company’s stock after purchasing an additional 1,602 shares during the period. Norinchukin Bank The’s holdings in Perrigo were worth $1,146,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Starboard Value LP lifted its position in shares of Perrigo by 4.1% in the second quarter. Starboard Value LP now owns 10,041,425 shares of the company’s stock valued at $732,120,000 after acquiring an additional 400,000 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Perrigo by 8.8% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 557,670 shares of the company’s stock valued at $39,483,000 after acquiring an additional 45,205 shares in the last quarter. BlackRock Inc. lifted its position in shares of Perrigo by 1.7% in the second quarter. BlackRock Inc. now owns 8,831,380 shares of the company’s stock valued at $643,897,000 after acquiring an additional 148,761 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Perrigo by 20.0% in the second quarter. Van ECK Associates Corp now owns 208,790 shares of the company’s stock valued at $15,223,000 after acquiring an additional 34,794 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new position in shares of Perrigo in the second quarter valued at about $796,000. Institutional investors own 90.08% of the company’s stock.
NYSE:PRGO opened at $61.00 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.26 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $8.29 billion, a P/E ratio of 12.58, a PEG ratio of 1.95 and a beta of 0.66. Perrigo Company PLC has a 12 month low of $59.88 and a 12 month high of $95.93.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Investors of record on Friday, November 30th will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.25%. Perrigo’s dividend payout ratio is currently 15.42%.
In related news, Director Geoffrey M. Parker acquired 3,000 shares of Perrigo stock in a transaction on Monday, November 12th. The shares were bought at an average cost of $65.35 per share, with a total value of $196,050.00. Following the completion of the purchase, the director now directly owns 3,229 shares of the company’s stock, valued at approximately $211,015.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Svend Andersen acquired 3,900 shares of Perrigo stock in a transaction on Friday, November 9th. The shares were bought at an average cost of $63.01 per share, for a total transaction of $245,739.00. The disclosure for this purchase can be found here. Insiders purchased 25,783 shares of company stock worth $1,646,976 over the last quarter. 6.90% of the stock is owned by company insiders.
Several equities analysts have recently commented on the company. ValuEngine upgraded Perrigo from a “strong sell” rating to a “sell” rating in a research report on Friday, November 16th. Wells Fargo & Co lowered their price objective on Perrigo from $77.00 to $64.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 14th. Morgan Stanley lowered their price objective on Perrigo from $77.00 to $67.00 and set a “hold” rating on the stock in a research report on Tuesday, November 13th. Berenberg Bank downgraded Perrigo from a “buy” rating to a “hold” rating and lowered their price objective for the company from $100.00 to $72.00 in a research report on Tuesday, November 13th. Finally, Royal Bank of Canada set a $63.00 price objective on Perrigo and gave the company a “hold” rating in a research report on Friday, November 9th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. Perrigo currently has a consensus rating of “Hold” and an average target price of $82.73.
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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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