State of Wisconsin Investment Board Reduces Stake in Perrigo Company PLC (PRGO)
State of Wisconsin Investment Board lessened its position in Perrigo Company PLC (NYSE:PRGO) by 12.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 175,107 shares of the company’s stock after selling 25,024 shares during the quarter. State of Wisconsin Investment Board’s holdings in Perrigo were worth $12,767,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Analyst IMS Investment Management Services Ltd. raised its position in shares of Perrigo by 4.5% during the second 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 during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Perrigo by 96.7% during the second 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 during the period. BlackRock Inc. raised its position in shares of Perrigo by 1.0% during the first quarter. BlackRock Inc. now owns 8,682,619 shares of the company’s stock worth $723,608,000 after purchasing an additional 82,207 shares during the period. Virginia Retirement Systems ET AL raised its position in shares of Perrigo by 49.7% during the first quarter. Virginia Retirement Systems ET AL now owns 58,400 shares of the company’s stock worth $4,867,000 after purchasing an additional 19,400 shares during the period. Finally, IBM Retirement Fund acquired a new stake in shares of Perrigo during the first quarter worth $242,000. 80.89% of the stock is currently owned by institutional investors.
Shares of NYSE PRGO opened at $72.96 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.23 and a debt-to-equity ratio of 0.52. Perrigo Company PLC has a one year low of $67.53 and a one year high of $95.93. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 1.74 and a beta of 0.84.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Shareholders of record on Friday, August 31st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.76 dividend on an annualized basis and a yield of 1.04%. Perrigo’s dividend payout ratio (DPR) is currently 15.42%.
In other news, EVP Svend Andersen bought 7,200 shares of the stock in a transaction on Tuesday, August 14th. The shares were purchased at an average price of $69.43 per share, for a total transaction of $499,896.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.90% of the company’s stock.
Several research firms recently weighed in on PRGO. Canaccord Genuity set a $105.00 price target on Perrigo and gave the company a “buy” rating in a research report on Monday, April 23rd. Cantor Fitzgerald set a $107.00 price target on Perrigo and gave the company a “buy” rating in a research report on Tuesday, May 8th. ValuEngine lowered Perrigo from a “hold” rating to a “sell” rating in a research report on Wednesday, May 9th. Oppenheimer set a $98.00 price target on Perrigo and gave the company a “buy” rating in a research report on Friday, May 11th. Finally, Wells Fargo & Co dropped their price target on Perrigo from $90.00 to $84.00 and set a “market perform” rating on the stock in a research report on Monday, May 14th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. Perrigo has a consensus rating of “Hold” and a consensus price target of $89.06.
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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