Meitav Dash Investments Ltd. acquired a new position in shares of Perrigo Company plc (NYSE:PRGO) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 274,224 shares of the company’s stock, valued at approximately $23,901,000. Perrigo comprises about 1.4% of Meitav Dash Investments Ltd.’s holdings, making the stock its 23rd biggest holding.
A number of other hedge funds have also recently modified their holdings of the stock. Dupont Capital Management Corp bought a new stake in shares of Perrigo in the 4th quarter valued at about $104,000. ARP Americas LP bought a new stake in shares of Perrigo in the 4th quarter valued at about $212,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Perrigo in the 4th quarter valued at about $213,000. V Wealth Management LLC bought a new stake in shares of Perrigo in the 4th quarter valued at about $214,000. Finally, Investors Research Corp bought a new stake in shares of Perrigo in the 4th quarter valued at about $214,000. Institutional investors and hedge funds own 78.64% of the company’s stock.
In related news, VP Todd W. Kingma sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $88.52, for a total transaction of $132,780.00. Following the transaction, the vice president now directly owns 19,565 shares of the company’s stock, valued at approximately $1,731,893.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Uwe Roehrhoff purchased 7,500 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were purchased at an average cost of $81.85 per share, for a total transaction of $613,875.00. Following the completion of the purchase, the chief executive officer now owns 4,900 shares in the company, valued at approximately $401,065. The disclosure for this purchase can be found here. 6.90% of the stock is currently owned by corporate insiders.
Perrigo Company plc (NYSE:PRGO) opened at $82.05 on Tuesday. The stock has a market capitalization of $11,862.42, a PE ratio of 97.86, a PEG ratio of 1.95 and a beta of 0.82. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.96 and a quick ratio of 1.40. Perrigo Company plc has a 52 week low of $63.68 and a 52 week high of $95.93.
Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Thursday, March 1st. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.26 billion. Perrigo had a return on equity of 11.54% and a net margin of 2.42%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 EPS. sell-side analysts predict that Perrigo Company plc will post 5.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Friday, March 2nd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.93%. This is an increase from Perrigo’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, March 1st. Perrigo’s payout ratio is currently 90.48%.
A number of research firms have commented on PRGO. Cantor Fitzgerald set a $107.00 price target on Perrigo and gave the company a “buy” rating in a research report on Friday, January 12th. Canaccord Genuity reiterated a “buy” rating and issued a $100.00 price target on shares of Perrigo in a research report on Wednesday, January 17th. Berenberg Bank began coverage on Perrigo in a research report on Thursday, February 1st. They issued a “buy” rating and a $117.00 price target on the stock. Finally, Leerink Swann began coverage on Perrigo in a research report on Tuesday, January 2nd. They issued a “market perform” rating and a $90.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. Perrigo has a consensus rating of “Hold” and a consensus target price of $91.88.
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Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements, active pharmaceutical ingredients (API), and medical diagnostic products, and Multiple Sclerosis drug Tysabri.
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