Nomura Asset Management Co. Ltd. increased its position in Perrigo Company PLC (NYSE:PRGO) by 5.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,493 shares of the company’s stock after acquiring an additional 1,099 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Perrigo were worth $1,083,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Moody National Bank Trust Division bought a new stake in Perrigo during the first quarter worth about $32,000. Oregon Public Employees Retirement Fund grew its stake in shares of Perrigo by 3,574.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,430,805 shares of the company’s stock valued at $37,000 after purchasing an additional 1,391,870 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Perrigo by 833.7% during the first quarter. Parallel Advisors LLC now owns 803 shares of the company’s stock valued at $39,000 after purchasing an additional 717 shares during the last quarter. Advisor Group Inc. grew its stake in shares of Perrigo by 822.2% during the fourth quarter. Advisor Group Inc. now owns 1,079 shares of the company’s stock valued at $41,000 after purchasing an additional 962 shares during the last quarter. Finally, Covington Capital Management bought a new stake in shares of Perrigo during the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 86.02% of the company’s stock.
PRGO has been the topic of several research analyst reports. ValuEngine cut shares of Perrigo from a “sell” rating to a “strong sell” rating in a research note on Monday, April 1st. SunTrust Banks reduced their price objective on shares of Perrigo to $46.00 and set a “hold” rating on the stock in a research note on Thursday, April 4th. Morgan Stanley reduced their price objective on shares of Perrigo from $67.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 26th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $107.00 price objective on shares of Perrigo in a research note on Wednesday, May 8th. Finally, Wells Fargo & Co set a $45.00 price objective on shares of Perrigo and gave the company a “hold” rating in a research note on Wednesday, June 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Perrigo has an average rating of “Hold” and a consensus price target of $66.38.
Perrigo (NYSE:PRGO) last released its earnings results on Wednesday, May 8th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.13. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. Perrigo had a net margin of 2.43% and a return on equity of 10.40%. During the same quarter last year, the firm earned $1.26 earnings per share. As a group, analysts expect that Perrigo Company PLC will post 3.92 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Friday, May 31st were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 1.73%. This is an increase from Perrigo’s previous quarterly dividend of $0.19. Perrigo’s dividend payout ratio (DPR) is 18.46%.
Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.
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