Meeder Asset Management Inc. increased its holdings in shares of Perrigo Company PLC (NYSE:PRGO) by 72.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,051 shares of the company’s stock after buying an additional 15,583 shares during the quarter. Meeder Asset Management Inc.’s holdings in Perrigo were worth $1,785,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Atlas Capital Advisors LLC acquired a new stake in Perrigo during the 4th quarter worth $26,000. Moody National Bank Trust Division acquired a new stake in Perrigo during the 1st quarter worth $32,000. Oregon Public Employees Retirement Fund raised its stake in Perrigo by 3,574.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,430,805 shares of the company’s stock worth $37,000 after buying an additional 1,391,870 shares during the period. Advisor Group Inc. raised its stake in Perrigo by 822.2% during the 4th quarter. Advisor Group Inc. now owns 1,079 shares of the company’s stock worth $41,000 after buying an additional 962 shares during the period. Finally, Covington Capital Management acquired a new stake in Perrigo during the 4th quarter worth $46,000. 85.29% of the stock is currently owned by institutional investors and hedge funds.
PRGO has been the topic of several research analyst reports. Wells Fargo & Co set a $46.00 price objective on Perrigo and gave the stock a “hold” rating in a research note on Sunday, December 30th. Cantor Fitzgerald set a $107.00 price objective on Perrigo and gave the stock a “buy prgo” rating in a research note on Thursday, December 20th. SunTrust Banks dropped their price objective on Perrigo to $46.00 and set a “hold” rating on the stock in a research note on Thursday, April 4th. Morgan Stanley set a $67.00 price objective on Perrigo and gave the stock a “hold” rating in a research note on Sunday, December 23rd. Finally, Royal Bank of Canada set a $48.00 price objective on Perrigo and gave the stock a “hold” rating in a research note on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $74.33.
PRGO stock opened at $50.60 on Wednesday. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 2.58 and a beta of 1.31. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.89 and a quick ratio of 1.32. Perrigo Company PLC has a 1 year low of $36.28 and a 1 year high of $83.26.
Perrigo (NYSE:PRGO) last released its earnings results on Wednesday, February 27th. The company reported $0.97 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.01). The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.18 billion. Perrigo had a return on equity of 10.74% and a net margin of 2.77%. Perrigo’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the company posted $1.28 EPS. As a group, sell-side analysts forecast that Perrigo Company PLC will post 4.17 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Friday, March 1st were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Thursday, February 28th. Perrigo’s dividend payout ratio (DPR) is presently 16.70%.
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Perrigo Company 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. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.
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