Sector Gamma AS Decreases Holdings in Perrigo Company PLC (NYSE:PRGO)

Sector Gamma AS cut its holdings in shares of Perrigo Company PLC (NYSE:PRGO) by 7.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 257,844 shares of the company’s stock after selling 20,000 shares during the quarter. Perrigo accounts for approximately 2.4% of Sector Gamma AS’s investment portfolio, making the stock its 15th biggest holding. Sector Gamma AS’s holdings in Perrigo were worth $14,411,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FTB Advisors Inc. increased its holdings in Perrigo by 0.3% in the 2nd quarter. FTB Advisors Inc. now owns 65,283 shares of the company’s stock worth $3,108,000 after acquiring an additional 197 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Perrigo by 3.2% in the 3rd quarter. Louisiana State Employees Retirement System now owns 6,500 shares of the company’s stock worth $363,000 after acquiring an additional 200 shares during the last quarter. World Asset Management Inc boosted its stake in Perrigo by 3.4% in the 2nd quarter. World Asset Management Inc now owns 8,014 shares of the company’s stock worth $382,000 after purchasing an additional 266 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Perrigo by 1.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,967 shares of the company’s stock worth $1,563,000 after purchasing an additional 307 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in Perrigo by 0.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 46,822 shares of the company’s stock worth $2,230,000 after purchasing an additional 311 shares during the period. 87.89% of the stock is owned by institutional investors.

Several research analysts have commented on PRGO shares. TheStreet upgraded Perrigo from a “d+” rating to a “c-” rating in a research note on Friday, September 27th. Argus upgraded Perrigo from a “hold” rating to a “buy” rating in a research note on Friday, October 11th. SunTrust Banks raised their target price on Perrigo from $51.00 to $55.00 and gave the stock a “hold” rating in a research note on Wednesday, September 25th. They noted that the move was a valuation call. Wells Fargo & Co raised their target price on Perrigo from $45.00 to $52.00 and gave the stock a “market perform” rating in a research note on Monday, September 30th. Finally, ValuEngine upgraded Perrigo from a “sell” rating to a “hold” rating in a research note on Wednesday, September 11th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $56.71.

NYSE PRGO traded up $0.28 during trading hours on Friday, hitting $50.05. The company had a trading volume of 926,243 shares, compared to its average volume of 1,261,356. Perrigo Company PLC has a 52 week low of $36.28 and a 52 week high of $66.15. The firm has a 50 day simple moving average of $53.80 and a 200 day simple moving average of $49.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.92. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 5.50 and a beta of 1.46.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.11. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.20 billion. Perrigo had a return on equity of 9.57% and a net margin of 1.87%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the company posted $1.09 EPS. On average, research analysts forecast that Perrigo Company PLC will post 3.94 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.68%. Perrigo’s dividend payout ratio (DPR) is presently 18.46%.

In other news, CFO Ronald Winowiecki sold 826 shares of Perrigo stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $48.03, for a total transaction of $39,672.78. Following the completion of the sale, the chief financial officer now owns 6,952 shares in the company, valued at approximately $333,904.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.70% of the company’s stock.

Perrigo 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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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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