Perrigo Company (PRGO) Stake Increased by FTB Advisors Inc.
FTB Advisors Inc. lifted its stake in shares of Perrigo Company (NYSE:PRGO) by 8.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,314 shares of the company’s stock after purchasing an additional 3,299 shares during the quarter. FTB Advisors Inc.’s holdings in Perrigo were worth $3,120,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Perrigo by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 14,874,096 shares of the company’s stock valued at $1,123,292,000 after purchasing an additional 299,328 shares during the period. BlackRock Inc. boosted its stake in shares of Perrigo by 3,825.1% during the 1st quarter. BlackRock Inc. now owns 12,154,494 shares of the company’s stock worth $806,936,000 after acquiring an additional 11,844,832 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Perrigo by 117.7% during the 2nd quarter. Franklin Resources Inc. now owns 8,109,742 shares of the company’s stock worth $612,448,000 after acquiring an additional 4,383,903 shares in the last quarter. State Street Corp boosted its stake in shares of Perrigo by 8.5% during the 1st quarter. State Street Corp now owns 6,644,799 shares of the company’s stock worth $441,153,000 after acquiring an additional 520,967 shares in the last quarter. Finally, Manning & Napier Advisors LLC boosted its stake in shares of Perrigo by 6.8% during the 2nd quarter. Manning & Napier Advisors LLC now owns 2,586,068 shares of the company’s stock worth $195,298,000 after acquiring an additional 165,232 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.
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In other Perrigo news, EVP Sharon Kochan sold 318 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $81.36, for a total transaction of $25,872.48. Following the completion of the sale, the executive vice president now owns 10,231 shares of the company’s stock, valued at approximately $832,394.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas Farrington sold 616 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $76.90, for a total transaction of $47,370.40. Following the sale, the executive vice president now directly owns 2,724 shares of the company’s stock, valued at approximately $209,475.60. The disclosure for this sale can be found here. Insiders sold a total of 6,894 shares of company stock valued at $581,320 in the last ninety days. 6.90% of the stock is owned by corporate insiders.
Several brokerages have recently commented on PRGO. Cantor Fitzgerald set a $93.00 target price on Perrigo and gave the stock a “buy” rating in a research report on Thursday, August 10th. Canaccord Genuity restated a “buy” rating and set a $88.00 target price (up from $80.00) on shares of Perrigo in a report on Thursday, August 10th. Deutsche Bank AG restated a “buy” rating and set a $88.00 target price (up from $86.00) on shares of Perrigo in a report on Monday, July 17th. Oppenheimer Holdings, Inc. began coverage on Perrigo in a research note on Monday, October 2nd. They issued a “buy” rating and a $88.00 price objective on the stock. Finally, UBS AG reiterated a “buy” rating and issued a $98.00 price objective (up from $84.00) on shares of Perrigo in a research note on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. Perrigo has a consensus rating of “Hold” and an average target price of $88.50.
Perrigo Company (PRGO) traded up 0.14% during trading on Friday, hitting $87.78. 828,036 shares of the stock were exchanged. Perrigo Company has a 52 week low of $63.68 and a 52 week high of $92.64. The firm’s market cap is $12.52 billion. The firm’s 50-day moving average is $84.29 and its 200 day moving average is $75.44.
Perrigo (NYSE:PRGO) last posted its earnings results on Thursday, August 10th. The company reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.28. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.18 billion. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.55%. Perrigo’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.93 EPS. Analysts expect that Perrigo Company will post $4.59 earnings per share for the current fiscal year.
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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