Millennium Management LLC Lowers Stake in Perrigo Company PLC (PRGO)

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Millennium Management LLC lowered its holdings in Perrigo Company PLC (NYSE:PRGO) by 98.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,796 shares of the company’s stock after selling 1,395,816 shares during the period. Millennium Management LLC’s holdings in Perrigo were worth $1,516,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Piedmont Investment Advisors LLC bought a new stake in Perrigo during the 2nd quarter worth approximately $110,000. Dupont Capital Management Corp increased its holdings in Perrigo by 63.8% during the 2nd quarter. Dupont Capital Management Corp now owns 1,705 shares of the company’s stock worth $124,000 after acquiring an additional 664 shares during the period. Allianz Asset Management GmbH bought a new stake in Perrigo during the 1st quarter worth approximately $205,000. Dynamic Technology Lab Private Ltd bought a new stake in Perrigo during the 1st quarter worth approximately $208,000. Finally, Intact Investment Management Inc. bought a new stake in Perrigo during the 2nd quarter worth approximately $219,000. 83.01% of the stock is currently owned by institutional investors.

In related news, EVP Svend Andersen purchased 7,200 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was acquired at an average price of $69.43 per share, with a total value of $499,896.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 6.90% of the stock is owned by insiders.

A number of analysts recently weighed in on PRGO shares. Canaccord Genuity set a $90.00 target price on shares of Perrigo and gave the stock a “buy” rating in a report on Friday, August 17th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $107.00 target price on shares of Perrigo in a report on Wednesday, July 18th. Jefferies Financial Group reaffirmed a “hold” rating and set a $73.00 target price on shares of Perrigo in a report on Friday, August 10th. Royal Bank of Canada decreased their target price on shares of Perrigo from $89.00 to $67.00 and set a “hold” rating on the stock in a report on Friday, August 10th. Finally, Stifel Nicolaus decreased their target price on shares of Perrigo from $92.00 to $87.00 and set a “hold” rating on the stock in a report on Friday, August 10th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $88.07.

PRGO stock opened at $69.79 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.81 and a quick ratio of 1.23. Perrigo Company PLC has a one year low of $67.40 and a one year high of $95.93. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 2.21 and a beta of 0.84.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Thursday, August 9th. The company reported $1.22 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.01. Perrigo had a net margin of 4.77% and a return on equity of 11.92%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the company earned $1.22 EPS. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that Perrigo Company PLC will post 4.85 earnings per share for the current fiscal year.

About Perrigo

Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products worldwide. 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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