Commerzbank Aktiengesellschaft FI Lowers Position in Perrigo Company PLC (NYSE:PRGO)

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Commerzbank Aktiengesellschaft FI lessened its position in Perrigo Company PLC (NYSE:PRGO) by 1.8% in the third quarter, HoldingsChannel reports. The firm owned 50,675 shares of the company’s stock after selling 927 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Perrigo were worth $2,832,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRGO. Parnassus Investments CA lifted its stake in shares of Perrigo by 89.7% in the 2nd quarter. Parnassus Investments CA now owns 3,700,000 shares of the company’s stock valued at $176,194,000 after purchasing an additional 1,750,000 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Perrigo by 4.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 18,911,635 shares of the company’s stock valued at $900,572,000 after purchasing an additional 819,399 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in shares of Perrigo in the 2nd quarter valued at approximately $32,441,000. BlackRock Inc. lifted its stake in shares of Perrigo by 6.8% in the 2nd quarter. BlackRock Inc. now owns 9,031,878 shares of the company’s stock valued at $430,099,000 after purchasing an additional 571,800 shares during the period. Finally, Nuveen Asset Management LLC purchased a new position in shares of Perrigo in the 2nd quarter valued at approximately $22,211,000. Institutional investors own 87.69% of the company’s stock.

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

In other Perrigo news, CFO Ronald Winowiecki sold 826 shares of Perrigo stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $48.03, for a total value of $39,672.78. Following the completion of the sale, the chief financial officer now owns 6,952 shares of the company’s stock, valued at approximately $333,904.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Theodore R. Samuels II bought 4,000 shares of Perrigo stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $46.97 per share, with a total value of $187,880.00. Following the acquisition, the director now owns 8,236 shares in the company, valued at approximately $386,844.92. The disclosure for this purchase can be found here. 7.70% of the stock is owned by company insiders.

PRGO stock opened at $53.90 on Monday. Perrigo Company PLC has a twelve month low of $36.28 and a twelve month high of $75.42. The company has a quick ratio of 1.39, a current ratio of 1.92 and a debt-to-equity ratio of 0.54. The firm has a market cap of $7.40 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 5.53 and a beta of 1.49. The business has a 50 day moving average of $52.77 and a 200 day moving average of $49.60.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.05. Perrigo had a return on equity of 9.57% and a net margin of 1.87%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the company earned $1.22 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, research analysts expect that Perrigo Company PLC will post 3.94 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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