Bank of Nova Scotia Raises Stake in Perrigo Company (PRGO)

Bank of Nova Scotia boosted its stake in shares of Perrigo Company (NYSE:PRGO) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,219 shares of the company’s stock after buying an additional 80 shares during the period. Bank of Nova Scotia’s holdings in Perrigo were worth $214,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PRGO. Advantus Capital Management Inc increased its position in Perrigo by 0.6% in the first quarter. Advantus Capital Management Inc now owns 14,299 shares of the company’s stock valued at $949,000 after buying an additional 86 shares during the last quarter. Arizona State Retirement System increased its position in Perrigo by 0.3% in the first quarter. Arizona State Retirement System now owns 35,500 shares of the company’s stock valued at $2,357,000 after buying an additional 100 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Perrigo by 3.8% in the first quarter. Daiwa Securities Group Inc. now owns 4,050 shares of the company’s stock valued at $269,000 after buying an additional 150 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in Perrigo by 4.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,824 shares of the company’s stock valued at $237,000 after buying an additional 154 shares during the last quarter. Finally, State Treasurer State of Michigan increased its position in Perrigo by 0.4% in the first quarter. State Treasurer State of Michigan now owns 47,122 shares of the company’s stock valued at $3,128,000 after buying an additional 200 shares during the last quarter. Institutional investors own 76.38% of the company’s stock.

Perrigo Company (NYSE:PRGO) traded down 1.39% during mid-day trading on Tuesday, reaching $66.57. 1,834,288 shares of the company traded hands. Perrigo Company has a 52-week low of $65.47 and a 52-week high of $99.14. The firm’s 50-day moving average is $74.16 and its 200 day moving average is $73.30. The stock’s market capitalization is $9.55 billion.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Tuesday, May 30th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. Perrigo had a positive return on equity of 11.79% and a negative net margin of 43.81%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm earned $1.32 earnings per share. The business’s revenue was down 11.4% on a year-over-year basis. On average, equities research analysts expect that Perrigo Company will post $4.28 earnings per share for the current year.

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Several research firms have issued reports on PRGO. BidaskClub downgraded shares of Perrigo from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Cantor Fitzgerald set a $85.00 price target on shares of Perrigo and gave the stock a “buy” rating in a research note on Monday, July 24th. Royal Bank Of Canada set a $60.00 price target on shares of Perrigo and gave the stock a “sell” rating in a research note on Sunday, July 16th. Deutsche Bank AG restated a “buy” rating and set a $88.00 price objective (up from $86.00) on shares of Perrigo in a research report on Monday, July 17th. Finally, ValuEngine cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $84.97.

Perrigo Company Profile

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.

Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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