Trade Report: The Smith Salley & Associates Boosts Position in Perrigo Co. (PRGO)

The Smith Salley & Associates Boosts Position in Perrigo Co. (PRGO)

Smith Salley & Associates increased its stake in shares of Perrigo Co. (NYSE:PRGO) by 9.5% during the second quarter, Holdings Channel reports. The firm owned 32,256 shares of the company’s stock after buying an additional 2,807 shares during the period. Smith Salley & Associates’ holdings in Perrigo were worth $2,924,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of PRGO. Scopia Capital Management LP bought a new stake in Perrigo during the first quarter valued at $33,615,000. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management boosted its stake in Perrigo by 91.2% in the second quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 529,456 shares of the company’s stock valued at $48,006,000 after buying an additional 252,541 shares during the period. Silvercrest Asset Management Group LLC bought a new stake in Perrigo during the first quarter valued at $20,831,000. UBS Asset Management Americas Inc. boosted its stake in Perrigo by 13.2% in the first quarter. UBS Asset Management Americas Inc. now owns 1,109,594 shares of the company’s stock valued at $141,949,000 after buying an additional 129,485 shares during the period. Finally, PGGM Investments bought a new stake in Perrigo during the second quarter valued at $8,681,000. Hedge funds and other institutional investors own 71.17% of the company’s stock.

Shares of Perrigo Co. (NYSE:PRGO) traded up 0.29% on Monday, reaching $86.64. 328,799 shares of the company were exchanged. The company’s 50-day moving average is $92.50 and its 200-day moving average is $98.07. The company’s market capitalization is $12.41 billion. Perrigo Co. has a 52 week low of $82.50 and a 52 week high of $167.92.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $1.93 earnings per share for the quarter, missing the consensus estimate of $1.98 by $0.05. Perrigo had a positive return on equity of 10.27% and a negative net margin of 2.39%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the firm posted $2.18 EPS. Perrigo’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities analysts expect that Perrigo Co. will post $7.00 EPS for the current fiscal year.

Several research firms recently commented on PRGO. B. Riley reaffirmed a “neutral” rating and set a $101.00 target price on shares of Perrigo in a report on Sunday, July 3rd. Northland Securities lowered shares of Perrigo from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $123.00 to $94.00 in a report on Thursday, August 11th. JPMorgan Chase & Co. set a $90.00 target price on shares of Perrigo and gave the company a “hold” rating in a report on Thursday, August 11th. Zacks Investment Research lowered shares of Perrigo from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Finally, Vetr lowered shares of Perrigo from a “strong-buy” rating to a “buy” rating and set a $98.60 target price on the stock. in a report on Monday, July 25th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $113.37.

In related news, EVP Judy L. Brown sold 2,095 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $88.28, for a total transaction of $184,946.60. Following the sale, the executive vice president now directly owns 16,292 shares in the company, valued at approximately $1,438,257.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Herman Morris, Jr. sold 1,073 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $90.96, for a total value of $97,600.08. Following the sale, the director now owns 10,425 shares in the company, valued at $948,258. The disclosure for this sale can be found here. Corporate insiders own 4.47% of the company’s stock.

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