In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Perrigo Co Plc. (NYSE:PRGO) reported that Starboard Value LP. has picked up 9,641,425 of common stock as of 2017-02-07.
The acquisition brings the aggregate amount owned by Starboard Value LP. to a total of 9,641,425 representing a 6.7% stake in the company.
For those not familiar with the company, Perrigo Company plc is a leading global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and prescription (Rx) pharmaceuticals, nutritional products, and active pharmaceutical ingredients (API), as well as receives royalties from Multiple Sclerosis drug Tysabri®. The company is the world’s largest manufacturer of OTC pharmaceutical products for the store brand market and an industry leader in pharmaceutical technologies.
A glance at Perrigo Co Plc. (NYSE:PRGO)’s key stats reveals a current market capitalization of 11.19 billion based on 143.37 million shares outstanding and a price at last close of $77.76 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-11-21, Parker picked up 2,500 at a purchase price of $88.75. This brings their total holding to 2,500 as of the date of the filing.
On the sell side, the most recent transaction saw Brown unload 2,097 shares at a sale price of $89.44. This brings their total holding to 10,007.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Perrigo Co Plc. (NYSE:PRGO) as things move forward to see if its progress aligns with these transactions.
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