Perrigo (NYSE:PRGO) Releases FY 2024 Earnings Guidance

Perrigo (NYSE:PRGO) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.500-2.650 for the period, compared to the consensus EPS estimate of 2.560. The company issued revenue guidance of $4.4 billion-, compared to the consensus revenue estimate of $4.5 billion. Perrigo also updated its FY24 guidance to $2.50 to $2.65 EPS.

Analyst Upgrades and Downgrades

PRGO has been the subject of several recent analyst reports. Piper Sandler dropped their target price on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a research note on Thursday. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 price target on shares of Perrigo in a report on Monday, September 30th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 price objective (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Perrigo Price Performance

Shares of PRGO stock traded down $0.49 during trading hours on Friday, hitting $26.44. The stock had a trading volume of 462,050 shares, compared to its average volume of 1,619,950. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.99 and a quick ratio of 1.24. Perrigo has a one year low of $23.89 and a one year high of $34.60. The stock’s 50-day moving average price is $26.19 and its two-hundred day moving average price is $27.52. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of -29.27 and a beta of 0.48.

Perrigo (NYSE:PRGO) last posted its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm posted $0.64 earnings per share. Perrigo’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts forecast that Perrigo will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be issued a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend is Friday, November 29th. Perrigo’s payout ratio is -119.57%.

Insider Transactions at Perrigo

In other news, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the sale, the director now owns 6,009 shares of the company’s stock, valued at approximately $164,045.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction of $244,444.20. Following the completion of the sale, the director now directly owns 6,009 shares of the company’s stock, valued at approximately $164,045.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ronald Craig Janish sold 13,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $29.40, for a total value of $382,200.00. Following the completion of the transaction, the executive vice president now directly owns 20,553 shares in the company, valued at $604,258.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,254 shares of company stock worth $1,411,969. 0.40% of the stock is currently owned by company insiders.

Perrigo Company Profile

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.