Perrigo (NYSE:PRGO) Updates FY 2024 Earnings Guidance

Perrigo (NYSE:PRGO) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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.

Wall Street Analysts Forecast Growth

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

Perrigo Price Performance

NYSE PRGO traded down $0.52 on Friday, hitting $26.41. 360,437 shares of the company’s stock were exchanged, compared to its average volume of 1,619,482. Perrigo has a 52 week low of $23.89 and a 52 week high of $34.60. The stock has a 50-day moving average of $26.19 and a 200-day moving average of $27.52. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 0.80. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of -29.27 and a beta of 0.48.

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

Perrigo Announces Dividend

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

Insiders Place Their Bets

In related news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction 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 sale, the director now owns 6,009 shares of the company’s stock, valued at $164,045.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Katherine C. Doyle sold 8,954 shares of Perrigo stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the transaction, the director now directly owns 6,009 shares of the company’s stock, valued at $164,045.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Svend Andersen sold 28,300 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total transaction of $785,325.00. Following the sale, the executive vice president now owns 73,553 shares of the company’s stock, valued at approximately $2,041,095.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,254 shares of company stock valued at $1,411,969. 0.40% of the stock is currently owned by 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.