Perrigo (NYSE:PRGO) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Perrigo (NYSE:PRGO) issued its earnings results on Thursday. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.01, Zacks reports. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%.

Perrigo Trading Down 3.3 %

PRGO stock opened at $24.09 on Friday. The company’s 50-day simple moving average is $24.87 and its 200-day simple moving average is $26.18. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. Perrigo has a 52-week low of $23.14 and a 52-week high of $33.46. The firm has a market cap of $3.29 billion, a P/E ratio of -20.59 and a beta of 0.54.

Perrigo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.82%. This is a positive change from Perrigo’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 7th. Perrigo’s dividend payout ratio is presently -99.15%.

Analysts Set New Price Targets

Several research firms have recently issued reports on PRGO. StockNews.com lowered Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Piper Sandler downgraded Perrigo from an “overweight” rating to a “neutral” rating and cut their price target for the company from $34.00 to $27.00 in a research note on Monday, January 6th. Finally, Argus downgraded Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.00.

Insider Buying and Selling

In other news, Director Jeffrey B. Kindler sold 17,598 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the completion of the sale, the director now owns 5,409 shares in the company, valued at $152,912.43. This trade represents a 76.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.40% of the company’s stock.

About Perrigo

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.