Perrigo (NYSE:PRGO) Updates FY24 Earnings Guidance

Perrigo (NYSE:PRGO) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.50-2.65 for the period, compared to the consensus EPS estimate of $2.57. The company issued revenue guidance of flat yr/yr or $4.656 billion, compared to the consensus revenue estimate of $4.66 billion.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com lowered Perrigo from a buy rating to a hold rating in a report on Wednesday. Canaccord Genuity Group restated a buy rating and set a $42.00 target price on shares of Perrigo in a report on Friday, April 12th. Piper Sandler upped their price target on shares of Perrigo from $35.00 to $39.00 and gave the company an overweight rating in a report on Monday, April 8th. Finally, JPMorgan Chase & Co. cut their price target on Perrigo from $48.00 to $41.00 and set an overweight rating on the stock in a research note on Wednesday, February 28th.

Perrigo Stock Performance

NYSE:PRGO traded up $0.04 during trading hours on Friday, reaching $31.06. The company had a trading volume of 68,013 shares, compared to its average volume of 1,775,576. The firm’s 50 day moving average price is $30.87 and its 200-day moving average price is $30.93. The company has a current ratio of 1.79, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76. Perrigo has a 52 week low of $25.77 and a 52 week high of $40.28. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of -443.00 and a beta of 0.63.

Perrigo (NYSE:PRGO) last announced its earnings results on Saturday, May 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. Perrigo had a positive return on equity of 7.34% and a negative net margin of 0.27%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the firm earned $0.45 EPS. The business’s revenue was down 8.4% on a year-over-year basis. On average, analysts forecast that Perrigo will post 2.55 EPS for the current year.

Perrigo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Friday, May 31st will be given a dividend of $0.276 per share. The ex-dividend date is Friday, May 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.55%. Perrigo’s dividend payout ratio (DPR) is presently -1,571.43%.

Insider Buying and Selling

In other Perrigo news, EVP Robert Willis bought 6,000 shares of the stock in a transaction on Thursday, February 29th. The stock was purchased at an average price of $25.87 per share, with a total value of $155,220.00. Following the completion of the purchase, the executive vice president now owns 25,105 shares in the company, valued at $649,466.35. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Patrick Lockwood-Taylor purchased 9,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were acquired at an average price of $26.54 per share, for a total transaction of $252,130.00. Following the purchase, the chief executive officer now owns 20,500 shares of the company’s stock, valued at approximately $544,070. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Willis purchased 6,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were purchased at an average cost of $25.87 per share, for a total transaction of $155,220.00. Following the completion of the acquisition, the executive vice president now directly owns 25,105 shares of the company’s stock, valued at approximately $649,466.35. The disclosure for this purchase can be found here. Insiders have bought 17,990 shares of company stock valued at $475,227 in the last 90 days. 0.70% of the stock is 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.