Perrigo (NYSE:PRGO) Issues FY24 Earnings Guidance

Perrigo (NYSE:PRGO) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.50 to $2.65 for the period, compared to the consensus estimate of $2.57. Perrigo also updated its FY 2024 guidance to 2.500-2.650 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PRGO shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 price target (down previously from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. Piper Sandler decreased their price target on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Canaccord Genuity Group restated a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a research note on Monday, September 30th. Finally, StockNews.com upgraded shares of 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Perrigo has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Perrigo Trading Down 2.1 %

Shares of PRGO traded down $0.57 on Friday, reaching $26.36. The stock had a trading volume of 1,634,316 shares, compared to its average volume of 1,625,353. The firm has a 50-day moving average of $26.19 and a 200 day moving average of $27.52. Perrigo has a twelve month low of $23.89 and a twelve month high of $34.60. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.24 and a current ratio of 2.56.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, meeting analysts’ consensus estimates of $0.81. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the company earned $0.64 EPS. The firm’s revenue was down 3.2% on a year-over-year basis. As a group, sell-side analysts predict that Perrigo will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

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 given a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Friday, November 29th. Perrigo’s dividend payout ratio is presently -94.02%.

Insiders Place Their Bets

In other Perrigo news, EVP Svend Andersen sold 28,300 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total value of $785,325.00. Following the completion of the transaction, the executive vice president now directly owns 73,553 shares in the company, valued at approximately $2,041,095.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Svend Andersen sold 28,300 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total transaction of $785,325.00. Following the completion of the transaction, the executive vice president now owns 73,553 shares of the company’s stock, valued at $2,041,095.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Katherine C. Doyle sold 8,954 shares of the company’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 transaction, the director now directly 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 disclosure for this sale can be found here. Insiders have sold 50,254 shares of company stock valued at $1,411,969 in the last ninety days. Insiders own 0.70% of the company’s stock.

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.