Perrigo (NYSE:PRGO) Updates FY 2024 Earnings Guidance

Perrigo (NYSE:PRGO) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.500-2.650 for the period, compared to the consensus earnings per share 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 topic of a number of research reports. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a report on Thursday. Jefferies Financial Group reissued a “hold” rating and set a $30.00 price objective (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a research note on Monday, September 30th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Perrigo has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Perrigo Trading Down 2.1 %

PRGO opened at $26.37 on Friday. The company has a quick ratio of 1.24, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The stock’s fifty day moving average is $26.13 and its two-hundred day moving average is $27.50. The company has a market capitalization of $3.60 billion, a P/E ratio of -22.53 and a beta of 0.48. Perrigo has a 52 week low of $23.89 and a 52 week high of $34.60.

Perrigo (NYSE:PRGO) last posted its earnings results 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 business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the firm posted $0.64 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts forecast that Perrigo will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be paid a $0.276 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.10 annualized dividend and a yield of 4.19%. Perrigo’s dividend payout ratio (DPR) is -94.02%.

Insider Buying and Selling at Perrigo

In other Perrigo news, EVP Svend Andersen sold 28,300 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Ronald Craig Janish sold 13,000 shares of the 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 sale, the executive vice president now owns 20,553 shares in the company, valued at $604,258.20. This represents 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 firm’s 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 transaction, the executive vice president now directly 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,254 shares of company stock worth $1,411,969. 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.