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.

Analysts Set New Price Targets

PRGO has been the subject of a number of recent research reports. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research report on Thursday. Piper Sandler cut their price objective 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. Canaccord Genuity Group restated a “buy” rating and set a $42.00 target price on shares of Perrigo in a research report on Monday, September 30th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 price target (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently 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 during mid-day trading on Friday, hitting $26.36. The company had a trading volume of 1,634,316 shares, compared to its average volume of 1,625,353. Perrigo has a 1-year low of $23.89 and a 1-year high of $34.60. The business’s 50-day simple moving average is $26.19 and its 200-day simple moving average is $27.52. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.24.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. Perrigo’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the business earned $0.64 EPS. On average, research analysts predict that Perrigo will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

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

Insider Transactions at Perrigo

In other Perrigo news, EVP Svend Andersen sold 28,300 shares of Perrigo stock in a transaction that occurred on Tuesday, August 20th. The shares were 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 $2,041,095.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Perrigo news, EVP Svend Andersen sold 28,300 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total value of $785,325.00. Following the transaction, the executive vice president now directly owns 73,553 shares of the company’s stock, valued at $2,041,095.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ronald Craig Janish sold 13,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the completion of the sale, the executive vice president now directly owns 20,553 shares of the company’s stock, valued at $604,258.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,254 shares of company stock worth $1,411,969. 0.70% of the stock is currently owned by company insiders.

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.