Zacks Research Analysts Lower Earnings Estimates for Perrigo

Perrigo Company plc (NYSE:PRGO) – Analysts at Zacks Research decreased their FY2024 EPS estimates for shares of Perrigo in a research note issued to investors on Wednesday, November 27th. Zacks Research analyst S. Ganoria now anticipates that the company will post earnings per share of $2.55 for the year, down from their prior forecast of $2.56. The consensus estimate for Perrigo’s current full-year earnings is $2.56 per share. Zacks Research also issued estimates for Perrigo’s Q4 2024 earnings at $0.92 EPS, Q1 2025 earnings at $0.52 EPS, FY2025 earnings at $3.05 EPS and Q1 2026 earnings at $0.62 EPS.

Other analysts also recently issued research reports about the stock. 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 report on Monday, September 23rd. Canaccord Genuity Group restated a “buy” rating and issued a $42.00 target price on shares of Perrigo in a report 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, November 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.00.

Perrigo Stock Down 0.2 %

Perrigo stock opened at $28.42 on Monday. Perrigo has a one year low of $23.89 and a one year high of $34.60. The business’s fifty day moving average is $26.09 and its 200 day moving average is $27.00. 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 (NYSE:PRGO) last released its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. The firm had revenue of $1.09 billion during 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%. During the same period last year, the business earned $0.64 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis.

Hedge Funds Weigh In On Perrigo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC purchased a new position in Perrigo in the third quarter worth about $56,000. KBC Group NV raised its holdings in shares of Perrigo by 25.1% in the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after buying an additional 905 shares during the period. Voisard Asset Management Group Inc. lifted its stake in shares of Perrigo by 520.0% during the 2nd quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock worth $119,000 after acquiring an additional 3,900 shares during the last quarter. Atria Investments Inc purchased a new stake in shares of Perrigo during the third quarter valued at $208,000. Finally, CWM LLC grew its holdings in shares of Perrigo by 877.0% in the second quarter. CWM LLC now owns 8,197 shares of the company’s stock worth $210,000 after purchasing an additional 7,358 shares during the last quarter. 95.91% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the sale, the director now owns 6,009 shares in the company, valued at $164,045.70. The trade was a 59.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is currently owned by insiders.

Perrigo Announces Dividend

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 dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Friday, November 29th. Perrigo’s payout ratio is -94.02%.

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.