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 (EPS) guidance of 2.500-2.650 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Piper Sandler decreased their price objective on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 target price on shares of Perrigo in a research note on Monday, September 30th. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $30.00 target price (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Perrigo Price Performance

PRGO traded down $0.46 on Friday, hitting $26.47. 432,303 shares of the company’s stock traded hands, compared to its average volume of 1,619,813. The company’s 50 day simple moving average is $26.19 and its 200-day simple moving average is $27.52. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of -29.27 and a beta of 0.48. Perrigo has a one year low of $23.89 and a one year high of $34.60. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 0.80.

Perrigo (NYSE:PRGO) last issued 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 company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. As a group, research analysts anticipate that Perrigo will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Friday, November 29th. Perrigo’s dividend payout ratio is presently -119.57%.

Insider Buying and Selling at Perrigo

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the firm’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 completion of the transaction, the director now owns 6,009 shares in the company, valued at $164,045.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Ronald Craig Janish sold 13,000 shares of Perrigo stock in a transaction that occurred on 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 transaction, the executive vice president now owns 20,553 shares in the company, valued at approximately $604,258.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Katherine C. Doyle sold 8,954 shares of Perrigo stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the transaction, the director now owns 6,009 shares of the company’s stock, valued at approximately $164,045.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,254 shares of company stock worth $1,411,969 in the last quarter. 0.40% of the stock is owned by corporate 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.