Perrigo (NYSE:PRGO) Issues FY24 Earnings Guidance

Perrigo (NYSE:PRGO) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.50-2.65 for the period, compared to the consensus estimate of $2.57. The company issued revenue guidance of flat yr/yr or $4.656 billion, compared to the consensus revenue estimate of $4.66 billion.

Perrigo Stock Performance

Perrigo stock traded down $0.27 during mid-day trading on Thursday, reaching $30.84. 562,480 shares of the company traded hands, compared to its average volume of 1,788,354. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.07. Perrigo has a fifty-two week low of $25.77 and a fifty-two week high of $40.28. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of -311.10 and a beta of 0.63. The firm’s fifty day moving average is $30.77 and its two-hundred day moving average is $30.93.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Saturday, May 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. Perrigo had a negative net margin of 0.27% and a positive return on equity of 7.34%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the business posted $0.45 EPS. Perrigo’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, equities research analysts expect that Perrigo will post 2.55 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Friday, May 31st will be paid a $0.276 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.58%. Perrigo’s payout ratio is currently -1,100.00%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PRGO. Canaccord Genuity Group restated a buy rating and set a $42.00 price target on shares of Perrigo in a research report on Friday, April 12th. JPMorgan Chase & Co. dropped their price target on shares of Perrigo from $48.00 to $41.00 and set an overweight rating on the stock in a research report on Wednesday, February 28th. Piper Sandler raised their price target on shares of Perrigo from $35.00 to $39.00 and gave the company an overweight rating in a research report on Monday, April 8th. Finally, StockNews.com lowered shares of Perrigo from a buy rating to a hold rating in a research report on Wednesday.

Insider Buying and Selling at Perrigo

In other Perrigo news, EVP Robert Willis purchased 6,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were purchased at an average cost of $25.87 per share, with a total value of $155,220.00. Following the completion of the purchase, the executive vice president now owns 25,105 shares in the company, valued at approximately $649,466.35. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Patrick Lockwood-Taylor acquired 9,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average cost of $26.54 per share, for a total transaction of $252,130.00. Following the completion of the transaction, the chief executive officer now owns 20,500 shares in the company, valued at $544,070. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Willis acquired 6,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were purchased at an average price of $25.87 per share, with a total value of $155,220.00. Following the completion of the transaction, the executive vice president now owns 25,105 shares of the company’s stock, valued at approximately $649,466.35. The disclosure for this purchase can be found here. Insiders have purchased a total of 17,990 shares of company stock valued at $475,227 over the last ninety days. Corporate insiders own 0.40% of the company’s stock.

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.