Perrigo (NYSE:PRGO) Issues FY 2024 Earnings Guidance

Perrigo (NYSE:PRGO) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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.

Perrigo Stock Performance

PRGO traded down $0.49 on Friday, hitting $26.44. The company had a trading volume of 462,050 shares, compared to its average volume of 1,619,950. Perrigo has a 1-year low of $23.89 and a 1-year high of $34.60. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of -29.27 and a beta of 0.48. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.99 and a quick ratio of 1.24. The company’s fifty day moving average price is $26.19 and its 200 day moving average price is $27.52.

Perrigo (NYSE:PRGO) last released its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.64 earnings per share. Equities analysts predict that Perrigo will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be given a $0.276 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Friday, November 29th. Perrigo’s payout ratio is presently -119.57%.

Analysts Set New Price Targets

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

Insider Activity

In related news, EVP Svend Andersen sold 28,300 shares of the business’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 sale, the executive vice president now directly owns 73,553 shares in the company, valued at approximately $2,041,095.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Svend Andersen sold 28,300 shares of the company’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 transaction, the executive vice president now owns 73,553 shares of the company’s stock, valued at approximately $2,041,095.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the sale, the director now directly owns 6,009 shares in the company, valued at approximately $164,045.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,254 shares of company stock valued at $1,411,969 over the last quarter. Company insiders own 0.40% of the company’s stock.

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.