Perrigo (NYSE:PRGO) Releases FY 2024 Earnings Guidance

Perrigo (NYSE:PRGO) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 2.500-2.650 for the period, compared to the consensus EPS estimate of 2.560. The company issued revenue guidance of $4.4 billion-, compared to the consensus revenue estimate of $4.5 billion.

Perrigo Stock Performance

PRGO opened at $25.35 on Wednesday. The firm has a fifty day moving average price of $26.26 and a 200 day moving average price of $27.53. Perrigo has a 1 year low of $23.89 and a 1 year high of $34.60. The stock has a market cap of $3.46 billion, a P/E ratio of -27.55 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.

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be given a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Friday, November 29th. Perrigo’s dividend payout ratio (DPR) is presently -119.57%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PRGO shares. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 price target (down previously from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. StockNews.com lowered Perrigo from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 price target on shares of Perrigo in a report on Monday, September 30th. Finally, Piper Sandler reduced 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Insider Activity

In other news, EVP Svend Andersen sold 28,300 shares of Perrigo 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 transaction, the executive vice president now owns 73,553 shares in the company, valued at $2,041,095.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Svend Andersen sold 28,300 shares of the firm’s 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 completion of the sale, the executive vice president now owns 73,553 shares in the company, valued at $2,041,095.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ronald Craig Janish sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were 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 $604,258.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,254 shares of company stock worth $1,411,969 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.