Perrigo (NYSE:PRGO) Issues Quarterly Earnings Results

Perrigo (NYSE:PRGOGet Free Report) posted its quarterly earnings data on Tuesday. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03, MarketWatch Earnings reports. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Perrigo had a positive return on equity of 7.34% and a negative net margin of 0.27%. The business’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. Perrigo updated its FY 2024 guidance to 2.500-2.650 EPS and its FY24 guidance to $2.50 to $2.65 EPS.

Perrigo Stock Performance

Perrigo stock traded down $0.58 during mid-day trading on Thursday, reaching $25.83. 1,453,784 shares of the company were exchanged, compared to its average volume of 1,668,609. Perrigo has a twelve month low of $25.78 and a twelve month high of $40.28. The firm’s 50-day simple moving average is $32.32 and its two-hundred day simple moving average is $31.93. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.60 and a current ratio of 1.79. The firm has a market cap of $3.50 billion, a PE ratio of -264.10 and a beta of 0.67.

Perrigo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Friday, March 8th will be given a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.27%. This is a boost from Perrigo’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, March 7th. Perrigo’s dividend payout ratio (DPR) is presently -1,090.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Piper Sandler assumed coverage on Perrigo in a report on Friday, November 17th. They issued an “overweight” rating and a $37.00 price objective on the stock. JPMorgan Chase & Co. cut their price target on Perrigo from $48.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $42.50.

Read Our Latest Analysis on PRGO

Institutional Trading of Perrigo

A number of hedge funds have recently added to or reduced their stakes in PRGO. Dark Forest Capital Management LP purchased a new position in shares of Perrigo during the 1st quarter worth approximately $31,000. NewEdge Advisors LLC raised its stake in shares of Perrigo by 345.5% during the 1st quarter. NewEdge Advisors LLC now owns 1,430 shares of the company’s stock worth $51,000 after buying an additional 1,109 shares in the last quarter. Covestor Ltd raised its stake in shares of Perrigo by 5,903.6% during the 1st quarter. Covestor Ltd now owns 1,681 shares of the company’s stock worth $65,000 after buying an additional 1,653 shares in the last quarter. Virtus Fund Advisers LLC raised its stake in shares of Perrigo by 55.5% during the 4th quarter. Virtus Fund Advisers LLC now owns 2,405 shares of the company’s stock worth $77,000 after buying an additional 858 shares in the last quarter. Finally, Group One Trading L.P. raised its stake in shares of Perrigo by 117.0% during the 1st quarter. Group One Trading L.P. now owns 2,182 shares of the company’s stock worth $78,000 after buying an additional 14,981 shares in the last quarter. 95.74% of the stock is owned by institutional investors and hedge funds.

Perrigo Company Profile

(Get Free Report)

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. The company operates through Consumer Self-Care Americas and Consumer Self-Care International segments. It develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products; infant formulas and nutritional beverages; digestive health products; pain and sleep-aids; oral care products; healthy lifestyle products, which includes weight management; skin care products; women's health products comprising feminine hygiene and contraceptives; vitamins, minerals, and supplements; rare diseases business; and other miscellaneous self-care products.

Further Reading

Earnings History for Perrigo (NYSE:PRGO)

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