Perrigo (NYSE:PRGO) Announces Earnings Results

Perrigo (NYSE:PRGO) announced its quarterly earnings data on Wednesday. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.75 by $0.05, Zacks reports. Perrigo had a positive return on equity of 9.09% and a negative net margin of 1.86%.The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The business’s revenue was down 4.1% on a year-over-year basis. Perrigo updated its FY 2025 guidance to 2.700-2.80 EPS.

Perrigo Price Performance

Shares of Perrigo stock traded down $0.54 during trading hours on Friday, reaching $14.40. The company’s stock had a trading volume of 3,055,833 shares, compared to its average volume of 1,648,682. The firm has a 50 day moving average price of $21.52 and a 200-day moving average price of $24.48. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24. The stock has a market cap of $1.98 billion, a P/E ratio of -24.82 and a beta of 0.42. Perrigo has a one year low of $14.17 and a one year high of $30.93.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 28th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date of this dividend is Friday, November 28th. Perrigo’s dividend payout ratio (DPR) is presently -305.26%.

Insider Buying and Selling

In related news, EVP Abigail Lennox acquired 1,255 shares of the stock in a transaction dated Monday, September 8th. The stock was acquired at an average cost of $22.41 per share, with a total value of $28,124.55. Following the purchase, the executive vice president directly owned 1,255 shares of the company’s stock, valued at approximately $28,124.55. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Geoffrey M. Parker bought 4,375 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were bought at an average cost of $22.97 per share, for a total transaction of $100,493.75. Following the transaction, the director owned 33,287 shares in the company, valued at approximately $764,602.39. The trade was a 15.13% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 10,118 shares of company stock worth $232,699. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Amundi raised its stake in shares of Perrigo by 11.7% in the first quarter. Amundi now owns 5,292 shares of the company’s stock valued at $148,000 after acquiring an additional 556 shares during the period. Kestra Investment Management LLC raised its position in Perrigo by 57.1% in the 2nd quarter. Kestra Investment Management LLC now owns 1,766 shares of the company’s stock worth $47,000 after purchasing an additional 642 shares during the period. Geneos Wealth Management Inc. lifted its stake in Perrigo by 439.1% in the first quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock worth $27,000 after purchasing an additional 786 shares during the last quarter. M&T Bank Corp boosted its position in shares of Perrigo by 20.5% during the second quarter. M&T Bank Corp now owns 7,956 shares of the company’s stock valued at $213,000 after buying an additional 1,354 shares during the period. Finally, Treasurer of the State of North Carolina grew its stake in shares of Perrigo by 2.6% during the second quarter. Treasurer of the State of North Carolina now owns 63,632 shares of the company’s stock valued at $1,700,000 after buying an additional 1,628 shares during the last quarter. Institutional investors own 95.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PRGO shares. Weiss Ratings reissued a “sell (d)” rating on shares of Perrigo in a report on Wednesday, October 8th. Canaccord Genuity Group reduced their price objective on shares of Perrigo from $40.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday. Jefferies Financial Group lowered their target price on shares of Perrigo from $27.00 to $23.00 and set a “hold” rating on the stock in a report on Monday, October 27th. Wall Street Zen raised shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $20.00 price target (down from $32.00) on shares of Perrigo in a report on Thursday. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.50.

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.