Perrigo (NYSE:PRGO) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Perrigo (NYSE:PRGO - Get Free Report) announced its earnings results on Thursday. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.01, Zacks reports. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%.

Perrigo Price Performance

Shares of Perrigo stock traded down $0.04 during trading on Monday, hitting $28.96. 3,893,811 shares of the company's stock traded hands, compared to its average volume of 1,601,213. The company has a market cap of $3.95 billion, a PE ratio of -24.75 and a beta of 0.54. The firm's fifty day moving average price is $24.94 and its 200 day moving average price is $26.19. Perrigo has a twelve month low of $23.14 and a twelve month high of $33.46. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77.

Perrigo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be paid a $0.29 dividend. This is a boost from Perrigo's previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 7th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.01%. Perrigo's dividend payout ratio is currently -92.80%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PRGO shares. StockNews.com downgraded shares of Perrigo from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Piper Sandler lowered shares of Perrigo from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $34.00 to $27.00 in a research report on Monday, January 6th. Finally, Argus lowered shares of Perrigo from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $33.00.

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Insider Buying and Selling

In other news, Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $28.27, for a total value of $497,495.46. Following the completion of the transaction, the director now directly owns 5,409 shares of the company's stock, valued at approximately $152,912.43. This represents a 76.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.70% 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.