Perrigo (NYSE:PRGO) Releases FY 2024 Earnings Guidance

Perrigo (NYSE:PRGO - Get Free Report) updated its FY 2024 earnings guidance on Wednesday. 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 also updated its FY24 guidance to $2.50 to $2.65 EPS.

Analysts Set New Price Targets

A number of brokerages have recently commented on PRGO. Jefferies Financial Group reiterated a "hold" rating and issued a $30.00 price target (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. StockNews.com cut Perrigo from a "buy" rating to a "hold" rating in a research note on Friday, October 25th. Canaccord Genuity Group reiterated a "buy" rating and issued a $42.00 price target on shares of Perrigo in a research note on Monday, September 30th. Finally, Piper Sandler lowered their target price on Perrigo from $36.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, July 11th. Two investment 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 company presently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

Perrigo Price Performance

NYSE:PRGO traded up $1.99 during trading hours on Wednesday, hitting $27.34. 3,627,494 shares of the company were exchanged, compared to its average volume of 1,624,429. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.80. Perrigo has a one year low of $23.89 and a one year high of $34.60. The company has a fifty day simple moving average of $26.26 and a 200 day simple moving average of $27.53.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.276 per share. The ex-dividend date is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a yield of 4.04%. Perrigo's payout ratio is currently -119.57%.

Insiders Place Their Bets

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Ronald Craig Janish sold 13,000 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the completion of the sale, the executive vice president now directly owns 20,553 shares in the company, valued at $604,258.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 owns 6,009 shares of the company's stock, valued at approximately $164,045.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,254 shares of company stock worth $1,411,969. 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.