Perrigo (NYSE:PRGO) Updates FY24 Earnings Guidance

Perrigo (NYSE:PRGO - Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.50 to $2.65 for the period, compared to the consensus earnings per share estimate of $2.57. Perrigo also updated its FY 2024 guidance to 2.500-2.650 EPS.

Perrigo Stock Up 7.9 %

PRGO stock traded up $1.99 during midday trading on Wednesday, hitting $27.34. The company's stock had a trading volume of 3,627,494 shares, compared to its average volume of 1,624,429. Perrigo has a 12 month low of $23.89 and a 12 month high of $34.60. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average of $26.26 and a two-hundred day moving average of $27.53.

Perrigo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.276 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.10 annualized dividend and a dividend yield of 4.04%. Perrigo's dividend payout ratio (DPR) is -119.57%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Piper Sandler decreased their price objective on Perrigo from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, July 11th. Jefferies Financial Group restated a "hold" rating and set a $30.00 price target (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. StockNews.com lowered Perrigo from a "buy" rating to a "hold" rating in a report on Friday, October 25th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $42.00 price target on shares of Perrigo in a report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

Insider Transactions at Perrigo

In other news, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction of $244,444.20. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Svend Andersen sold 28,300 shares of the firm's stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total transaction of $785,325.00. Following the sale, the executive vice president now owns 73,553 shares of the company's stock, valued at $2,041,095.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 sale, the director now directly owns 6,009 shares in the company, valued at approximately $164,045.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,254 shares of company stock valued at $1,411,969. 0.40% of the stock is currently owned by corporate insiders.

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.