Zacks Research Issues Negative Estimate for Perrigo Earnings

Perrigo Company plc (NYSE:PRGO - Free Report) - Zacks Research dropped their Q3 2024 earnings estimates for Perrigo in a report released on Monday, November 4th. Zacks Research analyst S. Ganoria now anticipates that the company will post earnings per share of $0.83 for the quarter, down from their prior estimate of $0.84. The consensus estimate for Perrigo's current full-year earnings is $2.56 per share. Zacks Research also issued estimates for Perrigo's Q1 2025 earnings at $0.66 EPS, Q2 2025 earnings at $0.70 EPS, Q3 2025 earnings at $0.78 EPS, Q4 2025 earnings at $0.94 EPS, FY2025 earnings at $3.09 EPS, Q1 2026 earnings at $0.74 EPS, Q2 2026 earnings at $0.79 EPS, Q3 2026 earnings at $0.84 EPS and FY2026 earnings at $3.38 EPS.

Several other research analysts have also recently issued reports on the stock. StockNews.com cut shares of Perrigo from a "buy" rating to a "hold" rating in a report on Friday, October 25th. Canaccord Genuity Group reiterated a "buy" rating and set a $42.00 price objective on shares of Perrigo in a research note on Monday, September 30th. Jefferies Financial Group restated a "hold" rating and issued a $30.00 target price (down previously from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Finally, Piper Sandler reduced their price target 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 given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

Perrigo Price Performance

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

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be issued a $0.276 dividend. The ex-dividend date of this dividend 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 -119.57%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Central Pacific Bank Trust Division purchased a new stake in shares of Perrigo in the first quarter valued at about $48,000. Venturi Wealth Management LLC purchased a new stake in shares of Perrigo in the 3rd quarter valued at approximately $56,000. Beach Investment Counsel Inc. PA acquired a new stake in shares of Perrigo during the 2nd quarter worth approximately $72,000. KBC Group NV raised its position in shares of Perrigo by 25.1% during the 3rd quarter. KBC Group NV now owns 4,517 shares of the company's stock valued at $118,000 after buying an additional 905 shares during the period. Finally, Voisard Asset Management Group Inc. lifted its holdings in Perrigo by 520.0% in the second quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company's stock valued at $119,000 after acquiring an additional 3,900 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

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.