FY2024 EPS Estimates for Perrigo Decreased by Zacks Research

Perrigo Company plc (NYSE:PRGO) – Research analysts at Zacks Research dropped their FY2024 EPS estimates for shares of Perrigo in a research report issued on Wednesday, November 27th. Zacks Research analyst S. Ganoria now expects that the company will earn $2.55 per share for the year, down from their previous forecast of $2.56. The consensus estimate for Perrigo’s current full-year earnings is $2.56 per share. Zacks Research also issued estimates for Perrigo’s Q4 2024 earnings at $0.92 EPS, Q1 2025 earnings at $0.52 EPS, FY2025 earnings at $3.05 EPS and Q1 2026 earnings at $0.62 EPS.

Several other analysts have also commented on the company. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Canaccord Genuity Group restated a “buy” rating and set a $42.00 price objective on shares of Perrigo in a report on Monday, September 30th. Finally, StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Perrigo Stock Down 0.2 %

NYSE:PRGO opened at $28.42 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The company’s 50-day simple moving average is $26.09 and its 200-day simple moving average is $27.00. Perrigo has a fifty-two week low of $23.89 and a fifty-two week high of $34.60.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the business posted $0.64 EPS. The business’s revenue was down 3.2% compared to the same quarter last year.

Institutional Investors Weigh In On Perrigo

Hedge funds have recently modified their holdings of the business. Voisard Asset Management Group Inc. raised its holdings in shares of Perrigo by 9.7% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock worth $134,000 after acquiring an additional 450 shares during the period. Creative Planning increased its stake in Perrigo by 3.7% during the third quarter. Creative Planning now owns 18,477 shares of the company’s stock worth $485,000 after acquiring an additional 661 shares during the last quarter. Arizona State Retirement System raised its position in Perrigo by 1.9% in the second quarter. Arizona State Retirement System now owns 37,939 shares of the company’s stock valued at $974,000 after purchasing an additional 699 shares during the period. KBC Group NV lifted its stake in shares of Perrigo by 25.1% in the 3rd quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after purchasing an additional 905 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Perrigo by 3.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,083 shares of the company’s stock worth $747,000 after purchasing an additional 923 shares during the period. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Katherine C. Doyle sold 8,954 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 6,009 shares in the company, valued at approximately $164,045.70. The trade was a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is currently owned by insiders.

Perrigo Dividend Announcement

The company also recently announced 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. This represents a $1.10 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Friday, November 29th. Perrigo’s dividend payout ratio (DPR) is -94.02%.

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.