Perrigo (NYSE:PRGO) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Perrigo (NYSE:PRGO) announced its earnings results on Wednesday. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.05, Zacks reports. Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Perrigo updated its FY 2025 guidance to 2.700-2.80 EPS.

Perrigo Stock Down 3.3%

NYSE PRGO traded down $0.50 during trading on Thursday, reaching $14.60. 2,598,762 shares of the company’s stock traded hands, compared to its average volume of 1,627,158. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -25.13 and a beta of 0.42. The company’s 50 day simple moving average is $21.70 and its two-hundred day simple moving average is $24.55. Perrigo has a 12-month low of $14.50 and a 12-month high of $30.93.

Perrigo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 28th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.16 dividend on an annualized basis and a yield of 7.9%. Perrigo’s dividend payout ratio (DPR) is -305.26%.

Insider Buying and Selling at Perrigo

In other Perrigo news, EVP Abigail Lennox bought 1,255 shares of the business’s stock in a transaction on Monday, September 8th. The shares were acquired at an average price of $22.41 per share, with a total value of $28,124.55. Following the transaction, the executive vice president owned 1,255 shares of the company’s stock, valued at approximately $28,124.55. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Eduardo Guarita Bezerra bought 3,000 shares of the business’s stock in a transaction on Monday, August 18th. The shares were acquired at an average cost of $22.74 per share, for a total transaction of $68,220.00. Following the transaction, the chief financial officer directly owned 48,949 shares in the company, valued at approximately $1,113,100.26. This trade represents a 6.53% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 10,118 shares of company stock worth $232,699. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp grew its position in shares of Perrigo by 9.5% in the 2nd quarter. State Street Corp now owns 7,340,323 shares of the company’s stock worth $196,134,000 after buying an additional 637,678 shares during the last quarter. Ion Asset Management Ltd. grew its position in shares of Perrigo by 34.7% in the 2nd quarter. Ion Asset Management Ltd. now owns 3,817,621 shares of the company’s stock worth $102,007,000 after buying an additional 983,727 shares during the last quarter. BW Gestao de Investimentos Ltda. grew its position in shares of Perrigo by 13.2% in the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 1,469,524 shares of the company’s stock worth $39,266,000 after buying an additional 171,080 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Perrigo by 52.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,308,334 shares of the company’s stock worth $34,959,000 after buying an additional 450,247 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Perrigo by 126.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,159,768 shares of the company’s stock worth $32,520,000 after buying an additional 647,982 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Analyst Ratings Changes

PRGO has been the topic of several recent analyst reports. Canaccord Genuity Group set a $20.00 target price on shares of Perrigo in a research note on Thursday. Wall Street Zen raised shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Perrigo in a research note on Wednesday, October 8th. Jefferies Financial Group reduced their price target on shares of Perrigo from $27.00 to $23.00 and set a “hold” rating on the stock in a research note on Monday, October 27th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $20.00 price target (down previously from $32.00) on shares of Perrigo in a research note on Thursday. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.50.

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.