Perrigo Company plc (NYSE:PRGO – Get Rating) – Equities researchers at Zacks Research reduced their Q2 2023 earnings estimates for shares of Perrigo in a research note issued on Tuesday, May 23rd. Zacks Research analyst S. Ganoria now expects that the company will post earnings of $0.56 per share for the quarter, down from their previous estimate of $0.60. The consensus estimate for Perrigo’s current full-year earnings is $2.57 per share. Zacks Research also issued estimates for Perrigo’s Q4 2023 earnings at $0.86 EPS, FY2023 earnings at $2.57 EPS, Q4 2024 earnings at $0.84 EPS, FY2024 earnings at $3.07 EPS, Q1 2025 earnings at $0.77 EPS and FY2025 earnings at $3.50 EPS.
Perrigo (NYSE:PRGO – Get Rating) last posted its quarterly earnings results on Tuesday, May 9th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.42 by $0.03. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Perrigo had a negative net margin of 2.85% and a positive return on equity of 6.21%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.33 earnings per share.
Perrigo Stock Down 0.3 %
Perrigo stock opened at $32.39 on Friday. The business’s 50-day moving average price is $35.37 and its 200 day moving average price is $34.96. The company has a quick ratio of 1.43, a current ratio of 2.52 and a debt-to-equity ratio of 0.84. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of -33.74 and a beta of 0.79. Perrigo has a 52 week low of $30.78 and a 52 week high of $43.90.
Perrigo Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Friday, June 2nd will be given a dividend of $0.273 per share. This represents a $1.09 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Thursday, June 1st. Perrigo’s dividend payout ratio is presently -113.54%.
Insider Buying and Selling at Perrigo
In other Perrigo news, EVP Ronald Craig Janish sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $36.92, for a total transaction of $166,140.00. Following the completion of the sale, the executive vice president now directly owns 20,191 shares in the company, valued at approximately $745,451.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Perrigo news, EVP Ronald Craig Janish sold 4,500 shares of the firm’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $36.92, for a total value of $166,140.00. Following the transaction, the executive vice president now owns 20,191 shares in the company, valued at approximately $745,451.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Geoffrey M. Parker bought 5,000 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were acquired at an average cost of $38.05 per share, with a total value of $190,250.00. Following the acquisition, the director now directly owns 15,879 shares of the company’s stock, valued at $604,195.95. The disclosure for this purchase can be found here. Insiders have sold a total of 214,869 shares of company stock valued at $7,685,712 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its position in shares of Perrigo by 73.0% during the 1st quarter. CWM LLC now owns 699 shares of the company’s stock worth $25,000 after purchasing an additional 295 shares during the last quarter. State of Michigan Retirement System boosted its position in shares of Perrigo by 0.9% during the 4th quarter. State of Michigan Retirement System now owns 34,258 shares of the company’s stock worth $1,168,000 after acquiring an additional 300 shares in the last quarter. Veriti Management LLC increased its holdings in shares of Perrigo by 4.5% in the 4th quarter. Veriti Management LLC now owns 7,218 shares of the company’s stock valued at $246,000 after acquiring an additional 308 shares during the last quarter. Arizona State Retirement System raised its position in shares of Perrigo by 0.9% during the 3rd quarter. Arizona State Retirement System now owns 36,564 shares of the company’s stock worth $1,304,000 after acquiring an additional 311 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in Perrigo by 0.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 39,617 shares of the company’s stock worth $1,351,000 after purchasing an additional 343 shares during the last quarter. 94.09% of the stock is currently owned by institutional investors and hedge funds.
Perrigo Company Profile
Perrigo Co Plc engages in the provision of self-care products and over-the-counter (OTC) health and wellness solutions. It enhances individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. It operates through the following segments: Consumer Self-Care Americas (CSCA) and Consumer Self-Care International (CSCI).
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