Perrigo (NYSE:PRGO) Issues Earnings Results

Perrigo (NYSE:PRGO) announced its quarterly earnings results on Thursday. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01, Zacks reports. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%.

Perrigo Stock Performance

Shares of Perrigo stock opened at $28.98 on Friday. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The business has a 50-day moving average price of $24.94 and a two-hundred day moving average price of $26.20. Perrigo has a 1-year low of $23.14 and a 1-year high of $33.46. The company has a market cap of $3.95 billion, a P/E ratio of -24.76 and a beta of 0.54.

Perrigo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.29 per share. This is an increase from Perrigo’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Friday, March 7th. Perrigo’s dividend payout ratio (DPR) is presently -92.80%.

Insiders Place Their Bets

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.27, for a total transaction of $497,495.46. Following the completion of the sale, the director now directly owns 5,409 shares in the company, valued at approximately $152,912.43. This trade represents a 76.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Argus downgraded Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Piper Sandler downgraded Perrigo from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $34.00 to $27.00 in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Perrigo has an average rating of “Hold” and a consensus price target of $33.00.

Perrigo Company Profile

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.