Zacks Research Has Negative Forecast for Perrigo Q3 Earnings

Perrigo Company plc (NYSE:PRGO) – Zacks Research dropped their Q3 2024 earnings per share (EPS) estimates for Perrigo in a note issued to investors on Monday, November 4th. Zacks Research analyst S. Ganoria now forecasts that the company will post earnings of $0.83 per share for the quarter, down from their prior forecast 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.

A number of other research analysts have also recently issued reports on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 target price on shares of Perrigo in a research report on Monday, September 30th. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a report on Thursday. Jefferies Financial Group restated a “hold” rating and set a $30.00 price target (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Finally, Piper Sandler reduced their price target on Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Perrigo Stock Performance

Perrigo stock opened at $26.93 on Wednesday. Perrigo has a 12-month low of $23.89 and a 12-month high of $34.60. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.80. The business’s 50-day moving average price is $26.19 and its two-hundred day moving average price is $27.52. The stock has a market cap of $3.67 billion, a PE ratio of -29.27 and a beta of 0.48.

Perrigo (NYSE:PRGO) last released its 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 6.79% and a negative net margin of 2.81%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis.

Perrigo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be paid a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Friday, November 29th. Perrigo’s dividend payout ratio is currently -119.57%.

Insider Buying and Selling

In related news, EVP Ronald Craig Janish sold 13,000 shares of Perrigo stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the transaction, the executive vice president now directly owns 20,553 shares of the company’s stock, valued at $604,258.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Perrigo 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 value of $244,444.20. Following the transaction, the director now directly owns 6,009 shares of the company’s stock, valued at approximately $164,045.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ronald Craig Janish sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $29.40, for a total value of $382,200.00. Following the completion of the transaction, the executive vice president now directly owns 20,553 shares in the company, valued at approximately $604,258.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,254 shares of company stock valued at $1,411,969 over the last ninety days. 0.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Perrigo

Several hedge funds and other institutional investors have recently modified their holdings of PRGO. Central Pacific Bank Trust Division bought a new stake in Perrigo during the first quarter worth $48,000. Venturi Wealth Management LLC bought a new stake in Perrigo during the third quarter worth $56,000. Beach Investment Counsel Inc. PA bought a new stake in Perrigo during the second quarter worth $72,000. KBC Group NV grew its holdings in Perrigo by 25.1% during the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after buying an additional 905 shares in the last quarter. Finally, Voisard Asset Management Group Inc. grew its holdings in Perrigo by 520.0% during the second quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock worth $119,000 after buying an additional 3,900 shares in the last quarter. Institutional investors own 95.91% of the company’s stock.

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.