Perrigo (NYSE:PRGO) Announces Quarterly Earnings Results

Perrigo (NYSE:PRGO) issued its quarterly earnings data on Thursday. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01, Zacks reports. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%.

Perrigo Stock Performance

PRGO opened at $24.09 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 company’s fifty day moving average price is $24.87 and its two-hundred day moving average price is $26.18. Perrigo has a 1-year low of $23.14 and a 1-year high of $33.46. The company has a market cap of $3.29 billion, a price-to-earnings ratio of -20.59 and a beta of 0.54.

Perrigo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date is Friday, March 7th. This is an increase from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s payout ratio is presently -99.15%.

Insider Transactions at Perrigo

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the completion of the transaction, the director now owns 5,409 shares in the company, valued at $152,912.43. This trade represents a 76.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Argus cut shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Piper Sandler cut shares of Perrigo from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $34.00 to $27.00 in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $35.00.

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.