Perrigo (NYSE:PRGO) Issues FY 2022 Earnings Guidance

Perrigo (NYSE:PRGOGet Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.30-$2.40 for the period. The company issued revenue guidance of $4.49 billion-$4.53 billion, compared to the consensus revenue estimate of $4.49 billion.

Separately, StockNews.com started coverage on Perrigo in a research note on Thursday, March 31st. They set a hold rating on the stock.

Shares of PRGO opened at $32.32 on Wednesday. Perrigo has a 1-year low of $31.32 and a 1-year high of $50.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.43 and a quick ratio of 1.79. The company’s 50-day moving average is $36.16. The company has a market cap of $4.35 billion, a price-to-earnings ratio of -92.34 and a beta of 1.02.

Perrigo (NYSE:PRGOGet Rating) last issued its quarterly earnings data on Tuesday, March 1st. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. Perrigo had a negative net margin of 1.12% and a positive return on equity of 5.19%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the business posted $0.93 earnings per share. Perrigo’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts expect that Perrigo will post 2.46 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 21st. Investors of record on Friday, June 3rd will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $1.04 annualized dividend and a dividend yield of 3.22%. Perrigo’s dividend payout ratio is presently -297.14%.

In other news, EVP Thomas Farrington sold 24,485 shares of Perrigo stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $37.13, for a total transaction of $909,128.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ronald Craig Janish sold 3,954 shares of the company’s stock in a transaction that occurred on Monday, March 7th. The stock was sold at an average price of $36.73, for a total value of $145,230.42. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Perrigo by 4.0% during the fourth quarter. BlackRock Inc. now owns 11,557,239 shares of the company’s stock valued at $449,576,000 after buying an additional 446,391 shares during the last quarter. Morgan Stanley boosted its stake in Perrigo by 68.1% during the 2nd quarter. Morgan Stanley now owns 759,459 shares of the company’s stock valued at $34,822,000 after purchasing an additional 307,689 shares during the last quarter. State of Tennessee Treasury Department increased its holdings in shares of Perrigo by 166.7% in the 4th quarter. State of Tennessee Treasury Department now owns 80,000 shares of the company’s stock worth $3,112,000 after purchasing an additional 50,000 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Perrigo in the fourth quarter worth $587,000. Finally, Legal & General Group Plc raised its stake in shares of Perrigo by 4.3% in the fourth quarter. Legal & General Group Plc now owns 366,100 shares of the company’s stock worth $14,242,000 after purchasing an additional 15,027 shares during the last quarter. 91.25% of the stock is owned by hedge funds and other institutional investors.

About Perrigo (Get Rating)

Perrigo Company plc provides over-the-counter (OTC) health and wellness solutions that enhance individual well-being by empowering consumers to prevent or treat conditions that can be self-managed. The company operates through two segments, Consumer Self-Care Americas and Consumer Self-Care International.

Further Reading

Earnings History and Estimates for Perrigo (NYSE:PRGO)

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