Perrigo (NYSE:PRGO) Updates FY 2022 Earnings Guidance

Perrigo (NYSE:PRGO – Get Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.25-$2.35 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.

Perrigo Price Performance

Perrigo stock opened at $41.86 on Tuesday. The company has a current ratio of 2.61, a quick ratio of 1.55 and a debt-to-equity ratio of 0.84. The firm’s 50-day simple moving average is $40.82 and its 200 day simple moving average is $38.26. Perrigo has a 52 week low of $31.32 and a 52 week high of $50.90.

Perrigo (NYSE:PRGO – Get Rating) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.01). Perrigo had a negative net margin of 2.17% and a positive return on equity of 4.87%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, equities analysts predict that Perrigo will post 2.29 EPS for the current year.

Perrigo Announces Dividend

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The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 20th. Investors of record on Friday, September 2nd will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $1.04 dividend on an annualized basis and a yield of 2.48%. Perrigo’s dividend payout ratio (DPR) is currently -148.57%.

Institutional Investors Weigh In On Perrigo

A number of institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership acquired a new position in shares of Perrigo in the 1st quarter valued at $24,684,000. BlackRock Inc. increased its stake in Perrigo by 4.8% during the first quarter. BlackRock Inc. now owns 12,112,154 shares of the company’s stock worth $465,469,000 after acquiring an additional 554,915 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Perrigo by 17.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,074,409 shares of the company’s stock worth $118,149,000 after purchasing an additional 460,102 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Perrigo by 2,841.8% in the 1st quarter. Renaissance Technologies LLC now owns 444,208 shares of the company’s stock valued at $17,071,000 after purchasing an additional 429,108 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Perrigo by 4.8% during the 1st quarter. State Street Corp now owns 4,270,353 shares of the company’s stock worth $164,110,000 after purchasing an additional 193,783 shares during the period. 91.25% of the stock is currently owned by hedge funds and other institutional investors.

About Perrigo

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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.

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