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Perrigo (NYSE:PRGO) Stock, Chaîne d'Options

Perrigo

Perrigo Company

NASDAQ

Perrigo is one of the largest consumer health companies in the world. Since 2018, Perrigo divested its animal health and generic pharmaceuticals businesses to solely focus on consumer self-care. In North America (two thirds of total sales), the firm's product mix is anchored in private-label consumer health goods, which are sold to major retailers like Walmart, Amazon, Costco, and CVS. Perrigo also plays in Europe, Australia, and parts of Asia where it primarily generates revenue through its national brands, including Compeed, Solpadeine, Coldrex, and ellaOne.

Perrigo Co PLC

WIIM

PRGO

Perrigo shares are trading higher after the company reported better-than-expected Q1 adjusted EPS results.

Perrigo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRGO#NYSE">PRGO</a>) widens FY2025 Adj EPS guidance from $2.90-$3.10 to $2.29-$3.10 vs $2.99 analyst estimate. Widens FY2025 sales outlook from $4.42 billion-$4.50 billion to $4.37 billion-$4.50 billion vs $4.44 billion estimate.

News

Guidance

Perrigo Widens FY2025 Adj EPS Guidance from $2.90-$3.10 to $2.29-$3.10 vs $2.99 Est; Widens FY2025 Sales Guidance from $4.42B-$4.50B to $4.37B-$4.50B vs $4.44B Est

Perrigo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRGO#NYSE">PRGO</a>) reported quarterly earnings of $0.60 per share which beat the analyst consensus estimate of $0.55 by 9.09 percent. This is a 106.9 percent increase over earnings of $0.29 per share from the same period last year. The company reported quarterly sales of $1.04 billion which missed the analyst consensus estimate of $1.09 billion by 3.92 percent. This is a 3.51 percent decrease over sales of $1.08 billion the same period last year.

Earnings

Earnings Beats

Earnings Misses

Perrigo Q1 Adj. EPS $0.60 Beats $0.55 Estimate, Sales $1.04B Miss $1.09B Estimate

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Earnings Scheduled For May 7, 2025

J.P. Morgan says Perrigo Company plc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRGO#NYSE">PRGO</a>) first-quarter 2025 earnings will be dominated by commentary on the potential impact of tariffs. The analyst says, &#8220;Tariffs could potentially have a significant impact on PRGO&#8217;s near-term earnings.&#8221;
Analysts forecast adjusted earnings of 55 cents per share, with <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">sales of $1.09 billion</a>.
Analyst Chris Schott says tariffs could lead the OTC drugs company to a low to mid-single-digit impact on global COGS on an annualized basis, and that the company expects to offset this impact with supply chain efficiencies and price actions.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/02/44049396/perrigo-outlines-2025-growth-plans-projects-sales-boost-and-margin-expansion-by-2027" rel="noreferrer noopener">Perrigo Outlines 2025 Growth Plans, Projects Sales Boost And Margin Expansion By 2027</a>
This mainly affects the oral care business, some of which is sourced from China, and the infant formula business, which uses ingredients from both China and India.
The company originally expected to reduce the impact through supply chain improvements and price increases. However, a few challenges remain:
<ul>
<li><a href="https://www.benzinga.com/topic/tariffs" target="_blank" rel="noreferrer noopener">Tariffs on Chinese products</a> have gone up significantly since April 2.</li>
<li>It&#8217;s still unclear how pharmaceutical tariffs will turn out, and any tariff on ingredients could affect Perrigo.</li>
<li>The company&#8217;s price hikes have usually lagged behind rising costs.</li>
<li>Since PRGO operates with lower profit margins than its peers, it&#8217;s harder for them to absorb these extra costs.</li>
</ul>
Schott says it&#8217;s hard to predict the short-term impact on Perrigo&#8217;s business, since higher costs without raising prices could hurt its earnings. However, the company is expected to pass most of those cost increases on to consumers, so any effect on its earnings beyond 2026 should be small.
&#8220;Net-net, while tariffs will clearly impact near-term earnings (which is obviously less than ideal with PRGO just seeing a rebound in earnings following its 1H24 nutritional headwinds), we anticipate the company to be able to largely offset said impact by 2026,&#8221; Schott writes.
Price Action: PRGO stock is down 4.70% at $24.13 at the last check Monday.
Read Next:
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<li><a href="https://www.benzinga.com/news/25/04/44905908/world-economic-forum-chair-klaus-schwab-resigns-after-55-years-interim-successor-takes-over" target="_blank" rel="noreferrer noopener">World Economic Forum Chair Klaus Schwab Resigns After 55 Years, Interim Successor Takes Over</a></li>
</ul>
Photo: Shutterstock

Analyst Color

Health Care

Analyst Ratings

Movers

Trading Ideas

General

Trump Tariffs Could Have 'Significant Impact' On Perrigo Earnings, Says JP Morgan

Perrigo Company plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRGO#NYSE">PRGO</a>) shares surged on Friday after the company issued financial targets for 2025 and <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/n44038938/perrigo-provides-detailed-plan-to-consumerize-simplify-and-scale-its-unique-global-self-care-platf" rel="noreferrer noopener">2025 to 2027 on its investor day</a>.
For 2025, the company expects:
<ul>
<li>Sales growth of 1% to 3% vs. consensus of $4.79 billion</li>
<li>Organic net sales growth of 2.5% to 4.5%</li>
<li>Adjusted EPS of $2.90 &#8211; $3.10 compared to the street view of $3.36</li>
<li>Adjusted operating margin of around 15%</li>
</ul>
For 2025-2027, Perrigo projects:
<ul>
<li>Organic net sales CAGR of 2.5% &#8211; 4.5%</li>
<li>Adjusted EPS CAGR of high-single to low-double-digit %</li>
<li>Adjusted operating margin expansion of +150 to +250 basis points by 2027</li>
</ul>
Apart from this, the company disclosed that its strategy to enhance cash flow and total shareholder return is centered around its &#8216;Three-S&#8217; plan:
<ul>
<li>&#8216;Stabilizing&#8217; the Consumer Self-Care Americas (CSCA) store brand and infant formula sectors</li>
<li>&#8216;Streamlining&#8217; the global portfolio, operational model, and Consumer Self-Care International (CSCI) business</li>
<li>&#8216;Strengthening&#8217; successful areas by focusing on and boosting investments in key &#8216;High-Grow&#8217; brands</li>
</ul>
On Thursday, the company reported fourth-quarter adjusted EPS of $0.93, slightly missing the $0.94 estimate, while sales of $1.14 billion fell <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/n44028429/perrigo-reports-fourth-quarter-fiscal-year-2024-financial-results-from-continuing-operations" rel="noreferrer noopener">short of the $1.20 billion estimate</a>.
President and CEO,&nbsp;Patrick Lockwood-Taylor&nbsp;said, &#8220;Though 2024 was a challenging year as we had to quickly overcome evolving regulatory dynamics within our infant formula business, we made substantial progress to rewire Perrigo through stabilizing our CSCA businesses, streamlining our operations and strengthening the Company for the long-term.&#8221;
Investors can gain exposure to the stock via SPDR S&amp;P Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPH#NYSE">XPH</a>) and Bahl &amp; Gaynor Small/Mid Cap Income Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMIG#NYSE">SMIG</a>).
Price Action: PRGO shares are up 21.3% at $29.26 at the last check Friday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42638844/large-biopharma-lags-market-jp-morgans-2025-outlook-on-eli-lilly-merck-and-more" target="_blank" rel="noreferrer noopener">Big Biopharma Trails Behind The Market: JP Morgan&#8217;s 2025 Outlook on Eli Lilly, Merck, and More</a></li>
</ul>
Image via Shutterstock.

Equities

Mid Cap

SMIG

Perrigo Outlines 2025 Growth Plans, Projects Sales Boost And Margin Expansion By 2027

Perrigo Company shares are trading higher after the company issued FY25 adjusted EPS guidance above estimates.

Fiscal Years 2025 to 2027 Financial Targets1,&nbsp;(fiscal year 2024 actuals as the baseline):
<ul>
<li>Organic net sales&nbsp;CAGR of 2.5% to 4.5%.</li>
<li>Adjusted gross margin expansion of +200 to +400 basis points by 2027.</li>
<li>Adjusted operating margin expansion of +150 to +250 basis points by 2027.</li>
<li>Adjusted diluted EPS CAGR of high-single to low-double digit percentage.</li>
<li>Operating cash flow conversion to adjusted net income of approximately 100% or more.</li>
<li>Free cash flow as a percentage of net sales of approximately +200 basis points by 2027.</li>
<li>Net leverage of less than 3x adjusted EBITDA in 2027.</li>
</ul>

Perrigo Co Projected FY25-FY27 Organic Net Sales CAGR Of 2.5%-4.5%, Adj EPS CAGR Of High-Single To Low-Double Digit Percentage

Fiscal Year 2025 Financial Targets1&nbsp;(fiscal year 2024 actuals as the baseline):
<ul>
<li>All-in net sales growth of 1% to 3%.</li>
<li>Organic net sales growth of 2.5% to 4.5%.</li>
<li>Adjusted gross margin of approximately 40%.</li>
<li>Adjusted operating margin of approximately 15%.</li>
<li>Adjusted diluted earnings per share ("EPS") range of $2.90 to $3.10, equating to growth of 13% to 21%.</li>
<li>Operating cash flow conversion to adjusted net income of approximately 100%.</li>
<li>Free cash flow as a percentage of net sales of approximately 6%.</li>
<li>Net leverage of approximately 3.5x adjusted EBITDA.&nbsp;</li>
</ul>
Fiscal Years 2025 to 2027 Financial Targets1,&nbsp;(fiscal year 2024 actuals as the baseline):
<ul>
<li>Organic net sales&nbsp;CAGR of 2.5% to 4.5%.</li>
<li>Adjusted gross margin expansion of +200 to +400 basis points by 2027.</li>
<li>Adjusted operating margin expansion of +150 to +250 basis points by 2027.</li>
<li>Adjusted diluted EPS CAGR of high-single to low-double digit percentage.</li>
<li>Operating cash flow conversion to adjusted net income of approximately 100% or more.</li>
<li>Free cash flow as a percentage of net sales of approximately +200 basis points by 2027.</li>
<li>Net leverage of less than 3x adjusted EBITDA in 2027.</li>
</ul>

Perrigo Co Expects FY25 Sales Growth Of 1%-3% Vs $4.79B Est, Adj EPS Of $2.90-$3.10 Vs $3.36 Est

Perrigo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRGO#NYSE">PRGO</a>) reported quarterly earnings of $0.93 per share which missed the analyst consensus estimate of $0.94 by 1.06 percent. This is a 8.14 percent increase over earnings of $0.86 per share from the same period last year. The company reported quarterly sales of $1.14 billion which missed the analyst consensus estimate of $1.20 billion by 4.82 percent. This is a 1.64 percent decrease over sales of $1.16 billion the same period last year.

Perrigo Q4 2024 Adj EPS $0.93 Misses $0.94 Estimate, Sales $1.14B Miss $1.20B Estimate

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Earnings Scheduled For February 27, 2025

Perrigo Company plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRGO#NYSE">PRGO</a>), a leading global provider of Consumer Self-Care Products, today announced that its Board of Directors has approved a 5% increase in the Company's quarterly dividend to $0.290 per share, or $1.16 per share on an annual basis, up from $0.276 per share. This marks the 22nd consecutive year Perrigo has increased its dividend

Dividends

Perrigo Increases Quarterly Dividend From $0.276 To $0.29 Per Share

Piper Sandler analyst Korinne Wolfmeyer downgrades Perrigo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRGO#NYSE">PRGO</a>) from Overweight to Neutral and lowers the price target from $34 to $27.

Downgrades

Price Target

Piper Sandler Downgrades Perrigo to Neutral, Lowers Price Target to $27

According to JP Morgan, U.S. large-cap biopharma stocks have underperformed the broader market for two consecutive years, with mixed sentiment shaping investor outlook for 2025.
Despite strong fundamentals and advancements in drug pipelines, factors such as political uncertainty and sector rotation have hindered the sector's performance relative to the S&amp;P 500.
In 2024, biopharma stocks rose by 9.6%, falling short of the S&amp;P 500's 28.5% surge. However, JP Morgan analysts maintain a positive outlook for several key players.
Eli Lilly And Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), a top pick for the firm, is projected to see continued growth in its diabetes and obesity treatments, <a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41622207/eli-lilly-q3-earnings-mounjaro-sales-more-than-double-takes-2-98-billion-hit-to-profit-cuts-annua" rel="noreferrer noopener">Mounjaro and Zepbound</a>. The analyst also pointed to the company's robust pipeline and forecasted double-digit revenue and earnings growth into the 2030s.
Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) has been added to JP Morgan's Analyst Focus List due to the strong potential of its schizophrenia drug, Cobenfy, which could achieve peak sales of $10 billion.
Similarly, Merck &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) and Regeneron Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) are expected to recover in 2025, following challenges in 2024 related to <a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38208816/eye-drug-eylea-price-manipulation-regeneron-faces-us-justice-department-allegations-over-medicare" rel="noreferrer noopener">competitive pressures </a>and regional dynamics <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40168774/mercks-blockbuster-vaccine-gardasil-sales-in-china-analyst-highlights-challenges-an" rel="noreferrer noopener">affecting key products</a>.
Gilead Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) is poised for growth with the anticipated mid-2025 launch of lenacapavir <a target="_blank" href="https://www.benzinga.com/quote/GILD" rel="noreferrer noopener">for HIV prevention</a>.
The firm also highlighted AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) for its appealing valuation, supported by strong Skyrizi and Rinvoq sales despite fewer near-term <a target="_blank" href="https://www.benzinga.com/quote/ABBV" rel="noreferrer noopener">pipeline developments</a>.
Animal health stocks are also projected to rebound in 2025. JP Morgan views Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>) as the strongest pick in the sector, citing its potential for high single-digit revenue <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41722660/zoetis-q3-earnings-beat-companion-animal-segment-growth-gives-confidence-into-2025-" rel="noreferrer noopener">growth and margin expansion</a>. IDEXX Laboratories, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDXX#NASDAQ">IDXX</a>) is another solid choice, though its performance depends on a r<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41659873/idexx-laboratories-adjusts-guidance-as-q3-revenue-growth-slows-analyst-notes-fewer-" rel="noreferrer noopener">ecovery in veterinary visits</a>. Meanwhile, Elanco Animal Health Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELAN#NYSE">ELAN</a>) faces uncertainties linked to its <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41817807/elanco-animal-q3-earnings-profit-beat-new-products-and-stabilized-business-to-drive" rel="noreferrer noopener">new product launches</a>.
Specialty pharmaceuticals showed early signs of stabilization in 2024, benefiting from improved pricing stability and supply dynamics. Perrigo Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRGO#NYSE">PRGO</a>) and Viatris Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VTRS#NASDAQ">VTRS</a>) are highlighted as promising opportunities, while Teva Pharmaceuticals Industries Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) may face growth challenges despite delivering strong clinical trial <a target="_blank" href="https://www.benzinga.com/general/biotech/24/12/42561832/teva-pharmaceutical-releases-impressive-phase-2-candidate-data-for-gastro-related-diseases" rel="noreferrer noopener">results this year</a>.
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<li><a href="https://www.benzinga.com/24/12/42623487/jp-morgan-defensive-oil-stocks-to-watch-in-2025-amid-70-brent-forecast" target="_blank" rel="noreferrer noopener">Defensive Oil Stocks To Watch In 2025 Amid $70 Brent Forecast: JP Morgan</a></li>
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Photo via Shutterstock

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Big Biopharma Trails Behind The Market: JP Morgan's 2025 Outlook on Eli Lilly, Merck, and More

Perrigo Reaches $98M Settlement With D&O Insurers To Resolve Coverage Dispute Over 2015-2017 Securities Litigation, Reimbursing Legal And Settlement Costs Before Year-End

Perrigo shares are trading higher. The company reported Q3 financial results.

The Company now expects its fiscal 2024 organic net sales and reported net sales outlooks towards the lower end of its previously stated ranges of organic net sales growth versus the prior year of -3% to -1% and reported net sales growth versus the prior year of -5% to -3%.&nbsp;

Perrigo Now Expects FY24 Organic Net Sales And Reported Net Sales Outlooks Towards Lower End Of Its Previously Stated Ranges

Perrigo Reaffirms FY24 Adjusted EPS Outlook Of $2.50 - $2.65, Est $2.57

Perrigo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRGO#NYSE">PRGO</a>) reported quarterly earnings of $0.81 per share which missed the analyst consensus estimate of $0.82 by 1.22 percent. This is a 26.56 percent increase over earnings of $0.64 per share from the same period last year. The company reported quarterly sales of $1.09 billion which missed the analyst consensus estimate of $1.13 billion by 3.29 percent. This is a 3.20 percent decrease over sales of $1.12 billion the same period last year.

Perrigo Q3 2024 Adj EPS $0.81 Misses $0.82 Estimate, Sales $1.09B Miss $1.13B Estimate

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