Perrigo Company plc ($PRGO) Stock Forecast: Up 6.7% Today

What is Perrigo Company plc?

Perrigo (PRGO) operates in the pharmaceutical industry, specializing in over-the-counter and generic prescription medicines. The company's business is divided into Consumer Self-Care Americas, Consumer Self-Care International, and Prescription Pharmaceuticals segments.

Why is Perrigo Company plc going up?

PRGO stock is up 6.7% on Nov 6, 2024 19:26

• Perrigo's Q3 earnings and revenues fell short of estimates, but the stock showed significant upward momentum.
• Factors such as potential cost reductions, new product advancements, and strategic partnerships may have pleasantly surprised investors.
• There is a possibility that the market is expecting a turnaround in the company's performance in the coming quarters due to optimistic growth prospects and upcoming catalysts.
• Investors could be focusing on Perrigo's long-term potential rather than short-term results, fueling the bullish movement in the market.

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PRGO Technical Analysis

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Perrigo ( PRGO ) Q3 Earnings and Revenues Lag Estimates

Perrigo (PRGO) delivered earnings and revenue surprises of -1.22% and 2.43%, respectively, for the quarter ended September 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2364931/perrigo-prgo-q3-earnings-and-revenues-lag-estimates

Perrigo to Report Q3 Earnings: Here's What to Expect

PRGO's Q3 top line is expected to have been affected by lower net product sales in the United States and unfavorable currency movements in the quarter.

https://www.zacks.com/stock/news/2363039/perrigo-to-report-q3-earnings-heres-what-to-expect

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Perrigo Company plc Price History

06.10.2024 - PRGO Stock was up 6.7%

• Perrigo's Q3 earnings and revenues fell short of estimates, but the stock showed significant upward momentum.
• Factors such as potential cost reductions, new product advancements, and strategic partnerships may have pleasantly surprised investors.
• There is a possibility that the market is expecting a turnaround in the company's performance in the coming quarters due to optimistic growth prospects and upcoming catalysts.
• Investors could be focusing on Perrigo's long-term potential rather than short-term results, fueling the bullish movement in the market.

27.01.2024 - PRGO Stock was down 14.4%

• Reporting record net sales for both Q4 and FY 2023 and initiating an efficiency program.
• Introducing Project Energize to enhance efficiency and reduce expenses, including a 6% reduction in jobs.
• Providing a lower-than-expected guidance for FY24, resulting in a decline in stock performance.
• Posting disappointing Q4 earnings with a loss of $32.3 million, a decline from -$23.6 million in the previous year, impacting PRGO shares negatively.

15.10.2023 - PRGO Stock was up 5.3%

• Perrigo's bold turnaround plan and focus on the consumer self-care market have likely contributed to the bullish movement in its stock.
• The growing trend of investing in well-being products has also played a role in boosting investor confidence in Perrigo.
• The positive assessment of PRGO stock as a buy in the article further supports the notion that the company's strategic direction is resonating with investors.

08.10.2023 - PRGO Stock was up 6.0%

• Despite reporting lower-than-expected sales, Perrigo's stock had a strong bullish movement.
• The market may have reacted positively to the double-digit growth in gross profit, operating income, and EPS reported in Q3.
• The stock's bullish movement could also be attributed to the fact that the company's earnings call did not reveal any major negative surprises.
• Investors may have been encouraged by the company's acquisition of the Gateway infant formula facility and the U.S. and Canadian Good Start infant formula brand.

27.01.2024 - PRGO Stock was down 14.5%

• The launch of Project Energize aimed to enhance efficiency and reduce costs, which was received positively by investors.
• Despite recording record net sales in Q4 and FY 2023, the company decided to implement a major workforce reduction as part of an efficiency program.
• Perrigo's guidance for FY24 was below expectations, raising concerns about future performance.
• Despite exceeding earnings and revenue estimates, market sentiment may have been impacted by the cautious outlook for the upcoming fiscal year.

27.01.2024 - PRGO Stock was down 15.2%

• Fourth-quarter 2023 net sales were slightly below expectations.
• Despite beating earnings in Q4, the stock price dropped 10% due to sales lagging estimates and a less favorable financial outlook for 2024.
• The introduction of Project Energize, aimed at boosting efficiency and reducing costs, did not calm investor concerns.
• The bearish trend in Perrigo's stock price can be attributed to disappointing financial results, lower sales, and cost-cutting initiatives.

06.02.2024 - PRGO Stock was up 5.3%

• The bullish movement in PRGO stock is likely due to the company's positive step in shipping Opill to retailers nationwide, which is a significant development in the reproductive health market.
• The competitive pricing of Opill at $19.99 for a one-month supply and $49.99 for a three-month supply, along with its online availability, is thought to have contributed to investor optimism.
• The insider buying activity by EVP & CHRO Robert Willis, who acquired a substantial number of shares, could have also boosted confidence in the company's future.
• The innovative launch of Opill, its strategic pricing, and the positive market sentiment towards Perrigo's reproductive health advancements are believed to be the main factors behind the stock's bullish movement.

07.02.2024 - PRGO Stock was up 5.3%

• PRGO shares saw a notable increase in value following the announcement of the rollout of Opill, the first over-the-counter birth control pill, to various retailers.
• The affordability and effectiveness of Opill, endorsed by the FDA, likely drove positive investor sentiment.
• The retirement of Erica L. Mann, a key board member, may have further boosted market confidence in the company's stability and leadership.
• PRGO managed to attract investor interest despite prevailing labor market challenges, showcasing the impact of its new product launch and strategic moves on market dynamics.

08.02.2024 - PRGO Stock was up 6.2%

• The retirement of Erica L. Mann, a distinguished independent director, from Perrigo's board may have been viewed positively by investors, signaling potential positive changes within the company.
• The announcement of Perrigo starting shipments of the first over-the-counter birth control pill could have boosted investor confidence in the company's product pipeline and revenue potential.
• The news about the smoking cessation market expected to reach a significant value by 2030 might have created a positive outlook for Perrigo, especially if they have a strong presence in this market segment.
• Despite the challenging job market with numerous layoff announcements, Perrigo's innovative product offerings and market expansion seem to have driven investor optimism, leading to the bullish movement in the stock price.

07.04.2024 - PRGO Stock was down 7.0%

• Perrigo beat earnings per share (EPS) estimates but missed revenue expectations for Q1 2024, indicating a mixed performance.
• The reaffirmation of the company's fiscal 2024 outlook for sales growth might not have been strong enough to offset concerns about revenue miss.
• The executive transition in the Consumer Self-Care International business could have raised uncertainties among investors about the company's future leadership and strategic direction.
• The market reaction to the earnings report and executive transition news likely contributed to the bearish movement in PRGO stock today.

07.04.2024 - PRGO Stock was down 6.1%

• Perrigo reaffirmed its fiscal 2024 outlook with modest growth projections that did not meet investor expectations, leading to a negative sentiment.
• Despite reporting improved earnings in Q1 compared to the previous year, the market may have been expecting more substantial growth figures.
• The announcement of an executive transition in the Consumer Self-Care International business could have raised concerns about potential disruptions or changes in strategic direction, impacting investor confidence.
• The retirement of an executive like Svend Andersen might have added to the uncertainty surrounding the company's future leadership and operational stability, contributing to the bearish market movement.

02.07.2024 - PRGO Stock was down 4.5%

• In the second quarter of 2024, Perrigo (PRGO) delivered a mixed performance. While the company surpassed earnings per share (EPS) estimates, it fell short of revenue expectations. This discrepancy in financial results likely influenced the bearish trend in the stock price.
• Perrigo adjusted its total net sales predictions for the year downwards. This revision was mainly driven by reduced distribution projections in the U.S. store brand segment for the latter part of 2024. The lowered sales forecast might have had a negative impact on investor confidence.
• Despite outperforming EPS estimates, Perrigo saw a cut in its total net sales growth forecast. This alteration in sales expectations raised concerns about the company's future revenue prospects, potentially amplifying the negative market sentiment surrounding the stock.
• The significant decrease in earnings compared to the corresponding period last year, as outlined in the Q2 earnings overview, likely played a role in the overall adverse stock movement of Perrigo (PRGO).