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PRGO · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is PERRIGO COMPANY PLC (PRGO) stock moving?
Perrigo's Q3 2026 results beat consensus on both adjusted EPS ($0.60 vs $0.50) and sales ($989M vs $987.2M), but adjusted EPS still fell 25% year over year and reported operating margin dropped to 2.3% from 7.0%. Management narrowed FY2026 adjusted EPS guidance to $2.25-$2.45, above the $2.18 estimate, while cutting the sales range to $4.011B-$4.057B, citing the infant formula divestiture, cautious retailer inventory ahead of cough and cold season, and softness in Europe. The up-to-$175M infant formula sale to MeridianMade is expected to improve margins, reduce capex and support deleveraging, and the strategic review of Oral Care is still open. Canaccord kept its Buy rating and raised its target to $19, and the $0.29 quarterly dividend keeps the yield near 7.3%. Price action agrees with a constructive tone in the short run: the stock closed at $16.83 on Nov 10, up about 6% from $15.85 on Nov 6, after a 6.9% jump on Nov 9 to $16.95 on 2.9M shares. The Nov 4 earnings session showed heavy volume (4.97M) but faded from an intraday high of $16.81 to a close of $15.83. The 30-day range has been roughly $15.1 to $17.0, so the recent rally has only just reached the top of that band. No news item in the set explains the Nov 9 move.
News behind the analysis
- Wall Street's Most Accurate Analysts Spotlight On 3 Health Care Stocks Delivering High-Dividend YieldsBenzinga lists PRGO among healthcare dividend stocks with a 7.32% yield, alongside recent analyst ratings and company news.
- Perrigo Q3 2026 Earnings Call TranscriptPerrigo reported Q3 2026 results on Nov 4, and the earnings call transcript was published by Benzinga.
- Perrigo Reports Third Quarter 2026 Financial ResultsNet sales were $989 million, with reported operating margin of 2.3% and Core adjusted operating margin of 14.3%. Management cited market share gains in U.S. store brand OTC and key European brands.
- Perrigo Narrows FY2026 Adj EPS Guidance from $2.25-$2.55 to $2.25-$2.45 vs $2.18 Est; Lowers FY2026 Sales Guidance from $4.019B-$4.189B to $4.011B-$4.057B vs $4.054B EstPerrigo narrowed its FY2026 adjusted EPS guidance to $2.25-$2.45, above the $2.18 estimate, and lowered its sales guidance to $4.011B-$4.057B, slightly below the $4.054B estimate.
- Perrigo Q3 Adj. EPS $0.60 Beats $0.50 Estimate, Sales $989.000M Beat $987.200M EstimateQ3 adjusted EPS of $0.60 and sales of $989M both beat consensus estimates, though adjusted EPS fell 25% from a year earlier.
- Perrigo Company plc Named to Dividend Channel's S.A.F.E. 25 ListPerrigo was included in the Dividend Channel S.A.F.E. 25 list, which screens companies on dividend metrics.
- Canaccord Genuity Maintains Buy on Perrigo, Raises Price Target to $19Canaccord Genuity kept its Buy rating on Perrigo and raised its price target to $19.
- Perrigo Declares Quarterly Cash DividendPerrigo's Board approved a quarterly cash dividend of $0.29 per share.
- Perrigo Announces Agreement to Divest Infant Formula Business to MeridianMadePerrigo agreed to sell its infant formula business to MeridianMade for total consideration of up to $175 million.
About PERRIGO COMPANY PLC
Perrigo is a Dublin-based maker of over-the-counter health products. It is one of the biggest suppliers of store-brand (private-label) medicines in the US, and it also owns branded consumer health products in Europe. The company is now focusing on its 'CORE' self-care business and has been divesting its infant formula business.
How it makes money
Perrigo makes and sells over-the-counter products in categories such as cough, cold and allergy, digestive health, pain relief, nicotine replacement, skin care and women's health. Most of its sales come from two places. In the Americas, it makes store-brand products for retailers like big pharmacy and grocery chains. In Europe and other international markets, it sells its own brands (for example Compeed, Nicotinell and NiQuitin). Until recently it also made store-brand infant formula, but it has been divesting that business.
What usually moves PRGO
- Retailer ordering and inventory levels
- Strength of the cough, cold and allergy season
- Price gap between store brands and name brands
- Progress on divestitures, cost cuts and paying down debt
- Demand in Europe and currency moves