2. Perrigo Company plc (NYSE:PRGO)
Price Target Upside: 38.12%
Perrigo Company plc (NYSE:PRGO) is a global leader in over-the-counter health and wellness products, offering a wide range of self-care items like pain relievers, gastrointestinal remedies, and infant formulas. What sets the company apart is its focus on affordable, high-quality OTC alternatives, positioning itself as a leader in the self-care market. This strategy taps into the growing trend of consumer-driven healthcare, where people seek cost-effective solutions for managing their health.
Perrigo Company plc (NYSE:PRGO) offers a range of weight loss and health products to support consumers in achieving their lifestyle goals. Their weight management solutions include clinically proven products, along with Nicotine Replacement Therapy (NRT) like NiQuitin, which can indirectly support weight loss by helping users quit smoking. They also provide nutritional supplements such as the Glucose 15TM Lemon Oral Gel for blood sugar management and various vitamins and minerals to support overall health during weight loss, making it one of the best weight loss drug stocks.
To further assist consumers, Perrigo Company plc (NYSE:PRGO) offers step-by-step weight loss programs, healthcare professional training, and emphasizes affordability and accessibility in its product offerings. Their holistic approach to health includes not just weight loss, but also addressing factors like sleep, stress management, and general nutrition, ensuring a comprehensive approach to improving overall well-being.
In Q3 2024, Perrigo Company plc (NYSE:PRGO)’s net sales decreased by 3.2%, with organic sales down 2.4%. However, the company showed improvement in profitability, with gross margin rising by 160 basis points to 41%, and operating income growing by 21.3%. Earnings per share (EPS) increased by 26.6%. Cost-saving initiatives like Project Energize and the supply chain reinvention program contributed $95 million and $72 million in gross savings, respectively. Despite the sales decline, the company’s strategic shift towards higher-value products and a strong cash position of $1.5 billion, positions the company well for future growth and investments.
