PRGO - Perrigo Company: The Future Is Unlike The Recent Past

2024-07-30 10:30:00 ET

Summary

• Over the past several years, Perrigo experienced significant management missteps and regulatory changes.
• Investors have seen nothing but a downward trending business and stock price.
• Undemanding multiple and growth acceleration, have us encouraged that the future is unlike the recent past.
• We anticipate mid-single-digit EPS growth beyond 2025, coupled with reduced leverage.

The following segment was excerpted from this fund letter.

Perrigo ( PRGO ) offers over-the-counter ('OTC') self-care and wellness solutions in the U.S. and internationally. In the U.S., the company primarily focuses on store brand products, whereas Perrigo markets its own brand internationally. The Consumer Self-Care Americas (U.S. business) represents ~2/3 of sales, with most revenue generated through store-branded products at retailers including Target ( TGT ), Walmart ( WMT ), and CVS ....

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