Why Perrigo Stock Tumbled 16% This Week

Shareholders of consumer-focused healthcare company Perrigo (NYSE: PRGO) had a week to forget, as their stock plummeted by over 16% across the Monday-Friday span. The company delivered lackluster quarterly earnings, which were quickly followed by several price-target cuts from analysts.

Perrigo's second-quarter report was published on Wednesday, and it revealed that both revenue and per-share net earnings missed the average analyst estimates. Compounding that, the latter metric fell by 15% on a year-over-year basis, and the company said adjusted profitability will come in at the low end of its guidance.

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Source Fool.com