Sound Income Strategies LLC Boosts Stock Position in Perrigo Company plc $PRGO

Sound Income Strategies LLC lifted its stake in shares of Perrigo Company plc (NYSE:PRGO) by 35.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 717,731 shares of the company’s stock after purchasing an additional 188,767 shares during the quarter. Sound Income Strategies LLC’s holdings in Perrigo were worth $15,467,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in Perrigo by 41.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,073,026 shares of the company’s stock valued at $310,488,000 after purchasing an additional 3,227,487 shares during the period. Millennium Management LLC grew its position in Perrigo by 5,198.0% during the first quarter. Millennium Management LLC now owns 2,052,599 shares of the company’s stock worth $57,555,000 after buying an additional 2,013,856 shares in the last quarter. Norges Bank bought a new position in Perrigo in the 2nd quarter worth about $36,755,000. Perpetual Ltd raised its holdings in shares of Perrigo by 64.2% in the 3rd quarter. Perpetual Ltd now owns 3,149,878 shares of the company’s stock valued at $70,148,000 after acquiring an additional 1,231,400 shares in the last quarter. Finally, Ion Asset Management Ltd. grew its holdings in shares of Perrigo by 34.7% during the second quarter. Ion Asset Management Ltd. now owns 3,817,621 shares of the company’s stock worth $102,007,000 after purchasing an additional 983,727 shares in the last quarter. 95.91% of the stock is currently owned by institutional investors.

Insider Activity

In other Perrigo news, Director Geoffrey M. Parker purchased 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was bought at an average price of $14.18 per share, with a total value of $106,350.00. Following the completion of the purchase, the director directly owned 17,375 shares of the company’s stock, valued at $246,377.50. The trade was a 75.95% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

PRGO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Perrigo from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, December 15th. Canaccord Genuity Group lowered their price objective on shares of Perrigo from $40.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Wall Street Zen downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Perrigo in a research report on Monday, December 15th. Finally, Zacks Research lowered Perrigo from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $22.00.

Perrigo Stock Down 0.5%

Shares of Perrigo stock opened at $13.24 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.44 and a current ratio of 2.51. Perrigo Company plc has a 52-week low of $12.17 and a 52-week high of $30.93. The company’s 50 day moving average price is $16.17 and its 200-day moving average price is $21.71. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -34.85 and a beta of 0.39.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.10 billion. Perrigo had a negative net margin of 1.21% and a positive return on equity of 9.16%. The company’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 EPS. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. Equities research analysts forecast that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Stockholders of record on Friday, November 28th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date was Friday, November 28th. Perrigo’s dividend payout ratio (DPR) is currently -305.26%.

Perrigo Profile

Perrigo Company plc is a global healthcare supplier specializing in over-the-counter (OTC) and self-care products, as well as generic prescription pharmaceuticals and active pharmaceutical ingredients. The company develops, manufactures and distributes a broad array of consumer health products, including analgesics, vitamins and supplements, digestive health remedies, topical treatments, and infant formulas. Perrigo’s focus on private-label solutions has made it a leading partner for retailers and pharmacy chains seeking high-quality, value-oriented alternatives to branded medications and health supplements.

Organized across three principal business segments—Consumer Healthcare, Prescription Pharmaceuticals and Active Pharmaceutical Ingredients—Perrigo’s operations span research and development, manufacturing, quality assurance and global distribution.