Norges Bank Takes $42.61 Million Position in Perrigo Company plc $PRGO

Norges Bank acquired a new stake in shares of Perrigo Company plc (NYSE:PRGO) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,060,846 shares of the company’s stock, valued at approximately $42,607,000.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Perrigo by 7.9% during the fourth quarter. Vanguard Group Inc. now owns 14,983,369 shares of the company’s stock worth $208,568,000 after acquiring an additional 1,101,154 shares during the last quarter. Ion Asset Management Ltd. increased its position 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 acquiring an additional 983,727 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Perrigo by 38.0% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,481,711 shares of the company’s stock worth $34,545,000 after acquiring an additional 683,965 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Perrigo by 126.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,159,768 shares of the company’s stock worth $32,520,000 after acquiring an additional 647,982 shares during the last quarter. Finally, State Street Corp increased its position in shares of Perrigo by 9.5% during the second quarter. State Street Corp now owns 7,340,323 shares of the company’s stock worth $196,134,000 after acquiring an additional 637,678 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Canaccord Genuity Group dropped their target price on Perrigo from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Weiss Ratings lowered shares of Perrigo from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 28th. Zacks Research upgraded shares of Perrigo from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Perrigo in a research note on Thursday, February 26th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.33.

Perrigo Stock Up 7.1%

PRGO stock opened at $11.60 on Tuesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.72 and a quick ratio of 1.59. Perrigo Company plc has a 1-year low of $9.23 and a 1-year high of $28.43. The firm has a fifty day moving average price of $11.12 and a two-hundred day moving average price of $12.49. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -0.89, a PEG ratio of 1.28 and a beta of 0.51.

Perrigo (NYSE:PRGO) last released its earnings results on Wednesday, May 6th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. Perrigo had a negative net margin of 43.50% and a positive return on equity of 9.96%. The firm had revenue of $841.80 million during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. Research analysts predict that Perrigo Company plc will post 2.12 EPS for the current year.

Perrigo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.16 annualized dividend and a dividend yield of 10.0%. Perrigo’s dividend payout ratio is -8.85%.

Perrigo Company 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.