Sound Income Strategies LLC Buys 188,767 Shares of Perrigo Company plc $PRGO

Sound Income Strategies LLC grew 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 disclosure with the SEC. The fund owned 717,731 shares of the company’s stock after buying an additional 188,767 shares during the quarter. Sound Income Strategies LLC owned approximately 0.52% of Perrigo worth $15,467,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PRGO. Access Investment Management LLC acquired a new position in shares of Perrigo in the second quarter valued at approximately $8,931,000. TD Asset Management Inc acquired a new stake in Perrigo during the 2nd quarter worth approximately $965,000. Vise Technologies Inc. acquired a new position in Perrigo in the 2nd quarter valued at approximately $803,000. Royal Bank of Canada grew its stake in shares of Perrigo by 21.5% in the first quarter. Royal Bank of Canada now owns 414,232 shares of the company’s stock worth $11,615,000 after purchasing an additional 73,264 shares during the last quarter. Finally, First Citizens Bank & Trust Co. bought a new stake in shares of Perrigo in the 2nd quarter valued at about $442,000. Institutional investors and hedge funds own 95.91% of the company’s stock.

Insider Buying and Selling

In related news, Director Geoffrey M. Parker acquired 7,500 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were acquired at an average cost of $14.18 per share, for a total transaction of $106,350.00. Following the purchase, the director owned 17,375 shares in the company, valued at approximately $246,377.50. The trade was a 75.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

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

Perrigo Stock Down 0.5%

Shares of NYSE:PRGO opened at $13.24 on Friday. The firm has a market cap of $1.82 billion, a P/E ratio of -34.85 and a beta of 0.39. Perrigo Company plc has a 52-week low of $12.17 and a 52-week high of $30.93. The business’s 50 day simple moving average is $16.17 and its two-hundred day simple moving average is $21.71. 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 (NYSE:PRGO) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.05. Perrigo had a negative net margin of 1.21% and a positive return on equity of 9.16%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company posted $0.81 earnings per share. The business’s revenue was down 4.1% on a year-over-year basis. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. As a group, research analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 16th. Investors of record on Friday, November 28th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, November 28th. This represents a $1.16 annualized dividend and a yield of 8.8%. Perrigo’s dividend payout ratio is -305.26%.

About Perrigo

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.