State of Alaska Department of Revenue Grows Stock Position in Perrigo Company plc $PRGO

State of Alaska Department of Revenue raised its holdings in Perrigo Company plc (NYSE:PRGO) by 695.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,855 shares of the company’s stock after buying an additional 107,416 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.09% of Perrigo worth $2,735,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PRGO. State Street Corp raised its holdings in shares of Perrigo by 9.5% in the 2nd quarter. State Street Corp now owns 7,340,323 shares of the company’s stock worth $196,134,000 after purchasing an additional 637,678 shares during the period. Ion Asset Management Ltd. raised its holdings in Perrigo by 34.7% in the second quarter. Ion Asset Management Ltd. now owns 3,817,621 shares of the company’s stock valued at $102,007,000 after buying an additional 983,727 shares during the period. Perpetual Ltd lifted its position in Perrigo by 64.2% during the third quarter. Perpetual Ltd now owns 3,149,878 shares of the company’s stock valued at $70,148,000 after buying an additional 1,231,400 shares in the last quarter. BW Gestao de Investimentos Ltda. grew its stake in Perrigo by 13.2% during the second quarter. BW Gestao de Investimentos Ltda. now owns 1,469,524 shares of the company’s stock worth $39,266,000 after buying an additional 171,080 shares during the period. Finally, Edmond DE Rothschild Holding S.A. increased its position in shares of Perrigo by 9.9% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 1,441,428 shares of the company’s stock worth $38,515,000 after acquiring an additional 129,908 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Insider Activity

In other news, Director Geoffrey M. Parker bought 7,500 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was purchased at an average price of $14.18 per share, for a total transaction of $106,350.00. Following the transaction, the director owned 17,375 shares in the company, valued at approximately $246,377.50. This trade represents a 75.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.40% of the company’s stock.

Perrigo Stock Up 0.7%

Shares of NYSE:PRGO opened at $15.05 on Wednesday. The company’s fifty day moving average is $13.75 and its two-hundred day moving average is $20.20. 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 1-year low of $12.17 and a 1-year high of $30.93. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -39.61 and a beta of 0.40.

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 analyst estimates of $1.10 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. Perrigo’s quarterly revenue was down 4.1% on a year-over-year basis. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. Equities analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Investors of record on Friday, November 28th were given a dividend of $0.29 per share. The ex-dividend date was Friday, November 28th. This represents a $1.16 dividend on an annualized basis and a yield of 7.7%. Perrigo’s payout ratio is currently -305.26%.

Wall Street Analysts Forecast Growth

PRGO has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price target on shares of Perrigo from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, December 15th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Perrigo in a research note on Monday, December 22nd. Zacks Research downgraded shares of Perrigo from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Jefferies Financial Group lowered their price target on shares of Perrigo from $27.00 to $23.00 and set a “hold” rating for the company in a report on Monday, October 27th. Finally, Canaccord Genuity Group lowered their target price on Perrigo from $40.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $20.33.

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.