Perrigo Co. Plc (PRGO)

Over the past six months, Perrigo's stock price has experienced a significant decline, with a 24.29% decrease. Recent events impacting the stock include the Q1 2026 earnings report, where Perrigo reported a first-quarter 2026 loss driven by a substantial $330.8 million non-cash goodwill impairment, though adjusted EPS beat analyst estimates. Perrigo completed the sale of its Dermacosmetics business for approximately €305.6 million in upfront cash, which is expected to be used for debt reduction. The company has faced operational headwinds related to its infant formula business, including a class-action lawsuit, alleged misleading disclosures, and underinvestment in facilities, contributing to securities litigation and lowered financial guidance.

Demand for some of Perrigo's products, particularly cough and cold remedies, exhibits seasonality. The first quarter of 2026 saw reduced cough and cold incidence, which acted as a headwind to core sales. However, the company anticipates sequential improvement in demand, driven by a stabilization in the seasonal incidence of cough and cold. Perrigo expects the cough and cold category to stabilize throughout 2026, with more typical seasonal patterns returning in the second half of the year.

Perrigo Company plc (PRGO) is an American Irish-registered manufacturer specializing in private label over-the-counter (OTC) pharmaceuticals and a global leader in consumer self-care products. The company operates within the healthcare sector, specifically in the drugs and biotechnology industry. Perrigo's business encompasses the acquisition, manufacture, and sale of consumer healthcare products, generic prescription drugs, and active pharmaceutical ingredients (APIs). Perrigo's major products and brands span a wide range of self-care categories, including upper respiratory, nutrition, digestive health, pain and sleep-aids, oral care, healthy lifestyle, skin care, women's health, and vitamins, minerals, and supplements.

Perrigo Company plc is legally headquartered in Dublin, Ireland, primarily for tax purposes, while its operational corporate headquarters are located in Grand Rapids, Michigan, U.S. The company serves markets across North America, Europe, the Middle East, Africa, and Asia-Pacific. Its operations are divided into two main segments: Consumer Self-Care Americas (CSCA), which focuses on the U.S., Canada, and Mexico, and Consumer Self-Care International (CSCI), covering Europe, Australia, and Israel. Approximately 70% of Perrigo's net sales are generated from the U.S. healthcare system.

In the past year, Perrigo's brand reputation has been impacted by significant challenges related to its infant formula business. The company has been under investigation for alleged misconduct, including claims of misleading disclosures and underinvestment in facilities acquired from Nestlé. This has led to securities litigation concerning alleged overstated financial results, increased remediation and production costs, and a reduction in financial guidance tied to the infant formula segment.

Perrigo Co. Plc's ownership is predominantly institutional, with institutional shareholders holding 109.90% of the stock and Perrigo Co. insiders holding 58.86%. Major institutional owners include Price T Rowe Associates Inc /md/, BlackRock, Inc., and Vanguard Group Inc. Among individual owners, Michael J. Jandernoa is the largest shareholder, owning 41.51 million shares, representing 30.00% of the company, followed by Moshe Arkin, holding 22.63 million shares, or 16.35% of the company.