Perrigo (PRGO) reported second-quarter 2026 net sales of $1.0228 billion, down 3.2% from $1.0563 billion a year earlier. Net income was $74.5 million, compared with a net loss of $8.4 million in the prior-year period, and diluted earnings per share were $0.53.
The company said it completed the Dermacosmetics divestiture, continued strategic reviews of its Infant Formula and Oral Care businesses, and reaffirmed its full-year 2026 outlook. Management cited market share gains in U.S. store-brand OTC and key European brands, along with ongoing category softness and macroeconomic headwinds.
- Second-quarter reported diluted EPS from continuing operations was $0.63, compared with $0.00 a year earlier.
- Core net sales were $907 million, down 3.1% year over year, while Core organic net sales declined 3.5%.
- All In reported net sales declined 3.2% year over year to $1.02 billion.
- Infant Formula net sales increased 23.1%, primarily driven by timing of contract shipments and higher store-brand formula sales.
- Cash and cash equivalents were $400 million as of June 27, 2026, while total debt was $3.3 billion.
- Perrigo reaffirmed its 2026 outlook, including All In adjusted EPS of $2.00 to $2.30.
$PRGO Hedge Fund Activity
We have seen 172 institutional investors add shares of $PRGO stock to their portfolio, and 164 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- PRICE T ROWE ASSOCIATES INC /MD/ removed 4,197,451 shares (-23.9%) from their portfolio in Q1 2026, for an estimated $43,065,847
- NEUBERGER BERMAN GROUP LLC added 2,924,771 shares (+38.8%) to their portfolio in Q1 2026, for an estimated $30,008,150
- MILLENNIUM MANAGEMENT LLC added 2,158,021 shares (+101.7%) to their portfolio in Q1 2026, for an estimated $22,141,295
- BAHL & GAYNOR INC removed 1,883,452 shares (-99.1%) from their portfolio in Q1 2026, for an estimated $19,324,217
- ION FUND MANAGEMENT LTD removed 1,760,000 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $18,057,600
- LPL FINANCIAL LLC added 1,287,874 shares (+3005.1%) to their portfolio in Q1 2026, for an estimated $13,213,587
- PRUDENTIAL FINANCIAL INC removed 1,280,321 shares (-86.8%) from their portfolio in Q1 2026, for an estimated $13,136,093
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
