SCHEDULE 13G/A: T. Rowe Price Associates Discloses 10.4% Stake in Perrigo Co PLC

T. Rowe Price Associates, Inc. has filed an amended Schedule 13G, reporting a beneficial ownership of 10.4% in Perrigo Co PLC as of May 31, 2025.

Summary

• T. Rowe Price Associates, Inc., an investment adviser based in Maryland, has filed an Amendment No. 2 to Schedule 13G regarding its beneficial ownership in Perrigo Co PLC.
• As of May 31, 2025, T. Rowe Price Associates, Inc. beneficially owns an aggregate of 14,285,541 shares of Perrigo Co PLC's common stock.
• This ownership represents 10.4% of the total outstanding common stock of Perrigo Co PLC.
• T. Rowe Price Associates, Inc. holds sole voting power over 14,232,241 shares and sole dispositive power over 14,285,541 shares.
• No shared voting or dispositive power is reported.
• One specific client, T. ROWE PRICE MID-CAP VALUE FUND, holds 8,128,734 shares, which constitutes 5.9% of the class, and T. Rowe Price Associates, Inc. serves as its investment adviser.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would significantly alter the sentiment towards the company's performance or outlook. It is neutral in tone and content regarding the issuer's operations.

Positives

• The disclosure of a significant institutional stake by T. Rowe Price Associates, Inc. indicates continued investor confidence in Perrigo Co PLC.
• The filing confirms T. Rowe Price's role as a major beneficial owner, providing stability to the shareholder base.

Negatives

• The document does not contain any negative financial or operational information about Perrigo Co PLC; it is solely a beneficial ownership disclosure.

Risks

• The document itself does not detail specific risks related to Perrigo Co PLC's operations or financial health, as it is a beneficial ownership report.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding Perrigo Co PLC's future performance or T. Rowe Price's investment strategy beyond the beneficial ownership disclosure.

Industry Context

This Schedule 13G filing indicates a significant passive investment by a major institutional asset manager, T. Rowe Price Associates, Inc., in Perrigo Co PLC. Such filings are routine disclosures required by the SEC when an entity acquires more than 5% of a company's voting shares, signaling a notable institutional presence in the company's shareholder base. It reflects T. Rowe Price's investment decision within the consumer healthcare or pharmaceutical sector where Perrigo operates.

Comparison to Industry Standards

• Institutional ownership by large asset managers like T. Rowe Price is a common feature across publicly traded companies, particularly those with established market positions like Perrigo Co PLC.
• A 10.4% stake is a substantial holding for a single investment adviser, placing T. Rowe Price among the top institutional shareholders of Perrigo.
• The disclosure of a specific fund (T. ROWE PRICE MID-CAP VALUE FUND) holding over 5% (5.9%) within the overall beneficial ownership is standard practice for transparency in such filings.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's stake, which can be viewed positively as a vote of confidence.
• Company Management: Awareness of a large, passive institutional holder may influence engagement strategies, though the filing explicitly states the shares are not held for control purposes.

Key Dates

Keywords

Perrigo Co PLC, T. Rowe Price Associates, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Investment Adviser, Equity Stake, SEC Filing