Meridian Funds, managed by ArrowMark Partners, reported record high equities in the third quarter of 2025. Large tech stocks benefitted from eased tariff rhetoric and AI investments, with a 6.72% return for the quarter. Perrigo Company plc (NYSE:PRGO) saw a one-month return of -34.97% and a market capitalization of $1.837 billion.

Meridian Contrarian Fund disclosed that Perrigo Company plc (NYSE:PRGO) struggled due to previous poor capital allocation, but a new management team is committed to realistic growth. The stock underperformed in the quarter due to sales and margin challenges. Despite this, the fund continues to hold Perrigo in its portfolio.

Perrigo Company plc (NYSE:PRGO) is not among the 30 most popular stocks among hedge funds, with 22 funds holding it at the end of the third quarter. While Perrigo has potential as an investment, certain AI stocks offer more upside with less risk. Consider exploring undervalued AI stocks for significant benefits.

Read more at Yahoo Finance: Should You Hold Your Stake in Perrigo Company, plc (PRGO)?