Perrigo Company - Targeted Recommendations
Source: http://www.zacks.com/Posted on Thursday, September 18th, 2008 | In Stocks to Watch
Perrigo Company (PRGO) is the nation’s largest manufacturer of store brand over-the-counter (non-prescription) pharmaceutical products, and it manufactures store brand nutritional products.
Perrigo enjoyed strong upward momentum this week, ascending 7.33% Thursday after Wednesday’s 2.93% gain and a 3.60% increase on Tuesday. The company was the subject of an analyst upgrade a few days ago.
Prior to the upgrade, PRGO announced that it acquired drug and nutritional products maker JB Laboratories for about $44 million in cash. The company mentioned that the acquisition is expected to add more than $70 million of annual sales.
Perrigo announced record fiscal fourth-quarter results in mid-August. The company’s profit increased by 46% thanks to the hike seen in demand for its consumer health care products.
Record net sales of $500.2 million jumped 34% year-over-year, while net income of $27.5 million climbed from last year’s $18.8 million.
Management noted that this was the third consecutive quarter of year-over year-record sales and earnings, adding that the company also generated $248 million in cash from operations for the year.
Perrigo’s Chairman and CEO Joseph C. Papa said, our team is executing well — growing market share, managing our supply chain and delivering strong returns. And by bringing innovative new products to market, we continue to make quality healthcare more affordable at a time when consumers need to save money more than ever. We continue to invest in research and development, building our pipeline for future innovation as well.”
The company’s earnings outlook for the full fiscal year 2009 stands at $1.90 to $1.98 per share. Wall Street hiked the fiscal year projection on strong quarterly results. Current forecasts of $1.92 per share are above last month’s $1.91.
| Company | Ticker | One-Week Return Perrigo Company |
PRGO |
11.79%
| Psychiatric Sol |
PSYS |
4.51%
| Columbus Mckinn |
CMCO |
2.69%
| Kansas City Sou |
KSU |
1.91%
| Mcdonalds Corp |
MCD |
-0.16%
|
|
“PRGO” Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research
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consumer health care products, JB Laboratories, Joseph C. Papa, Kansas City, McDonald's Corp., nutritional products maker, Perrigo Company, Pharmaceutical Products, quality healthcare, Stocks to Watch, store brand nutritional products, Supply Chain, Targeted Recommendations Perrigo Company, USD, wall street
 About Alex Kolb (http://www.zacks.com/)
Alex Kolb is an Editor at Zacks Investment Research. |
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