user warning: Got error 28 from storage engine query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 502152 ORDER BY v.weight, t.weight, t.name in /var/www/www.fnno.com/htdocs/modules/taxonomy/taxonomy.module on line 617.

Perrigo Earnings Review: 11 Days after Announcement Shares Up 2.7% (PRGO)

Published on Sat, 05/18/2013 - 09:14
By Peter Chu

11 days ago, on May 7th, 2013, Perrigo (NASDAQ:PRGO) reported its earnings. Analysts, on average, expected earnings of $1.44 per share on sales of $935.4 million. The company actually reported EPS of $1.42 on sales of $919.8 million, missing EPS estimates by $0.02 and missing revenue estimates by $15.6 million. Since the company's report, shares of Perrigo have risen from $116.29 to $119.48, representing a gain of 2.7% in the past 11 days.

Potential upside of 6.0% exists for Perrigo, based on a current level of $119.48 and analysts' average consensus price target of $126.64. The stock should find initial support at its 50-day moving average (MA) of $118.44 and further support at its 200-day MA of $112.15.

In the past 52 weeks, shares of Perrigo have traded between a low of $98.25 and a high of $121.33 and closed Thursday at $119.48, which is 22% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

Perrigo Company manufactures store brand over-the-counter pharmaceutical products and also manufactures store brand nutritional products. The Company's customers include major national and regional retail drug, supermarket, and mass merchandise chains such as Albertson's, CVS, and Target, and major wholesalers such as Super Valu and McKesson.

By Peter Chu
pchu@fnno.com