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Prestige Brands Bullish Outlook Strengthened With Huge Third Quarter

Back in April, I recommended buying shares of Prestige Brands Holdings (PBH) after its acquisition of Insight Pharmaceuticals. This recommendation came on the heels of a large price move and the stock moving close to 52 week highs. Shares have slowly climbed since that time and broke new all time highs on Thursday after a blow out quarter. Listed below is details on why the quarter was so good and why investors should consider once again getting behind this great over the counter pharmaceutical powerhouse.

In the third quarter, Prestige Brands saw revenue grow 36.4% to $197.6 million. Earnings per share came in at an impressive $0.48. Along with being a nice increase from the prior year, both revenue and earnings beat analysts' estimates ($0.40, $189.9 million). Most of the growth came from the acquisition of Insight Pharmaceuticals, but Prestige also had organic growth of 2.1%, or 2.9% excluding… Read More …