Here's Why Perrigo Company Rose as Much as 20.5% Today

Here's Why Perrigo Company Rose as Much as 20.5% Today

Shares of Perrigo Company (NYSE: PRGO) rose over 20% this morning after the healthcare leader released second-quarter 2017 financial results and adjusted full-year 2017 guidance. While revenue slipped 8% from the year-ago period, that was mostly caused by its divesting from unprofitable businesses late last year. Adjusted for those divestitures, sales increased year over year.

Growth in the top line is great, but Wall Street is swooning over improved operational efficiency. Profitability, or the promise that it's within sight after a painful recalibration of the company, is the main driving force for the stock today. As of 11:49 a.m. EDT, the stock had settled to an 18.9% gain. 

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Source: Fool.com