I have written bullish articles on Perrigo Company (NYSE:PRGO) in the past and Perrigo's Q4 earnings today did not let me down (Perrigo's fiscal year ends in June). Perrigo was the largest gainer in the S&P 500 (it went up by 7.3%). Perrigo had missed expectations in Q3 due to a weak flu season and a delayed flea/tick season. The market went crazy and had sold Perrigo all the way from $143 to $126 in the wake of Perrigo's Q3 earnings report.
The CHC (Consumer Healthcare) business segment that houses the flu and animal products had reported flat YoY revenue growth in Q3. But in Q4 Perrigo reported YoY revenue growth of 8% in CHC. Most doctors use store brand according to Perrigo - so Perrigo has science on its side. It was wrong for the market to doubt the strength of Perrigo's CHC segment.