Colgate and Forest Labs to Open Near 52-Week Highs

Colgate-Palmolive (NYSE: CL) and Forest Laboratories (NYSE: FRX) reached new 52-week highs of $89.28 and $39.56 per share, respectively, late in Monday's trading session.

Colgate just announced the completion of its purchase of the Sanex personal care brand from Unilever (NYSE: UL). Colgate has a market cap of $43.6 billion and is a leading maker and marketer of toothpaste and other personal and home care products.

The company has a P/E ratio that is lower than the sector average, a dividend yield of 2.4% and a return on equity of 76.5%. Its long-term EPS growth forecast is 8.9%. The share price is up more than 10% year to date, outperforming the personal products industry average, as well as the broader markets.

Forest Labs shares have been on the rise since activist investor Carl Icahn revealed a nearly 7% stake in the company and a desire to shake up the board. The company develops and manufactures name-brand as well as generic prescription and over-the-counter pharmaceutical products. It has a market cap of $11.3 billion.

The return on equity is 15.5% and the price-to-earnings ratio is 8.9. Short interest tumbled in March and is now about 4% of the float. The stock is about 23% higher year to date, outperforming competitors Eli Lilly (NYSE: LLY) and GlaxoSmithKline (NYSE: GSK), as well as the broader markets.