Momentum Stock: Pall Corp.Michael Vodickaupdated Mar 31, 2011TweetAt GET.com we maintain complete editorial integrity on our content & provide transparent & unbiased information. Companies don't pay us to include their products although we receive a compensation when you successfully apply to products from our partners. See how we make money here.At GET.com we maintain complete editorial integrity.Pall Corp. (PLL) continues to pressure its fresh 52-week high on the heels of strong Q2 results from early February that included an impressive 19% earnings surprise. With an average earnings surprise of 17% over the last four quarters and bullish growth projection, this Zacks #1 rank stock has plenty of momentum.Company DescriptionPall Corporation manufactures and sells medical technologies and industrial goods worldwide. The company was founded in 1946 and has a market cap of $6.62 billion.Although PLL has been strong with the market for the last six months, shares got an extra boost on March 10 after the company reported strong Q2 results that came in ahead of expectations.Second-Quarter ResultsRevenue for the period was up 15% from last year to $645 million. Earnings also looked good, coming in at 68 cents, 19% ahead of the Zacks Consensus Estimate, where the company has an average earnings surprise of 17% over the last four quarters.The company's largest segment, Life Sciences saw solid 14% sales growth, driven by a strong showing from BioPharmaceuticals, where sales were up 22%. It Industrial segment, only marginally smaller than Life Sciences, saw sales increase 18% to $311 million.Pall also saw continued gains in margins, with operating margin climbing to 17.8% and gross margin increasing to 51.5%.Financial ProfileThe company also continues to strengthen its already solid balance sheet, with cash and equivalents of $435 million and total debt of $656 million, down $64 million from last year.EstimatesWe saw some decent movement in estimates off the good quarter, with the current year adding 20 cents to $2.83 while the next-year estimate gained 19 cents to $3.18, a bullish 12% growth projection.ValuationBut in spite of the recent gains, the valuation picture is still decent, with a forward P/E of 20X, only a slight premium to its peer average of 19X.12-Month ChartOn the chart, shares have been trending higher for the last 6 months, recently jumping to a new 52-weke high on the good quarter. Look for support from the long-term trend line on any weakness, take a look below.Michael Vodicka is the Momentum Stock Strategist for Zacks.com. He is also the Editor in charge of the Zacks Momentum Trader Service. Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.