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Perrigo Sees IBD RS Rating Improve To 73

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Perrigo ( PRGO ) had its Relative Strength ( RS ) Rating upgraded from 68 to 73 Wednesday -- a welcome improvement, but still below the 80 or higher score you prefer to see.

[ibd-display-video id=449433 width=50 float=left autostart=true] This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.

History shows that the market's biggest winners tend to have an 80 or higher RS Rating as they begin their largest price moves. See if Perrigo can continue to rebound and clear that threshold.

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Perrigo is now considered extended and out of buy range after clearing a 77.84 buy point in a first-stage flat base . See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.

Although earnings and sales growth came in at -5% and -8%, respectively, in the latest report, that means earnings have have shown improvement for two straight quarters and sales have increased for one. The company is expected to report its next quarterly numbers on or around Nov. 10.

The company holds the No. 6 rank among its peers in the Medical-Generic Drugs industry group. ANI Pharmaceuticals ( ANIP ), Mylan ( MYL ) and Akorn ( AKRX ) are among the top 5 highly rated stocks within the group.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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