NEW YORK (

TheStreet

) --

Perrigo Company

(Nasdaq:

PRGO

) hit a new 52-week high Tuesday as it is currently trading at $96.18, above its previous 52-week high of $94.61 with 228,906 shares traded as of 10:15 a.m. ET. Average volume has been 656,400 shares over the past 30 days.

Perrigo has a market cap of $8.5 billion and is part of the

health care

sector and

drugs

industry. Shares are up 47.8% year to date as of the close of trading on Monday.

Perrigo Company, through its subsidiaries, develops, manufactures, and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, nutritional products, infant formulas, active pharmaceutical ingredients (API), and pharmaceutical and medical diagnostic products worldwide. The company has a P/E ratio of 25.2, below the average drugs industry P/E ratio of 25.3 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Perrigo as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full

Perrigo Ratings Report

.

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