NEW YORK ( TheStreet) -- Watson Pharmaceuticals (NYSE: WPI) is trading at unusually high volume Wednesday with 7.4 million shares changing hands. It is currently at four times its average daily volume and trading up $5.20 (+8.9%) at $63.73 as of 2:45 p.m. ET. Watson has a market cap of $7.11 billion and is part of the health care sector and drugs industry. Shares are down 2.6% year to date as of the close of trading on Tuesday. Watson Pharmaceuticals, Inc., a specialty pharmaceutical company, engages in the development, manufacture, marketing, sale, and distribution of generic and brand pharmaceutical products in the United States, western Europe, Canada, Australasia, Asia, South America, and South Africa. The company has a P/E ratio of 28.5, below the average drugs industry P/E ratio of 38.3 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Watson as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Watson Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are rising on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVUP to 95370 or select from multiple alert options.