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Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model NEW YORK ( TheStreet) -- Watson Pharmaceuticals (NYSE: WPI) hit a new 52-week high Friday as it is currently trading at $85.29, above its previous 52-week high of $84.59 with 1.3 million shares traded as of 2:55 p.m. ET. Average volume has been 1.1 million shares over the past 30 days. Watson has a market cap of $10.57 billion and is part of the health care sector and drugs industry. Shares are up 37.3% year to date as of the close of trading on Thursday. 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 25.7, below the average drugs industry P/E ratio of 67.3 and above the S&P 500 P/E ratio of 17.7.