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) -- Perrigo Company (Nasdaq: PRGO) is trading at unusually high volume Friday with 1.5 million shares changing hands. It is currently at two times its average daily volume and trading up $6.22 (+6.2%) at $106.73 as of 12:26 p.m. ET.
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Perrigo has a market cap of $9.33 billion and is part of the health care sector and drugs industry. Shares are down 4.5% year to date as of the close of trading on Thursday. Perrigo Company, through its subsidiaries, develops, manufactures, and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, and active pharmaceutical ingredients (API) worldwide. The company has a P/E ratio of 21.8, above the S&P 500 P/E ratio of 17.7. 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, reasonable valuation levels, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Perrigo Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. It's Official: Action Alerts PLUS beats the S&P 500 with Dividends Reinvested! Cramer and Link were up 16.72% in 2012. Were you? See what they are trading for 14-days FREE.