Drugs Stocks On The Rise With Help From 3 Stocks

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 61 points (0.3%) at 18,072 as of Monday, June 1, 2015, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,805 issues advancing vs. 1,201 declining with 153 unchanged.

The Drugs industry currently sits up 0.2% versus the S&P 500, which is up 0.3%. Top gainers within the industry include Bristol-Myers Squibb Company ( BMY), up 3.3%, Alexion Pharmaceuticals ( ALXN), up 1.1%, Actavis ( ACT), up 0.8%, Amgen ( AMGN), up 0.7% and Abbott Laboratories ( ABT), up 0.9%. On the negative front, top decliners within the industry include Shire ( SHPG), down 1.3%, and GlaxoSmithKline ( GSK), down 0.5%.

TheStreet would like to highlight 3 stocks pushing the industry higher today:

3. Perrigo ( PRGO) is one of the companies pushing the Drugs industry higher today. As of noon trading, Perrigo is up $3.70 (1.9%) to $194.00 on light volume. Thus far, 449,577 shares of Perrigo exchanged hands as compared to its average daily volume of 2.1 million shares. The stock has ranged in price between $191.51-$194.22 after having opened the day at $191.70 as compared to the previous trading day's close of $190.30.

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Perrigo Company plc, through its subsidiaries, develops, manufactures, and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, nutritional products, and active pharmaceutical ingredients (API). Perrigo has a market cap of $28.4 billion and is part of the health care sector. Shares are up 13.8% year-to-date as of the close of trading on Friday. Currently there are 5 analysts who rate Perrigo a buy, no analysts rate it a sell, and 6 rate it a hold.

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, good cash flow from operations, expanding profit margins and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income. Get the full Perrigo Ratings Report now.

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