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PRGO (RS) Rating upgraded from 70 to 80 Wednesday & Insider Sells Shares Perrigo (PRGO) had its Relative Strength (RS) Rating upgraded from 70 to 80 Wednesday.
Decades of market research reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of above 80 in the early stages of their moves. Perrigo has climbed more than 5% past a 77.84 entry in a first-stage flat base, meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average. Although earnings and sales growth came in at -5% and -8%, respectively, in the latest report, that marked two quarters of acceleration for earnings and one for the top line. The company earns the No. 5 rank among its peers in the Medical-Generic Drugs industry group. ANI Pharmaceuticals (ANIP) is the top-ranked stock within the group. In related news, EVP Jeffrey Needham sold 3,595 shares of Perrigo stock in a
transaction that occurred on Tuesday, September 12th. The shares were sold at an
average price of $89.49, for a total value of $321,716.55. Following the
completion of the sale, the executive vice president now owns 10,118 shares in
the company, valued at approximately $905,459.82. The transaction was disclosed
in a legal filing with the Securities & Exchange Commission, which can be
accessed through the SEC website. |
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