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PerkinElmer Stock Earns 83 Relative Strength Rating; Buys Lifescience Firm BioLegend

One important metric to look for in a stock is an 80 or higher Relative Strength Rating. PerkinElmer (PKI) just hit that mark, with a jump from 80 to 83 Tuesday.

The diagnostic, life science and food company said it would buy BioLegend, a privately held maker of of biomedical research tools for Covid-19 and other illnesses, in a deal worth $5.25 billion in shares and cash.




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When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

IBD’s unique RS Rating identifies market leadership by showing how a stock’s price movement over the last 52 weeks measures up against that of other stocks on the major indexes.

Over 100 years of market history shows that the best-performing stocks typically have an 80 or better RS Rating in the early stages of their moves.


Looking For Winning Stocks? Try This Simple Routine


Is PerkinElmer Stock A Buy?

PerkinElmer stock is now considered extended and out of buy range after clearing a 149.19 buy point in a first-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.

 

The company reported 80% EPS growth in its most recent report, while sales growth came in at 51%.

PerkinElmer stock holds the No. 6 rank among its peers in the Medical-Research Equipment/Services industry group. Avantor (AVTR) and Iqvia (IQV) are also among the group’s highest-rated stocks.

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