French pharma giant Sanofi got a rating upgrade Tuesday. The Relative Strength (RS) Rating for Sanofi stock jumped to 84, up from 80 on Monday. The upgraded 84 RS Rating puts Sanofi stock among the top 16% of all stocks for price performance this past year.
Research shows that stocks that go on to make the biggest gains often have an RS Rating north of 80 in the early stages of their moves.
Sanofi Stock Has Generally Good Ratings
Additionally, Sanofi stock has a decent 83 Composite Rating out of 99, and an 80 Earnings Per Share Rating. Its SMR Rating (sales + profit margins + return on equity) is also a good though not-yet-great B on an A-to-E scale with A superb and E terrible.
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In terms of fundamentals, the company reported 4% earnings growth to 95 cents per share last quarter. Sales grew 3% to $10.9 billion. The next quarterly numbers are expected on or around Oct. 27.
Forms Cup-With-Handle Base, Moves Sideways
Sanofi stock formed a long cup-with-handle base starting in March 2022, rising to a 57.82 high on April 26 this year, but it's been unable to capitalize on that so far, mostly moving sideways in the intervening months. Tuesday Sanofi stock rose 0.5% to 52.33.
Sanofi earns the No. 5 rank among its peers in the 34-stock Medical-Ethical Drugs industry group. Novartis and Zoetis are also among the group's highest-rated stocks.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
The unique Relative Strength Rating measures market leadership using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the trailing 52 weeks matches up against other publicly traded companies.
