Our latest Top Pick is a steady grower in the medical testing field that is just getting going after a couple of big corrections during the past year, explains Mike Cintolo, editor of Cabot Top Ten Trader.

When pharmaceutical companies are looking to reduce costs in their drug development, clinical trials and FDA submission programs, Parexel International (PRXL) is the company they turn to most often.

Parexel is the prime outsourcer for these services, taking over the operations of an entire division, running drug trials—including recruiting and paying the subjects—analyzing results, writing up reports, and taking a candidate drug through the entire submission and approval process, saving client companies big money.

The company can also generate the educational materials that will accompany the new drug’s rollout and assist with its commercialization.

With 75 locations in 50 countries, Parexel is a global business that has helped to develop around 95% of the 200 top-selling biopharmaceuticals on the market today.

The company just celebrated a big five-year contract win with Pfizer and works with all 50 of the top biopharmaceutical companies and all of the top 30 biotech companies, but also scores high with smaller companies that save money through outsourcing.

The company has booked ten consecutive quarters of double-digit revenue growth and has projected earnings growth of 24% in fiscal 2015. Parexel is a steady growth story with a successful history.

PRXL has been through two painful corrections in recent history, falling from $55 to $38 in October/November 2013 and from $57 to $42 in March/April 2014. But recovery followed each of these corrections.

PRXL broke out to new all-time highs on elevated volume on September 11 and 12 and has been consolidating since.

With PRXL trading at around $61 and its rising 25-day moving average just below 59, the stock looks like a reasonable buy on any weakness. Use a stop at $56.

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