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July 03, 2023
A quick look at today: pronounced bearish sentiment in the market pushed the kidney dialysis specialist into a notable 0.73% slide today, falling 17.5 cents and ultimately closing at $23.75.
Fresenius Medical Care is currently trading at $23.75 following the release of ISM Manufacturing PMI (Jun) data from the United States.
While price action maintains a negative bias, United States ISM Manufacturing PMI (Jun) released today at 14:00 UTC with a figure of 46, while the previous figure was 46.9. United States ISM Manufacturing Employment (Jun) came out at 48.1, while a consensus of analysts was expecting 50.8. United States ISM Manufacturing Prices (Jun) came out at 41.8, while a consensus of analysts was expecting 44.
Chart analysis indicates Fresenius Medical Care AG & Co. KGaA could begin to recover as it approaches significant support, now 9 cents away from $23.84. Dipping below could be an indication that further losses are ahead.
Fresenius Medical Care was not the only decliner in the health care sector; Astrazeneca PLC closed at $65.25 (down 8.83%). Novartis falls 2.12% today to close at $100.91. Stryker closed at $298 (down 2.32%).
The past 6 months have been positive for the US-German healthcare company as it appreciated 48.54%, having traded as low as $12.81.
