Overall market sentiment has been down on Perrigo Company PLC (PRGO) stock lately. PRGO receives a Bearish rating from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What's Happening With PRGO Stock Today?
Perrigo Company PLC (PRGO) stock is trading at $44.42 as of 10:09 AM on Thursday, Nov 5, a gain of $3.15, or 7.63% from the previous closing price of $41.27. The stock has traded between $43.67 and $45.40 so far today. Volume today is 646,389 compared to average volume of 802,375.
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More About Perrigo Company PLC
Perrigo is the leading provider of over-the-counter generic drugs with over 100 global locations. The company was formed in 1887 as a packager of home remedies and has grown with the migration of prescriptions switching to OTC and later with strategic acquisitions. The company has a portfolio of more than 3,000 product formulations and 14,000 stock-keeping units. Most of its manufacturing and customer base reside in North America. With the most recent management change, the company announced a narrower focus on consumer wellness in conjunction with the divestiture of animal health, acquisition of Ranir Global Holdings, and plans to sell or spin off the prescription business.
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