Fresenius Medical Care (NYSE:FMS) Shares Gap Down – What’s Next?

Fresenius Medical Care AG (NYSE:FMS) gapped down before the market opened on Friday . The stock had previously closed at $22.48, but opened at $21.85. Fresenius Medical Care shares last traded at $21.91, with a volume of 23,815 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FMS shares. Truist Financial raised their price objective on Fresenius Medical Care from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Berenberg Bank started coverage on shares of Fresenius Medical Care in a report on Wednesday, November 6th. They issued a “buy” rating and a $25.60 price target on the stock. Finally, StockNews.com initiated coverage on shares of Fresenius Medical Care in a research report on Thursday. They set a “strong-buy” rating for the company.

Fresenius Medical Care Stock Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.37 and a quick ratio of 1.02. The firm has a market cap of $12.89 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 1.03 and a beta of 0.91. The firm has a fifty day simple moving average of $20.93 and a two-hundred day simple moving average of $20.32.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP raised its stake in Fresenius Medical Care by 53.1% in the 3rd quarter. Allworth Financial LP now owns 1,675 shares of the company’s stock worth $36,000 after acquiring an additional 581 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Fresenius Medical Care by 4.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 14,581 shares of the company’s stock valued at $278,000 after purchasing an additional 624 shares during the period. Signaturefd LLC lifted its holdings in shares of Fresenius Medical Care by 8.4% during the second quarter. Signaturefd LLC now owns 8,713 shares of the company’s stock worth $166,000 after purchasing an additional 672 shares during the period. MML Investors Services LLC boosted its position in Fresenius Medical Care by 5.3% in the third quarter. MML Investors Services LLC now owns 15,019 shares of the company’s stock valued at $320,000 after buying an additional 753 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its position in Fresenius Medical Care by 2.5% in the second quarter. Ritholtz Wealth Management now owns 36,901 shares of the company’s stock valued at $704,000 after buying an additional 895 shares during the last quarter. Hedge funds and other institutional investors own 8.25% of the company’s stock.

About Fresenius Medical Care

Fresenius Medical Care AG provides dialysis and related services for individuals with renal diseases in Germany, North America, and internationally. The company offers dialysis treatment and related laboratory and diagnostic services through a network of outpatient dialysis clinics; materials, training, and patient support services comprising clinical monitoring, follow-up assistance, and arranging for delivery of the supplies to the patient's residence; and dialysis services under contract to hospitals in the United States for the hospitalized end-stage renal disease (ESRD) patients and for patients suffering from acute kidney failure.