Fresenius Medical Care (NYSE:FMS) Shares Gap Down – Here’s Why

Fresenius Medical Care AG (NYSE:FMS) shares gapped down prior to trading on Wednesday . The stock had previously closed at $20.39, but opened at $19.47. Fresenius Medical Care shares last traded at $19.59, with a volume of 96,088 shares trading hands.

Analysts Set New Price Targets

FMS has been the topic of a number of research reports. StockNews.com initiated coverage on shares of Fresenius Medical Care in a research report on Friday. They set a “strong-buy” rating on the stock. Truist Financial boosted their price objective on shares of Fresenius Medical Care from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $23.00.

Fresenius Medical Care Price Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.46 and a quick ratio of 1.09. The stock’s 50 day simple moving average is $20.32 and its two-hundred day simple moving average is $20.17. The stock has a market cap of $11.47 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 0.93 and a beta of 0.91.

Fresenius Medical Care (NYSE:FMS) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.28 billion. Fresenius Medical Care had a return on equity of 5.48% and a net margin of 2.72%. On average, analysts forecast that Fresenius Medical Care AG will post 1.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FMS. Wulff Hansen & CO. increased its position in shares of Fresenius Medical Care by 1,809.0% during the 2nd quarter. Wulff Hansen & CO. now owns 343,429 shares of the company’s stock worth $6,556,000 after purchasing an additional 325,439 shares in the last quarter. Triasima Portfolio Management inc. raised its stake in shares of Fresenius Medical Care by 27.4% in the second quarter. Triasima Portfolio Management inc. now owns 85,430 shares of the company’s stock valued at $1,631,000 after acquiring an additional 18,360 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Fresenius Medical Care by 10.9% in the 2nd quarter. QRG Capital Management Inc. now owns 60,309 shares of the company’s stock worth $1,151,000 after acquiring an additional 5,946 shares in the last quarter. Creative Planning grew its position in Fresenius Medical Care by 18.9% during the 2nd quarter. Creative Planning now owns 40,140 shares of the company’s stock worth $766,000 after acquiring an additional 6,373 shares during the last quarter. Finally, Ritholtz Wealth Management increased its holdings in Fresenius Medical Care by 2.5% during the 2nd quarter. Ritholtz Wealth Management now owns 36,901 shares of the company’s stock valued at $704,000 after purchasing an additional 895 shares in the last quarter. 8.25% of the stock is currently owned by institutional investors and hedge funds.

Fresenius Medical Care Company Profile

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.