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

Shares of Fresenius Medical Care AG (NYSE:FMS) gapped down before the market opened on Friday . The stock had previously closed at $24.25, but opened at $23.44. Fresenius Medical Care shares last traded at $23.43, with a volume of 113,904 shares.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FMS. Berenberg Bank began coverage on shares of Fresenius Medical Care in a report on Wednesday, November 6th. They set a “buy” rating and a $25.60 price objective on the stock. StockNews.com upgraded shares of Fresenius Medical Care from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Bank of America upgraded shares of Fresenius Medical Care from an “underperform” rating to a “neutral” rating in a report on Monday, December 2nd. Finally, Truist Financial raised their price target on shares of Fresenius Medical Care from $23.00 to $25.00 and gave the company a “hold” rating in a report on Monday, January 6th.

Fresenius Medical Care Price Performance

The company’s fifty day moving average is $23.47 and its 200 day moving average is $21.49. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.42. The stock has a market cap of $13.74 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 0.80 and a beta of 0.93.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Venturi Wealth Management LLC raised its holdings in Fresenius Medical Care by 8.4% in the fourth quarter. Venturi Wealth Management LLC now owns 5,700 shares of the company’s stock valued at $129,000 after buying an additional 441 shares during the period. PNC Financial Services Group Inc. grew its position in Fresenius Medical Care by 5.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,278 shares of the company’s stock valued at $210,000 after acquiring an additional 442 shares in the last quarter. Allworth Financial LP grew its position in Fresenius Medical Care by 53.1% in the third quarter. Allworth Financial LP now owns 1,675 shares of the company’s stock valued at $36,000 after acquiring an additional 581 shares in the last quarter. MML Investors Services LLC grew 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 acquiring an additional 753 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Fresenius Medical Care by 192.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,224 shares of the company’s stock valued at $28,000 after acquiring an additional 806 shares in the last quarter. Hedge funds and other institutional investors own 8.37% of the company’s stock.

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.