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

Fresenius Medical Care AG (NYSE:FMS) shares gapped up prior to trading on Thursday . The stock had previously closed at $23.17, but opened at $24.22. Fresenius Medical Care shares last traded at $24.23, with a volume of 53,280 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FMS shares. Bank of America upgraded Fresenius Medical Care from an “underperform” rating to a “neutral” rating in a report on Monday, December 2nd. StockNews.com started coverage on Fresenius Medical Care in a research note on Friday, January 3rd. They issued a “strong-buy” rating on the stock. Berenberg Bank assumed 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. Finally, Truist Financial lifted 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 has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.42. The company’s 50 day moving average is $22.87 and its 200-day moving average is $21.00. The stock has a market cap of $14.45 billion, a PE ratio of 20.35, a P/E/G ratio of 0.75 and a beta of 0.92.

Fresenius Medical Care (NYSE:FMS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. The firm had revenue of $5.23 billion for the quarter, compared to analysts’ expectations of $5.36 billion. Fresenius Medical Care had a net margin of 3.43% and a return on equity of 6.04%. During the same period in the prior year, the company posted $0.31 earnings per share. As a group, sell-side analysts predict that Fresenius Medical Care AG will post 1.53 earnings per share for the current year.

Institutional Trading of Fresenius Medical Care

Institutional investors and hedge funds have recently bought and sold shares of the company. Moran Wealth Management LLC raised its position in shares of Fresenius Medical Care by 47.0% during the 3rd quarter. Moran Wealth Management LLC now owns 233,376 shares of the company’s stock valued at $4,971,000 after acquiring an additional 74,621 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Fresenius Medical Care by 78.9% in the third quarter. Quantinno Capital Management LP now owns 110,078 shares of the company’s stock valued at $2,345,000 after acquiring an additional 48,554 shares during the period. Crossmark Global Holdings Inc. raised its position in shares of Fresenius Medical Care by 60.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 62,889 shares of the company’s stock worth $1,340,000 after purchasing an additional 23,692 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Fresenius Medical Care during the 3rd quarter worth $420,000. Finally, XTX Topco Ltd increased its position in Fresenius Medical Care by 70.8% in the third quarter. XTX Topco Ltd now owns 39,769 shares of the company’s stock worth $847,000 after buying an additional 16,487 shares during the period. Institutional investors and hedge funds own 8.37% 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.