Fresenius Medical Care (NYSE:FMS) Reaches New 52-Week High – Here’s Why

Fresenius Medical Care AG (NYSE:FMS) reached a new 52-week high during trading on Friday . The company traded as high as $24.35 and last traded at $24.25, with a volume of 248560 shares trading hands. The stock had previously closed at $23.17.

Wall Street Analysts Forecast Growth

FMS has been the subject of a number of research analyst reports. Berenberg Bank initiated coverage on Fresenius Medical Care in a report on Wednesday, November 6th. They issued a “buy” rating and a $25.60 price target for the company. Truist Financial increased their target price on shares of Fresenius Medical Care from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Bank of America raised shares of Fresenius Medical Care from an “underperform” rating to a “neutral” rating in a research report on Monday, December 2nd. Finally, StockNews.com started coverage on shares of Fresenius Medical Care in a report on Friday, January 3rd. They issued a “strong-buy” rating on the stock.

Fresenius Medical Care Trading Up 4.6 %

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 firm’s 50-day simple moving average is $22.82 and its 200 day simple moving average is $20.98. The stock has a market capitalization of $14.23 billion, a P/E ratio of 20.04, a PEG ratio of 0.75 and a beta of 0.92.

Fresenius Medical Care (NYSE:FMS) last released its earnings results on Tuesday, November 5th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.42 by $0.03. The business had revenue of $5.23 billion during the quarter, compared to analyst estimates 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 business earned $0.31 earnings per share. Equities research analysts anticipate that Fresenius Medical Care AG will post 1.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Fresenius Medical Care

Hedge funds have recently modified their holdings of the stock. Allworth Financial LP raised its holdings in Fresenius Medical Care by 53.1% during the 3rd quarter. Allworth Financial LP now owns 1,675 shares of the company’s stock worth $36,000 after buying an additional 581 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of Fresenius Medical Care by 4.5% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,581 shares of the company’s stock valued at $278,000 after acquiring an additional 624 shares during the period. MML Investors Services LLC lifted its position in shares of Fresenius Medical Care by 5.3% in the 3rd 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. Rhumbline Advisers boosted its stake in Fresenius Medical Care by 6.7% in the 2nd quarter. Rhumbline Advisers now owns 18,067 shares of the company’s stock worth $345,000 after purchasing an additional 1,128 shares during the period. Finally, Marshall Wace LLP grew its position in Fresenius Medical Care by 8.5% during the 2nd quarter. Marshall Wace LLP now owns 15,363 shares of the company’s stock worth $293,000 after purchasing an additional 1,207 shares in the last quarter. 8.37% of the stock is owned by hedge funds and other institutional investors.

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.