Fresenius Medical Care (NYSE:FMS) Shares Gap Down - What's Next?

Fresenius Medical Care AG (NYSE:FMS - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $24.75, but opened at $23.74. Fresenius Medical Care shares last traded at $23.79, with a volume of 98,291 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Truist Financial upped their price objective on Fresenius Medical Care from $23.00 to $25.00 and gave the stock a "hold" rating in a research report on Monday, January 6th. StockNews.com upgraded shares of Fresenius Medical Care from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th.

Fresenius Medical Care Stock Down 0.5 %

The firm's 50-day simple moving average is $23.94 and its 200 day simple moving average is $22.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.02 and a current ratio of 1.37. The company has a market capitalization of $13.81 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 0.76 and a beta of 0.93.

Institutional Investors Weigh In On Fresenius Medical Care

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC grew its holdings in shares of Fresenius Medical Care by 5,297.5% during the fourth quarter. Millennium Management LLC now owns 722,238 shares of the company's stock worth $16,351,000 after buying an additional 708,857 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Fresenius Medical Care by 3,237.7% during the 1st quarter. GAMMA Investing LLC now owns 239,115 shares of the company's stock worth $5,954,000 after purchasing an additional 231,951 shares during the period. ABC Arbitrage SA purchased a new stake in shares of Fresenius Medical Care in the fourth quarter valued at $4,215,000. OLD Mission Capital LLC acquired a new position in Fresenius Medical Care in the fourth quarter valued at $3,545,000. Finally, Broyhill Asset Management purchased a new position in Fresenius Medical Care during the fourth quarter worth about $3,412,000. 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.