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

Fresenius Medical Care AG (NYSE:FMS - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $24.19, but opened at $23.35. Fresenius Medical Care shares last traded at $23.21, with a volume of 31,033 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FMS. StockNews.com upgraded Fresenius Medical Care from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Truist Financial boosted their target price 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. Finally, Bank of America upgraded shares of Fresenius Medical Care from an "underperform" rating to a "neutral" rating in a report on Monday, December 2nd.

Fresenius Medical Care Price Performance

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 stock's 50-day moving average is $23.61 and its two-hundred day moving average is $22.13. The stock has a market cap of $13.59 billion, a PE ratio of 19.14, a PEG ratio of 0.76 and a beta of 0.99.

Hedge Funds Weigh In On Fresenius Medical Care

Hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC lifted its holdings in Fresenius Medical Care by 5,297.5% during the 4th 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. Integral Health Asset Management LLC grew its stake in Fresenius Medical Care by 33.3% during the 4th quarter. Integral Health Asset Management LLC now owns 600,000 shares of the company's stock worth $13,584,000 after purchasing an additional 150,000 shares in the last quarter. Northern Trust Corp increased its holdings in Fresenius Medical Care by 45.9% during the 4th quarter. Northern Trust Corp now owns 362,190 shares of the company's stock worth $8,200,000 after purchasing an additional 113,953 shares during the period. Moran Wealth Management LLC raised its position in Fresenius Medical Care by 9.1% in the 4th quarter. Moran Wealth Management LLC now owns 254,710 shares of the company's stock valued at $5,767,000 after purchasing an additional 21,334 shares in the last quarter. Finally, ABC Arbitrage SA acquired a new position in shares of Fresenius Medical Care during the fourth quarter worth about $4,215,000. 8.37% of the stock is currently 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.

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