Fresenius Medical Care (NYSE:FMS) Shares Gap Down - Here's What Happened

Fresenius Medical Care AG (NYSE:FMS - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $20.39, but opened at $19.47. Fresenius Medical Care shares last traded at $19.59, with a volume of 96,088 shares trading hands.

Analysts Set New Price Targets

FMS has been the subject of several research analyst reports. StockNews.com started coverage on shares of Fresenius Medical Care in a report on Tuesday, October 8th. They issued a "strong-buy" rating for the company. Truist Financial upped their price objective on Fresenius Medical Care from $22.00 to $23.00 and gave the company a "hold" rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Fresenius Medical Care has an average rating of "Hold" and an average price target of $23.00.

Fresenius Medical Care Stock Performance

The firm's fifty day simple moving average is $20.31 and its 200 day simple moving average is $20.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.46 and a quick ratio of 1.09. The company has a market capitalization of $11.21 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 1.11 and a beta of 0.91.

Fresenius Medical Care (NYSE:FMS - Get Free Report) last announced its earnings results on Tuesday, July 30th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.28 billion. Fresenius Medical Care had a net margin of 2.72% and a return on equity of 5.48%. On average, sell-side analysts forecast that Fresenius Medical Care AG will post 1.52 EPS for the current year.

Institutional Investors Weigh In On Fresenius Medical Care

Institutional investors have recently bought and sold shares of the business. Uncommon Cents Investing LLC boosted its holdings in shares of Fresenius Medical Care by 8.0% during the first quarter. Uncommon Cents Investing LLC now owns 38,810 shares of the company's stock worth $748,000 after purchasing an additional 2,890 shares during the period. Legacy Wealth Asset Management LLC purchased a new position in shares of Fresenius Medical Care during the 1st quarter valued at $584,000. Veracity Capital LLC increased its stake in shares of Fresenius Medical Care by 172.2% in the first quarter. Veracity Capital LLC now owns 53,023 shares of the company's stock worth $1,022,000 after acquiring an additional 33,543 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of Fresenius Medical Care during the first quarter worth $110,000. Finally, SG Americas Securities LLC boosted its position in Fresenius Medical Care by 50.0% during the first quarter. SG Americas Securities LLC now owns 15,228 shares of the company's stock valued at $294,000 after purchasing an additional 5,078 shares during the last quarter. 8.25% of the stock is currently owned by institutional investors and hedge funds.

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.