Fresenius Medical Care (NYSE:FMS) Given New $24.00 Price Target at Truist Financial

Fresenius Medical Care (NYSE:FMS) had its price objective hoisted by Truist Financial from $21.00 to $24.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

Separately, StockNews.com started coverage on Fresenius Medical Care in a report on Sunday. They set a strong-buy rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $32.25.

Fresenius Medical Care Price Performance

Shares of FMS stock traded down $0.13 during midday trading on Wednesday, reaching $22.28. 372,410 shares of the company were exchanged, compared to its average volume of 431,742. The company’s 50 day moving average price is $19.91 and its two-hundred day moving average price is $19.83. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.14 and a current ratio of 1.50. The company has a market cap of $13.07 billion, a P/E ratio of 25.18, a PEG ratio of 1.22 and a beta of 0.95. Fresenius Medical Care has a 12 month low of $16.37 and a 12 month high of $27.72.

Fresenius Medical Care (NYSE:FMS) last released its earnings results on Tuesday, February 20th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.11. Fresenius Medical Care had a return on equity of 5.29% and a net margin of 2.48%. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.32 billion. On average, sell-side analysts expect that Fresenius Medical Care will post 1.49 earnings per share for the current year.

Fresenius Medical Care Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a $0.437 dividend. The ex-dividend date is Friday, May 17th. This represents a dividend yield of 2.35%. Fresenius Medical Care’s dividend payout ratio (DPR) is 47.19%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FMS. Pacer Advisors Inc. lifted its position in shares of Fresenius Medical Care by 14,252.1% in the 4th quarter. Pacer Advisors Inc. now owns 488,401 shares of the company’s stock valued at $10,173,000 after acquiring an additional 484,998 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Fresenius Medical Care by 362.2% during the third quarter. Envestnet Asset Management Inc. now owns 259,033 shares of the company’s stock valued at $5,580,000 after buying an additional 202,991 shares in the last quarter. Moran Wealth Management LLC purchased a new stake in Fresenius Medical Care in the 4th quarter worth about $3,247,000. Guardian Capital Advisors LP boosted its position in Fresenius Medical Care by 16.7% during the 4th quarter. Guardian Capital Advisors LP now owns 123,715 shares of the company’s stock worth $2,556,000 after acquiring an additional 17,725 shares during the period. Finally, Partnership Wealth Management LLC purchased a new position in Fresenius Medical Care during the 4th quarter valued at about $2,340,000. 8.25% of the stock is currently owned by institutional investors and hedge funds.

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.