Legacy Wealth Asset Management LLC Makes New Investment in Fresenius Medical Care AG (NYSE:FMS)

Legacy Wealth Asset Management LLC purchased a new position in shares of Fresenius Medical Care AG (NYSE:FMS) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 30,309 shares of the company’s stock, valued at approximately $584,000.

Other hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings in shares of Fresenius Medical Care by 14,252.1% during the fourth 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 during the period. Envestnet Asset Management Inc. boosted its position in Fresenius Medical Care by 362.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 259,033 shares of the company’s stock worth $5,580,000 after acquiring an additional 202,991 shares during the period. Moran Wealth Management LLC acquired a new position in shares of Fresenius Medical Care during the fourth quarter valued at $3,247,000. Guardian Capital Advisors LP lifted its holdings in Fresenius Medical Care by 16.7% in the fourth quarter. Guardian Capital Advisors LP now owns 123,715 shares of the company’s stock worth $2,556,000 after purchasing an additional 17,725 shares during the period. Finally, Partnership Wealth Management LLC bought a new stake in shares of Fresenius Medical Care during the 4th quarter worth about $2,340,000. Institutional investors own 8.25% of the company’s stock.

Fresenius Medical Care Trading Up 0.4 %

Shares of NYSE FMS opened at $19.23 on Friday. 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 stock has a market cap of $11.28 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.02 and a beta of 0.90. The business has a 50 day simple moving average of $20.70 and a 200 day simple moving average of $20.15. Fresenius Medical Care AG has a 52 week low of $16.37 and a 52 week high of $27.72.

Fresenius Medical Care (NYSE:FMS) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. Fresenius Medical Care had a return on equity of 5.29% and a net margin of 2.48%. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.15 billion. On average, research analysts predict that Fresenius Medical Care AG will post 1.5 earnings per share for the current fiscal year.

Fresenius Medical Care Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were paid a $0.437 dividend. The ex-dividend date was Friday, May 17th. This represents a dividend yield of 2.35%. Fresenius Medical Care’s payout ratio is presently 49.44%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FMS shares. StockNews.com started coverage on shares of Fresenius Medical Care in a research note on Wednesday. They issued a “strong-buy” rating on the stock. Truist Financial upped their target price on Fresenius Medical Care from $21.00 to $24.00 and gave the company a “hold” rating in a report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $32.25.

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.