Bank of America Corp DE Sells 9,678 Shares of Fresenius Medical Care AG (NYSE:FMS)

Bank of America Corp DE trimmed its position in Fresenius Medical Care AG (NYSE:FMS - Free Report) by 16.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 49,627 shares of the company's stock after selling 9,678 shares during the period. Bank of America Corp DE's holdings in Fresenius Medical Care were worth $1,124,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Callan Family Office LLC bought a new position in Fresenius Medical Care in the fourth quarter valued at about $502,000. Raymond James Financial Inc. acquired a new position in shares of Fresenius Medical Care in the fourth quarter valued at approximately $405,000. Callan Capital LLC bought a new position in Fresenius Medical Care in the 4th quarter valued at approximately $297,000. Sanctuary Advisors LLC bought a new position in Fresenius Medical Care in the 4th quarter valued at approximately $983,000. Finally, Jane Street Group LLC acquired a new stake in Fresenius Medical Care during the 4th quarter worth approximately $447,000. Institutional investors and hedge funds own 8.37% of the company's stock.

Fresenius Medical Care Trading Up 0.0%

Fresenius Medical Care stock traded up $0.01 during mid-day trading on Tuesday, hitting $28.64. 472,968 shares of the stock were exchanged, compared to its average volume of 334,776. The firm's fifty day simple moving average is $26.43 and its two-hundred day simple moving average is $24.58. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.42. Fresenius Medical Care AG has a 12 month low of $17.93 and a 12 month high of $30.46. The stock has a market capitalization of $16.81 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 0.76 and a beta of 0.88.

Fresenius Medical Care (NYSE:FMS - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. The business had revenue of $5.54 billion during the quarter, compared to the consensus estimate of $4.71 billion. Fresenius Medical Care had a net margin of 3.43% and a return on equity of 6.04%. Analysts forecast that Fresenius Medical Care AG will post 1.51 EPS for the current year.

Fresenius Medical Care Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were paid a $0.7871 dividend. This represents a dividend yield of 1.9%. This is an increase from Fresenius Medical Care's previous annual dividend of $0.44. The ex-dividend date was Friday, May 23rd. Fresenius Medical Care's payout ratio is currently 50.89%.

Analysts Set New Price Targets

Several research firms have recently issued reports on FMS. Morgan Stanley reaffirmed an "underweight" rating on shares of Fresenius Medical Care in a research note on Thursday, May 15th. Wall Street Zen started coverage on Fresenius Medical Care in a research report on Tuesday, May 20th. They set a "strong-buy" rating for the company. Finally, Truist Financial lifted their target price on Fresenius Medical Care from $25.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Fresenius Medical Care currently has an average rating of "Hold" and a consensus price target of $27.80.

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.