Summit Global Investments Makes New Investment in Fresenius Medical Care AG (NYSE:FMS)

Summit Global Investments purchased a new position in shares of Fresenius Medical Care AG (NYSE:FMS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,949 shares of the company's stock, valued at approximately $1,443,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Millennium Management LLC increased its position in shares of Fresenius Medical Care by 5,297.5% in the fourth quarter. Millennium Management LLC now owns 722,238 shares of the company's stock worth $16,351,000 after acquiring an additional 708,857 shares in the last quarter. GAMMA Investing LLC raised its position in Fresenius Medical Care by 3,237.7% in the first quarter. GAMMA Investing LLC now owns 239,115 shares of the company's stock valued at $5,954,000 after purchasing an additional 231,951 shares during the period. ABC Arbitrage SA acquired a new position in shares of Fresenius Medical Care during the fourth quarter worth about $4,215,000. OLD Mission Capital LLC purchased a new stake in shares of Fresenius Medical Care in the fourth quarter worth about $3,545,000. Finally, Broyhill Asset Management acquired a new stake in shares of Fresenius Medical Care in the fourth quarter valued at about $3,412,000. Institutional investors and hedge funds own 8.37% of the company's stock.

Wall Street Analyst Weigh In

FMS has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an "underweight" rating on shares of Fresenius Medical Care in a report on Thursday, May 15th. Truist Financial raised their target price on Fresenius Medical Care from $25.00 to $30.00 and gave the company a "hold" rating in a research note on Monday, May 12th. Finally, Wall Street Zen assumed coverage on Fresenius Medical Care in a research note on Tuesday, May 20th. They issued a "strong-buy" rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $27.80.

Fresenius Medical Care Price Performance

Shares of Fresenius Medical Care stock traded up $0.07 on Wednesday, hitting $28.40. The company had a trading volume of 81,214 shares, compared to its average volume of 331,494. The business has a 50-day simple moving average of $26.13 and a 200-day simple moving average of $24.38. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.37 and a quick ratio of 1.02. The company has a market cap of $16.67 billion, a PE ratio of 23.47, a PEG ratio of 0.76 and a beta of 0.85. Fresenius Medical Care AG has a 52 week low of $17.93 and a 52 week high of $30.46.

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

Fresenius Medical Care Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a $0.7871 dividend. This is an increase from Fresenius Medical Care's previous annual dividend of $0.44. The ex-dividend date is Friday, May 23rd. This represents a yield of 1.9%. Fresenius Medical Care's dividend payout ratio is presently 49.11%.

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.