Short Interest in Fresenius Medical Care Drops 27.8% in October

Fresenius Medical Care AG & Co. KGaA (NYSE:FMS) reported a significant reduction in short interest as of October 15, 2023. The short interest fell by **27.8%**, dropping from **891,600 shares** on September 30 to **643,800 shares**. This represents approximately **0.1%** of the company’s total shares, indicating a moderate level of short selling. With an average trading volume of **330,300 shares**, the days-to-cover ratio currently stands at **1.9 days**.

Changes in Institutional Investments

Recent activity among institutional investors highlights shifts in their positions regarding Fresenius Medical Care. Notably, **Pzena Investment Management LLC** increased its stake by **0.6%**, now holding **15,377,090 shares** valued at approximately **$382.89 million** after acquiring an additional **94,065 shares** in the last quarter. Another significant player, **Millennium Management LLC**, raised its stake by **50.0%**, bringing its total to **1,083,602 shares** valued at about **$26.98 million** after a purchase of **361,364 shares**.

In the first quarter, **Todd Asset Management LLC** entered the market with a new stake worth about **$12.01 million**. Additionally, **Hennessy Advisors Inc.** made a notable investment of approximately **$11.48 million** during the second quarter. **Northern Trust Corp** also increased its holdings by **5.0%**, acquiring an additional **18,061 shares** to reach a total of **380,251 shares**, valued at **$9.47 million**. Overall, institutional investors currently own **8.37%** of the company’s stock.

Analyst Ratings and Price Performance

Fresenius Medical Care has been the subject of various analyst reports recently. **Wall Street Zen** upgraded the stock from a “buy” to a “strong-buy” rating on October 25. Conversely, **Bank of America** downgraded the shares from “neutral” to “underperform” on October 15. Similarly, **UBS Group** lowered their rating from “sell” to “underperform” on the same day.

Currently, one analyst rates the stock as a strong buy, two as buy, one as hold, and three as sell, leading to an average rating of “hold” with a target price of **$27.80**, according to data from **MarketBeat.com**.

On October 24, Fresenius Medical Care shares traded down **$2.18** to **$24.18**, with a total volume of **1,402,624 shares** exchanged, surpassing its average volume of **358,204 shares**. The stock has fluctuated within a **12-month range** of **$19.89** to **$30.46**. The company’s market capitalization stands at **$14.19 billion**, with a price-to-earnings (P/E) ratio of **19.82** and a price-to-earnings-growth (PEG) ratio of **0.64**.

Fresenius Medical Care’s financial health remains stable, as evidenced by a current ratio of **1.44**, a quick ratio of **1.08**, and a debt-to-equity ratio of **0.44**. The company most recently reported quarterly earnings on **August 5, 2023**, revealing earnings per share (EPS) of **$0.52**, which surpassed the consensus estimate of **$0.50**. The company generated revenues of **$5.54 billion**, exceeding analysts’ expectations of **$5 billion**.

Fresenius Medical Care AG & Co. KGaA specializes in providing dialysis and related services to individuals with renal diseases across Germany, North America, and globally. The company operates a network of outpatient dialysis clinics and offers comprehensive patient support services, including clinical monitoring and supply delivery for home care patients.

As the company navigates changing investment landscapes and analyst sentiments, stakeholders will be closely monitoring its performance and strategic developments in the coming months.