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MarketScreener Homepage  >  Equities  >  Xetra  >  Fresenius    FRE   DE0005785604

FRESENIUS

(FRE)
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Fresenius, Fresenius Medical Care Shares Fall on Revised Outlook

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12/07/2018 | 04:40am EDT

By Patrick Costello

Shares of Fresenius fell sharply Friday morning after the German healthcare provider adjusted its midterm guidance and warned it would miss its 2020 group targets late Thursday.

Fresenius said it expects to see mid-single-digit organic sales growth for 2019 compared with earlier forecasts that had group sales increasing at a compounded annual growth rate, or CAGR, of 7.1% to 10.3% through 2020.

Net income for 2019 would remain "broadly stable" compared with 2018, Fresenius said. Its previous forecasts saw group net income increasing at a CAGR of 8.3% to 12.6% through 2020.

At GMT 0910, Fresenius SE was 10% lower at EUR42.56. The company is down nearly 34% in the year to date.

Shares of Fresenius Medical Care, a provider of dialysis products and services that is partially owned by Fresenius SE, also fell Friday after it said 2019 sales growth and net income would be in line with levels recorded in 2018.

Fresenius Medical Care's shares were down 6.9% at EUR63.38.

Bryan Garnier said both companies' shares will remain under pressure until they release more detailed guidance along with full-year earnings Feb. 20.

Fresenius's decision to revise its 2020 targets is "no surprise whatsoever," Berenberg said, adding that the existing 2020 targets had already been rendered "completely meaningless" due to events like the divestiture of Sound and the pending acquisition of NxStage.

The revised forecasts should be taken positively once investors work out the implications, the bank said.

Write to Patrick Costello at Patrick.Costello@dowjones.com.

Stocks mentioned in the article
ChangeLast1st jan.
FRESENIUS -0.41% 48.81 Delayed Quote.15.17%
FRESENIUS MEDICAL CARE -2.29% 69.24 Delayed Quote.22.25%
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Financials (€)
Sales 2019 35 217 M
EBIT 2019 4 683 M
Net income 2019 1 884 M
Debt 2019 17 569 M
Yield 2019 1,67%
P/E ratio 2019 14,68
P/E ratio 2020 13,58
EV / Sales 2019 1,27x
EV / Sales 2020 1,17x
Capitalization 27 160 M
Chart FRESENIUS
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Technical analysis trends FRESENIUS
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TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 58,1 €
Spread / Average Target 19%
EPS Revisions
Managers
NameTitle
Stephan Sturm President & Chief Executive Officer
Gerd Krick Chairman-Supervisory Board
Rachel Clare Empey Chief Financial Officer
Niko Stumpfögger Deputy Chairman-Supervisory Board
Klaus-Peter Müller Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
FRESENIUS15.17%30 306
AIER EYE HOSPITAL GROUP CO LTD--.--%12 506
BANGKOK DUSIT MEDICAL SERVICES PCL--.--%12 430
IHH HEALTHCARE BHD--.--%11 472
RAMSAY HEALTH CARE LIMITED12.33%9 004
HAPVIDA PARTICIPACOES E INVESTIMENTOS SA11.51%5 703