Report
Jake Strole
EUR 100.00 For Business Accounts Only

Fresenius Shares Look Undervalued Despite Improving Fundamentals in 2019

Fresenius Medical Care reported 2018 results that largely tracked our expectations. Following a volatile third quarter, we're encouraged by the broad strength across business lines to end the year. We think this illustrates the stability that has characterized the dialysis-services market over the long term and the narrow economic moat Fresenius has been able to build. As we update our model, we may raise our EUR 79 per share fair value estimate ($49 per ADR) modestly to reflect the cash flows r...
Underlying
FRESENIUS MEDICAL CARE AG

RegistrarFresenius Medical Care is a kidney dialysis company, operating in both the field of dialysis services and the field of dialysis products for the treatment of end-stage renal disease (ESRD). Co.'s dialysis business is vertically integrated, providing dialysis treatment at dialysis clinics it owns or operates and supplying these clinics with a range of products. In addition, Co. sells dialysis products to other dialysis service providers. In the U.S.A., Co. also provides inpatient dialysis services and other services under contract to hospitals. Co. provides patient services, including renal pharmaceutical products and in the U.S.A., laboratory services.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Jake Strole

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