Fresenius Medical Care and Fresenius SE Both Preview Weaker-Than-Expected 2019 Outlook
Both Fresenius Medical Care and Fresenius SE previewed outlooks for 2019 below our expectations while also abandoning previous 2020 performance targets. While we had already assumed each company’s 2020 targets were unrealistic, the guidance for 2019 does fall short of our projections. We therefore anticipate modest reductions to our fair value estimates for both companies, but the recent sell-off in shares seems overdone, in our view. We don’t foresee dramatic changes to our longer-term assumpti...Fresenius is a health care group providing products and services for dialysis, hospitals and outpatient medical care. Co. operates four business segments: Fresenius Medical Care; Fresenius Kabi; Fresenius Helios; and Fresenius Vamed. Fresenius Medical Care provides dialysis care and dialysis products for patients with chronic kidney failure. Fresenius Kabi is engaged in the provision of generic drugs, infusion therapies, clinical nutrition products, related medical devices and transfusion technology. Fresenius Vamed manages projects and provides services for hospitals and other health care facilities. Fresenius Helios is a private hospital operator which only operates in Germany.
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