Fresenius' Kabi Segment Continues to Exceed Expectations, but Shares Look Expensive to Us
We don’t anticipate a major change in our fair value estimate for Fresenius as we re-evaluate some of our assumptions, particularly in our near-term forecast for the Kabi segment, where profitability continues to run a bit higher than our expectations. Kabi's performance also led management to boost its year-end outlook for net income growth to 11%-14% from 8%-12%. While management’s execution, including drug launches in Kabi, combined with persistent gains from drug shortages have upheld strong...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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