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Fresenius Medical Care has published its figures for Q2 2010. Sales fell somewhat short of expectations, but this is disappointment is largely offset by excellent operational performance => the margins are a big surprise! We regard this company as a good conservative investment thanks to its excellent qualities. It will benefit from the changed regulatory provisions affecting charges for dialysis services in the USA. PLUS confirmed.
We have given Fresenius Medical Care (FMC) a PLUS code for several reasons: defensive profile with recurring activities; no exposure to patent expiries; little pressure on prices; vertical integration of the company enabling it to exert leverage on each link in the production chain; “bundled pricing ” in the US; attractive valuation and growth.
Fresenius Medical Care (FMC) is an excellent investment for several reasons: defensive profile with recurring activities that are indispensable for patients; no exposure to patent expiries; little pressure on prices; vertical integration of the company, enabling it to exert leverage on each link in the production chain; attractive valuation and growth.
FMC has published slightly better than expected results, confirming the strength of its activities in Q3 after a fairly weak Q2. Operating margins are improving and prospects have been raised. In our view, this is definitely a good share to hold, benefiting as it does from excellent qualities. PLUS confirmed.
Q2 results announced by FMC were in line for sales, although the operating profit proved disappointing. Pressures on margins penalised the company in Q2 2009. However, this situation should only be short-lived. FMC remains a high quality investment with recurring and, above all, predictable activities. Prospects confirmed. PLUS.
We have given Fresenius Medical Care (FMC) a PLUS code for several reasons: defensive profile with recurring activities that are indispensable for patients; no exposure to patent expiries; little pressure on prices; vertical integration of the company enabling it to exert leverage on each link in the production chain; attractive valuation and growth.
Results published by Fresenius Medical Care for Q1 2009 were slightly better than expected. The figures are strong and visibility confirmed. We remain convinced that FMC is a good investment, especially in the present uncertainty. The potential opportunities have not been fully exploited and include: US reimbursements (bundle rate), expansion in the pharmaceutical franchise (agreements with Amgen and Galenica) and the opening of new international clinics (Germany and Japan). PLUS
Fresenius Medical Care has announced the departure of its CFO. The share has reacted very negatively. However, we remain convinced that an investment in FMC is fully justified, especially in the current period of uncertainty. Potential opportunities still exist and include US reimbursements (bundle rate), expansion in the pharmaceutical franchise (agreements with Amgen and Galenica) as well as the opening of new international clinics (Germany and Japan). PLUS code confirmed.
Fresenius Medical Care has published results perfectly in line with market expectations. FMC is a company with high visibility both of its stable operating activities (Dialysis Services) and of its fast growing business (Dialysis Products). We remain confident in the validity of an investment in FMC, notably in the current uncertain environment. PLUS code confirmed.
Fresenius Medical Care has published results generally in line with expectations, despite some weakness on certain points such as profitability. The company has confirmed its prospects for 2008 and until 2010. FMC is a company which benefits from great visibility both on its stable operating activities (Dialysis Services) and on high growth business (Dialysis Products). We remain convinced that an investment in FMC is justified, especially in today’s uncertain environment. PLUS code maintained.
We have given Fresenius Medical Care (FMC) a PLUS code for several reasons: defensive profile with recurring activities that are indispensable for patients; no exposure to patent expiries; little pressure on prices; vertical integration of the company enabling it to exert leverage on each link in the production chain; attractive valuation and growth.
Fresenius Medical Care has announced its results for Q2 2008. The company has confirmed its prospects for 2008 and given forward indications until 2010. FMC is a company which benefits from great visibility both on its stable operating activities (Dialysis Services) and on those which are growing strongly (Dialysis Products). We remain convinced that an investment in FMC makes perfect sense. PLUS code maintained.
Fresenius Medical Care was forced to make an early announcement of its quarterly results following the publication by the parent company Fresenius SE of details concerning the financing of its APP acquisition (via the issue of a bond convertible into FMC shares => reduction of the participation from 36% to 30.5%). The results were more or less in line, except for the operating profit which came in below consensus. We are still convinced that an investment in FMC is well worthwhile. PLUS code confirmed.
Yesterday Fresenius Medical Care (FMC) announced the conclusion of several agreements with Galenica for the sale and distribution of intravenous iron supplements used to prevent anaemia in patients under dialysis. These agreements are very promising and we find the arguments in favour of an investment in FMC particularly convincing. PLUS code confirmed.
Fresenius Medical Care has published robust figures for Q108, in line with market expectations. On the one hand, the numbers have been affected by the higher reimbursement rate in the USA and product sales (dialysis machines) in Europe, and on the other by higher R&D costs. Our investment argument is based essentially on the following points: defensive profile featuring recurring activities. PLUS code maintained.
Fresenius Medical Care has published better than expected results for 2007. The figures for 2007 reflect the stability and recurrence of dialysis business activities: care sales +13% and product sales +18%. The following factors had an adverse impact on sales: 1) EUR/USD exchange rate: -5%; 2) 2% scope of consolidation following asset disposals. Our investment recommendation is based essentially on the defensive profile and recurring business activities. PLUS code maintained.
We are introducing Fresenius Medical Care (FMC) on our list of recommendations with a PLUS code for several reasons: defensive profile with recurring activities that are indispensable for patients; no exposure to patent expiries; little pressure on prices; vertical integration of the company enabling it to exert leverage on each link in the production chain; attractive valuation and growth.
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