Analyst Anna Ractliffe from Bank of America Securities reiterated a Sell rating on Fresenius Medical Care AG & Co. KGaA and decreased the price target to €35.00 from €38.00.
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Anna Ractliffe has given her Sell rating due to a combination of factors impacting Fresenius Medical Care AG & Co. KGaA. The MedTech sector has experienced a continued derating, with a notable decline in 2025 due to sector rotation, softer demand, and company-specific challenges. Growth rates have slowed compared to pre-COVID levels, and the rising capital intensity presents additional concerns. Despite some potential benefits from lower interest rates, the market remains cautious, particularly with stocks that have overly ambitious expectations.
Furthermore, the company faces persistent headwinds into 2026, including tariffs, volume-based procurement (VBP), and foreign exchange impacts, which are expected to continue affecting margins. Although some mitigation measures are anticipated, these factors contribute to a cautious outlook. The price objective for Fresenius Medical Care has been lowered to €35 from €38, reflecting a more conservative valuation approach given the ongoing risks and lack of near-term margin expansion drivers.
According to TipRanks, Ractliffe is ranked #5230 out of 10128 analysts.
In another report released on December 8, J.P. Morgan also maintained a Sell rating on the stock with a €37.40 price target.