Bank of America Securities analyst Anna Ractliffe reiterated a Sell rating on Fresenius Medical Care AG & Co. KGaA today and set a price target of €32.00.
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Anna Ractliffe has given his Sell rating due to a combination of factors linked to Fresenius Medical Care’s operating outlook and growth visibility. U.S. same‑market treatment growth is being held back by the ongoing closure of dialysis clinics, which is limiting new patient inflows and causing some patients to shift to competitors, and management only guides to flat U.S. treatment growth for 2026, a key sentiment driver for the stock.
In addition, margins are under pressure from the high‑volume hemodiafiltration rollout, higher IT spending, and reimbursement changes under TDAPA, while the ultimate impact of ACA‑related headwinds remains uncertain until later in the year. Although buybacks remain an important part of capital allocation, Ractliffe sees a cluster of EBIT headwinds continuing into 2027 and believes this makes sustained margin expansion difficult, which justifies maintaining a Sell rating and leaving the €32 price target unchanged.
According to TipRanks, Ractliffe is a 2-star analyst with an average return of 6.1% and an 88.89% success rate.
In another report released on May 6, UBS also maintained a Sell rating on the stock with a €37.00 price target.