Berenberg cuts target for Fresenius Medical Care stock to EUR 42.00

Published on 10/07/2026 at 10:08 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fresenius Medical Care stock costs EUR 40.27 on October 7, 2026 after EUR 39.93. Buyback reached 9,055,265 shares. Results are due November 3, 2026.

Isometrische Grafik der Behandlungskette von Zuhause über Klinik bis Nachsorge — Isometrische 3D-Grafik illustriert Behandlungskette der Versorgung, symbolisch für Fresenius Medical Care AG DE0005785802 mit Klinik, Illustration mit AI erstellt.

Fresenius Medical Care (ISIN DE0005785802) was trading at EUR 40.27 at Lang & Schwarz on October 7, 2026 at 10:03 a.m. CEST, up 0.85 percent from the EUR 39.93 prior close. In a note dated September 28, 2026, Berenberg cut its price target from EUR 60.00 to EUR 42.00 and downgraded the stock from Buy to Hold, as reported by finanzen.ch.

Berenberg resets the target

The new EUR 42.00 target lies 4.30 percent above the Lang & Schwarz price of EUR 40.27. Berenberg analyst Harry Gillis cited the need to restart the US kidney care treatment engine and pointed to the continuing overhang from Fresenius's stake, according to finanzen.ch.

Markets Insider reported on September 29, 2026 that Berenberg saw limited visibility on positive US treatment growth and expected a 12.00 percent 2030 margin, below management's mid-teens ambition. The comparison makes operating execution the central valuation test after the target reduction.

Operating result improves 34.00 percent

Fresenius Medical Care said its underlying operating result improved 34.00 percent in the first half of 2026 after adjusting for positive TDAPA effects. Care Delivery delivered robust operating-result growth, while higher reimbursement rates and revenue cycle management supported the performance, according to the company's investor-relations page.

The same update said the 5008X CAREsystem was available in 227 US clinics and had been used in more than 600,000 treatments. Fresenius Medical Care also confirmed its 2026 outlook, making the first-half operating trend and the US treatment rollout the key counters to Berenberg's cautious assessment.

Buyback and November reporting date

Fresenius Medical Care had acquired 9,055,265 shares in the first tranche of its 2026/2027 buyback program by the week of September 21, 2026. The official buyback page lists 71,090 shares purchased between September 21 and September 25, including 40,000 shares on September 23, 2026.

The first tranche is planned to end on December 15, 2026, while the company's third-quarter 2026 reporting is scheduled for November 3, 2026. That date gives the market a defined checkpoint for testing whether the 34.00 percent first-half operating improvement is carrying into the second half.

FMC quote gains 0.85 percent

At Lang & Schwarz, the stock was trading at EUR 40.27 on October 7, 2026 at 10:03 a.m. CEST, up 0.85 percent versus the EUR 39.93 prior close dated October 6, 2026. The primary German listing is on the Frankfurt Stock Exchange, where Fresenius Medical Care is included in the DAX.

The further course of trading is shown by the continuously updated real-time quote of Fresenius Medical Care stock.