Fresenius Medical Care stock falls 1.98 percent after downgrade

Published on 09/29/2026 at 12:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Berenberg cut its FMC target from EUR 60.00 to EUR 42.00 on September 29, 2026. FMC stock stood at EUR 39.68, minus 1.98 percent versus Xetra.

Moderner Dialyseraum mit Hämodialysegeräten und Patientenliegen bei Tageslicht — Ein fotorealistisches Bild eines modernen Dialyseraums mit mehreren Hämodialysegeräten und Patientenliegen in Reihe, ruhigem Tageslicht durch große Fenster – typisch für die Behandlungszentren von Fresenius Medical Care AG (ISIN DE0005785802), Illustration mit AI erstellt.

Fresenius Medical Care (ISIN DE0005785802) was trading at EUR 39.68 at Lang & Schwarz on September 29, 2026, at 12:45 p.m. CEST, down 1.98 percent versus the Xetra close of EUR 40.48 on September 28, 2026. The move followed a fresh Berenberg downgrade that puts U.S. treatment volumes at the center of the investment debate.

Berenberg cuts target to EUR 42

According to TradingView on September 29, 2026, Berenberg downgraded Fresenius Medical Care from Buy to Hold and cut its price target from EUR 60.00 to EUR 42.00.

The target reduction is material: EUR 42.00 stands 5.85 percent above the Lang & Schwarz price of EUR 39.68. Berenberg said U.S. treatment volumes had deteriorated during 2026 after being flat in 2025, making volume recovery an important condition for a stronger earnings outlook.

Operating income rises 34 percent

Fresenius Medical Care's latest investor update covers the second quarter of 2026, reported on August 3, 2026. According to Fresenius Medical Care, underlying operating income increased 34 percent in the first half of 2026 after adjustment for positive TDAPA effects and revenue cycle management benefits.

The same investor update states that the 5008X CAREsystem had reached 227 U.S. clinics and had been used in more than 600,000 treatments by the reporting date. Fresenius Medical Care also confirmed its 2026 outlook, giving the Berenberg downgrade a clear operational counterpoint.

Stock trades below EUR 40

Fresenius Medical Care was trading at EUR 39.68 at Lang & Schwarz on September 29, 2026, at 12:45 p.m. CEST. The reference is EUR 40.48, the Xetra close on September 28, 2026, which leaves the daily change at minus 1.98 percent.