Fresenius: shares inch down after results.
(CercleFinance.com) - Shares in Fresenius are down 3% on Thursday, making them one of the biggest fallers on Frankfurt's bluechips DAX index, after the company reported its third-quarter results.
The German healthcare conglomerate announced sales that were up 12% at 8.3 billion euros in the past quarter (+15% at constant currencies), while net income increased by 11% to 423 million euros (+14% at constant currencies).
Plus, Fresenius confirmed its guidance for 2017, with group sales still expected to increase by 15% to 17% in constant currency.
However, an analyst monitoring the stock says that Fresenius disappointed on its guidance, with management now seing "the achievement of 2018 expectations challenging" for its US generic unit Akorn.
Fresenius shares were under pressure after these comments, down almost 3% at around 68.6 euros, underperforming the DAX, which down just 0.2 percent.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The German healthcare conglomerate announced sales that were up 12% at 8.3 billion euros in the past quarter (+15% at constant currencies), while net income increased by 11% to 423 million euros (+14% at constant currencies).
Plus, Fresenius confirmed its guidance for 2017, with group sales still expected to increase by 15% to 17% in constant currency.
However, an analyst monitoring the stock says that Fresenius disappointed on its guidance, with management now seing "the achievement of 2018 expectations challenging" for its US generic unit Akorn.
Fresenius shares were under pressure after these comments, down almost 3% at around 68.6 euros, underperforming the DAX, which down just 0.2 percent.
Copyright (c) 2017 CercleFinance.com. All rights reserved.