FMS - Why Fresenius Medical Care Might Outperform DaVita
Fresenius' rare underperformance of DaVita
Four months ago, I covered on this site Fresenius Medical Care's (FMS) H1/19 results and came to the conclusion that the company was about fairly valued, despite the recent steep fall of its shares.
In fact, the stock has roughly performed in-line with the S&P 500 since then, returning 13% vs. 12% of the index.
However, in the meantime, despite no really exciting news and much larger exposure to the difficult U.S. market, Fresenius' competitor DaVita (DVA) has rallied strongly. As noted in my Q3/19 review