Fresenius shares rise on Street-topping Q1

Fresenius (ETR:FRE) saw shares rise today after the medical device maker met expectations on Wall Street with its 1st quarter earnings results.

The Bad Homburg, Germany-based company posted profits of $273.2 million, or 53¢ per share, on sales of $4.8 billion for the 3 months ended March 31, for bottom-line growth of 16.9% while sales grew 13.6% compared with the same period in the previous year.

The company’s adjusted, diluted earnings per share were just ahead of the 52¢ consensus on The Street, where analysts were looking for sales of $4.7 billion.

“We saw a very positive start to the year. While both our dialysis services and products business showed strong growth, our Care Coordination activities confirmed its high growth potential. We are shaping our activities in this area and expect the profitability to improve in the course of the year. We are clearly on track to deliver on our ambitious targets for 2017,” CEO Rice Powell said in a press release.

The company confirmed its full year 2017 outlook, expecting to see revenue grow between 8% and 10%, according to an SEC filing.

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