Fresenius Medical Care Posting Steep Loss After Cutting Full-Year Guidance

(RTTNews) - Shares of Fresenius Medical Care (FMS) continue to see substantial weakness in afternoon trading on Wednesday after gapping open sharply lower. After hitting its lowest intraday level in well over a year, Fresenius is currently down by 17.1 percent.

The initial sell-off by Fresenius came after the medical supplies company lowered its full-year guidance due in part to weaker than expected dialysis services business in the third quarter.

Fresenius said it now expects full-year net income to grow by 11 to 12 percent compared to its previous forecast for 13 to 15 percent growth.