Bank of America Trims DaVita (NYSE:DVA) Target Price to $90.00

Posted by on Jun 21st, 2022

DaVita (NYSE:DVA – Get Rating) had its price target cut by equities researchers at Bank of America from $110.00 to $90.00 in a research note issued on Tuesday, Briefing.com reports. The brokerage presently has an “underperform” rating on the stock. Bank of America‘s price objective indicates a potential upside of 15.12% from the company’s previous close.

Several other brokerages have also recently issued reports on DVA. StockNews.com cut shares of DaVita from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 5th. Truist Financial cut their target price on shares of DaVita from $125.00 to $110.00 in a report on Friday, May 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $125.33.

DVA traded down $11.30 during trading on Tuesday, hitting $78.18. 109,908 shares of the company traded hands, compared to its average volume of 897,351. The firm has a market cap of $7.40 billion, a P/E ratio of 9.32, a price-to-earnings-growth ratio of 1.09 and a beta of 1.14. The stock’s fifty day moving average is $102.64 and its 200 day moving average is $108.56. The company has a quick ratio of 1.25, a current ratio of 1.29 and a debt-to-equity ratio of 8.53. DaVita has a one year low of $87.19 and a one year high of $136.48.

DaVita (NYSE:DVA – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.24). The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.89 billion. DaVita had a net margin of 7.78% and a return on equity of 78.24%. DaVita’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $2.09 earnings per share. On average, equities research analysts forecast that DaVita will post 7.79 EPS for the current fiscal year.

In related news, Director Barbara J. Desoer sold 2,320 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $97.42, for a total transaction of $226,014.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Rothschild Investment Corp IL raised its holdings in DaVita by 0.7% during the 4th quarter. Rothschild Investment Corp IL now owns 13,695 shares of the company’s stock valued at $1,558,000 after buying an additional 100 shares during the period. Empirical Finance LLC raised its holdings in DaVita by 2.0% during the 1st quarter. Empirical Finance LLC now owns 5,660 shares of the company’s stock valued at $640,000 after buying an additional 113 shares during the period. Norinchukin Bank The raised its holdings in DaVita by 2.3% during the 1st quarter. Norinchukin Bank The now owns 5,735 shares of the company’s stock valued at $649,000 after buying an additional 128 shares during the period. Wetherby Asset Management Inc. raised its holdings in DaVita by 7.4% during the 4th quarter. Wetherby Asset Management Inc. now owns 1,896 shares of the company’s stock valued at $216,000 after buying an additional 130 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in DaVita by 3.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,356 shares of the company’s stock worth $496,000 after purchasing an additional 132 shares during the period. 87.47% of the stock is currently owned by institutional investors and hedge funds.

DaVita Company Profile (Get Rating)

DaVita Inc provides kidney dialysis services for patients suffering from chronic kidney failure. The company operates kidney dialysis centers and provides related lab services in outpatient dialysis centers. It also provides outpatient, hospital inpatient, and home-based hemodialysis services; owns clinical laboratories that provide routine laboratory tests for dialysis and other physician-prescribed laboratory tests for ESRD patients; and management and administrative services to outpatient dialysis centers.

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