Bank of Nova Scotia Reduces Holdings in DaVita Inc. (NYSE:DVA)

Bank of Nova Scotia trimmed its stake in DaVita Inc. (NYSE:DVAGet Rating) by 37.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,892 shares of the company’s stock after selling 2,967 shares during the period. Bank of Nova Scotia’s holdings in DaVita were worth $390,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky grew its position in shares of DaVita by 8.1% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 392,458 shares of the company’s stock valued at $44,391,000 after buying an additional 29,494 shares during the last quarter. Allianz Asset Management GmbH grew its position in DaVita by 1.2% during the 1st quarter. Allianz Asset Management GmbH now owns 368,848 shares of the company’s stock worth $41,720,000 after purchasing an additional 4,524 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in DaVita by 8.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 360,981 shares of the company’s stock worth $28,864,000 after purchasing an additional 27,826 shares during the last quarter. Eaton Vance Management grew its position in DaVita by 54.2% during the 1st quarter. Eaton Vance Management now owns 323,077 shares of the company’s stock worth $36,543,000 after purchasing an additional 113,560 shares during the last quarter. Finally, Swiss National Bank grew its position in DaVita by 10.8% during the 1st quarter. Swiss National Bank now owns 286,935 shares of the company’s stock worth $32,455,000 after purchasing an additional 28,000 shares during the last quarter. 88.47% of the stock is owned by hedge funds and other institutional investors.

DaVita Stock Up 1.5 %

Shares of NYSE DVA opened at $70.65 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.26 and a debt-to-equity ratio of 12.63. DaVita Inc. has a 52 week low of $65.28 and a 52 week high of $124.81. The firm has a 50-day moving average price of $83.36 and a 200 day moving average price of $87.55. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00.

DaVita (NYSE:DVAGet Rating) last announced its quarterly earnings data on Friday, October 28th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.77 by ($0.32). DaVita had a net margin of 5.84% and a return on equity of 85.60%. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the business earned $2.36 EPS. The firm’s revenue for the quarter was up .4% on a year-over-year basis. Equities research analysts anticipate that DaVita Inc. will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling at DaVita

In other DaVita news, Director John M. Nehra bought 5,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was purchased at an average cost of $71.14 per share, for a total transaction of $355,700.00. Following the acquisition, the director now owns 15,000 shares of the company’s stock, valued at approximately $1,067,100. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DVA has been the topic of several research reports. StockNews.com initiated coverage on shares of DaVita in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of DaVita from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $97.00 to $72.00 in a research report on Tuesday, November 1st. UBS Group downgraded shares of DaVita from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $117.00 to $74.00 in a research report on Monday, October 31st. Truist Financial reduced their target price on shares of DaVita from $90.00 to $75.00 and set a “hold” rating for the company in a research note on Monday, October 31st. Finally, Barclays reduced their target price on shares of DaVita from $103.00 to $81.00 and set an “equal weight” rating for the company in a research note on Monday, October 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, DaVita has an average rating of “Hold” and an average price target of $81.17.

DaVita Company Profile

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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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Institutional Ownership by Quarter for DaVita (NYSE:DVA)

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