Zacks Research Brokers Boost Earnings Estimates for DaVita Inc. (NYSE:DVA)

DaVita Inc. (NYSE:DVA – Get Rating) – Zacks Research lifted their Q3 2023 EPS estimates for shares of DaVita in a report released on Monday, May 22nd. Zacks Research analyst D. Dey now forecasts that the company will earn $1.80 per share for the quarter, up from their previous forecast of $1.77. The consensus estimate for DaVita’s current full-year earnings is $6.72 per share. Zacks Research also issued estimates for DaVita’s Q1 2024 earnings at $1.50 EPS, Q4 2024 earnings at $1.99 EPS, Q1 2025 earnings at $1.75 EPS and FY2025 earnings at $8.44 EPS.

DaVita (NYSE:DVA – Get Rating) last released its quarterly earnings data on Monday, May 8th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.08 by $0.50. DaVita had a net margin of 4.40% and a return on equity of 72.08%. The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the firm earned $1.61 EPS. The business’s revenue was up 2.0% on a year-over-year basis.

Several other analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of DaVita from $85.00 to $113.00 in a research report on Tuesday, May 9th. Truist Financial upped their target price on shares of DaVita from $90.00 to $100.00 in a research report on Tuesday, May 9th. StockNews.com assumed coverage on shares of DaVita in a research report on Thursday, May 18th. They set a “buy” rating on the stock. UBS Group upped their target price on shares of DaVita from $91.00 to $100.00 in a research report on Tuesday, May 9th. Finally, Sanford C. Bernstein upped their target price on shares of DaVita from $88.00 to $100.00 in a research report on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $96.88.

DaVita Stock Down 1.3 %

DVA opened at $95.06 on Thursday. The firm has a 50-day simple moving average of $86.99 and a two-hundred day simple moving average of $80.54. DaVita has a 52 week low of $65.28 and a 52 week high of $103.00. The company has a market capitalization of $8.62 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. The company has a quick ratio of 1.14, a current ratio of 1.18 and a debt-to-equity ratio of 8.25.

Institutional Investors Weigh In On DaVita

Institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James & Associates raised its holdings in shares of DaVita by 4.0% during the first quarter. Raymond James & Associates now owns 22,651 shares of the company’s stock worth $2,562,000 after purchasing an additional 865 shares during the last quarter. American Century Companies Inc. grew its position in shares of DaVita by 37.4% in the first quarter. American Century Companies Inc. now owns 6,555 shares of the company’s stock valued at $741,000 after purchasing an additional 1,785 shares during the period. US Bancorp DE grew its position in shares of DaVita by 63.6% in the first quarter. US Bancorp DE now owns 2,998 shares of the company’s stock valued at $338,000 after purchasing an additional 1,166 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of DaVita by 7.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,551 shares of the company’s stock valued at $402,000 after purchasing an additional 242 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in DaVita by 847.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,090 shares of the company’s stock worth $123,000 after acquiring an additional 975 shares during the last quarter. 86.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Javier Rodriguez sold 16,916 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $99.44, for a total value of $1,682,127.04. Following the sale, the chief executive officer now directly owns 315,622 shares of the company’s stock, valued at approximately $31,385,451.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Javier Rodriguez sold 16,916 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $99.44, for a total transaction of $1,682,127.04. Following the transaction, the chief executive officer now directly owns 315,622 shares of the company’s stock, valued at $31,385,451.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kathleen Alyce Waters sold 15,941 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $99.24, for a total transaction of $1,581,984.84. Following the transaction, the insider now directly owns 91,245 shares in the company, valued at $9,055,153.80. The disclosure for this sale can be found here. Insiders have sold 39,668 shares of company stock valued at $3,889,765 in the last ninety days. 1.00% of the stock is owned by company insiders.

About DaVita

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DaVita, Inc engages in the provision of medical care services. It operates through the following two segments: US Dialysis and Related Lab Services, and Other-Ancillary Services and Strategic Initiatives. The US Dialysis and Related Lab Services segment offers kidney dialysis services in the United States for patients suffering from chronic kidney failure.