DaVita (NYSE:DVA) Sets New 1-Year High on Earnings Beat

DaVita Inc. (NYSE:DVA) hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $142.29 and last traded at $141.17, with a volume of 90917 shares changing hands. The stock had previously closed at $139.75.

The company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.43. DaVita had a net margin of 6.61% and a return on equity of 66.59%. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter last year, the firm earned $1.58 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year.

Analyst Upgrades and Downgrades

DVA has been the subject of several recent research reports. StockNews.com raised DaVita from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Barclays initiated coverage on shares of DaVita in a report on Wednesday, March 6th. They set an “equal weight” rating and a $133.00 target price on the stock. UBS Group increased their price target on shares of DaVita from $113.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. TheStreet upgraded shares of DaVita from a “c+” rating to a “b-” rating in a research note on Wednesday, February 7th. Finally, Truist Financial lifted their price target on DaVita from $130.00 to $135.00 and gave the stock a “hold” rating in a report on Tuesday, February 20th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, DaVita currently has an average rating of “Moderate Buy” and an average target price of $118.50.

Insider Buying and Selling

In other DaVita news, insider James O. Hearty sold 26,164 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $119.64, for a total value of $3,130,260.96. Following the transaction, the insider now directly owns 20,264 shares of the company’s stock, valued at approximately $2,424,384.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Michael David Staffieri sold 29,488 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $119.81, for a total value of $3,532,957.28. Following the transaction, the chief operating officer now directly owns 37,687 shares in the company, valued at $4,515,279.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James O. Hearty sold 26,164 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $119.64, for a total transaction of $3,130,260.96. Following the transaction, the insider now directly owns 20,264 shares in the company, valued at $2,424,384.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,540 shares of company stock valued at $16,551,071. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Deutsche Bank AG boosted its stake in shares of DaVita by 421.8% in the third quarter. Deutsche Bank AG now owns 1,095,081 shares of the company’s stock valued at $103,518,000 after buying an additional 885,195 shares during the period. 8 Knots Management LLC acquired a new stake in shares of DaVita during the 4th quarter worth $89,504,000. Doma Perpetual Capital Management LLC bought a new position in shares of DaVita in the fourth quarter worth $53,076,000. Norges Bank acquired a new position in DaVita in the fourth quarter valued at about $36,626,000. Finally, Invesco Ltd. lifted its position in DaVita by 21.3% during the third quarter. Invesco Ltd. now owns 1,667,255 shares of the company’s stock worth $157,606,000 after purchasing an additional 292,767 shares during the period. Institutional investors and hedge funds own 90.12% of the company’s stock.

DaVita Price Performance

The company has a quick ratio of 1.13, a current ratio of 1.19 and a debt-to-equity ratio of 6.65. The stock has a market capitalization of $11.79 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.27 and a beta of 1.04. The business’s 50 day simple moving average is $133.52 and its 200-day simple moving average is $112.17.

About DaVita

DaVita Inc provides kidney dialysis services for patients suffering from chronic kidney failure in the United States. The company operates kidney dialysis centers and provides related lab services in outpatient dialysis centers. It also offers outpatient, hospital inpatient, and home-based hemodialysis services; operates 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.