DaVita (NYSE:DVA) Sets New 52-Week High on Earnings Beat

DaVita Inc. (NYSE:DVA)’s stock price reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $142.29 and last traded at $141.17, with a volume of 90917 shares trading hands. The stock had previously closed at $139.75.

The company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $3.03 billion. During the same period last year, the firm posted $1.58 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DVA shares. Barclays initiated coverage on DaVita in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $133.00 price objective for the company. UBS Group raised their price objective on shares of DaVita from $113.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. StockNews.com upgraded shares of DaVita from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. TheStreet upgraded shares of DaVita from a “c+” rating to a “b-” rating in a report on Wednesday, February 7th. Finally, Truist Financial upped their price target on DaVita from $130.00 to $135.00 and gave the company a “hold” rating in a report on Tuesday, February 20th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $118.50.

Insider Transactions at DaVita

In related news, CEO Javier Rodriguez sold 67,603 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $126.11, for a total value of $8,525,414.33. Following the completion of the transaction, the chief executive officer now owns 488,697 shares of the company’s stock, valued at approximately $61,629,578.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Kathleen Alyce Waters sold 11,285 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $120.73, for a total value of $1,362,438.05. Following the transaction, the insider now owns 81,297 shares in the company, valued at approximately $9,814,986.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Javier Rodriguez sold 67,603 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $126.11, for a total transaction of $8,525,414.33. Following the completion of the sale, the chief executive officer now directly owns 488,697 shares of the company’s stock, valued at $61,629,578.67. The disclosure for this sale can be found here. Insiders have sold a total of 134,540 shares of company stock valued at $16,551,071 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. increased its stake in shares of DaVita by 3.9% in the first quarter. First Trust Direct Indexing L.P. now owns 2,590 shares of the company’s stock worth $358,000 after acquiring an additional 98 shares during the last quarter. State of Michigan Retirement System increased its position in DaVita by 0.6% in the 4th quarter. State of Michigan Retirement System now owns 15,939 shares of the company’s stock worth $1,670,000 after purchasing an additional 100 shares during the last quarter. Quent Capital LLC raised its stake in shares of DaVita by 21.0% during the 1st quarter. Quent Capital LLC now owns 581 shares of the company’s stock worth $80,000 after purchasing an additional 101 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of DaVita by 18.8% during the 1st quarter. GAMMA Investing LLC now owns 657 shares of the company’s stock valued at $91,000 after buying an additional 104 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of DaVita by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 24,503 shares of the company’s stock valued at $2,316,000 after buying an additional 123 shares in the last quarter. Institutional investors and hedge funds own 90.12% of the company’s stock.

DaVita Stock Down 5.5 %

The stock has a market cap 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 has a fifty day moving average of $133.52 and a 200 day moving average of $112.17. The company has a debt-to-equity ratio of 6.65, a current ratio of 1.19 and a quick ratio of 1.13.

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.