DaVita (NYSE:DVA) Reaches New 52-Week High on Analyst Upgrade

DaVita Inc. (NYSE:DVA – Get Free Report) shares reached a new 52-week high during trading on Thursday after Truist Financial raised their price target on the stock from $100.00 to $115.00. The company traded as high as $105.35 and last traded at $105.00, with a volume of 38813 shares changing hands. The stock had previously closed at $104.25.

A number of other brokerages have also recently commented on DVA. Sanford C. Bernstein upped their target price on shares of DaVita from $88.00 to $100.00 in a report on Monday, May 15th. TheStreet raised DaVita from a “c” rating to a “b-” rating in a research report on Monday, May 8th. Bank of America boosted their target price on DaVita from $86.00 to $96.00 in a report on Tuesday, May 9th. StockNews.com initiated coverage on DaVita in a report on Thursday, May 18th. They set a “buy” rating for the company. Finally, UBS Group boosted their price objective on shares of DaVita from $91.00 to $100.00 in a research note on Tuesday, May 9th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, DaVita presently has an average rating of “Hold” and an average price target of $98.75.

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Insider Buying and Selling

In related news, Director Phyllis R. Yale sold 2,196 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $95.26, for a total transaction of $209,190.96. Following the completion of the sale, the director now directly owns 13,110 shares of the company’s stock, valued at approximately $1,248,858.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other DaVita news, insider Kathleen Alyce Waters sold 15,941 shares of the stock in a transaction on Wednesday, May 10th. The shares were 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 approximately $9,055,153.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Phyllis R. Yale sold 2,196 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $95.26, for a total transaction of $209,190.96. Following the completion of the sale, the director now directly owns 13,110 shares of the company’s stock, valued at approximately $1,248,858.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,502 shares of company stock valued at $3,722,146. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC grew its stake in DaVita by 29.7% during the 2nd quarter. SG Americas Securities LLC now owns 19,475 shares of the company’s stock worth $1,957,000 after buying an additional 4,458 shares during the last quarter. Radnor Capital Management LLC bought a new stake in DaVita in the 2nd quarter valued at about $452,000. Harvest Fund Management Co. Ltd acquired a new position in DaVita during the 2nd quarter valued at about $235,000. Symmetry Partners LLC bought a new position in DaVita in the 2nd quarter worth about $230,000. Finally, Ontario Teachers Pension Plan Board raised its holdings in shares of DaVita by 4.0% during the first quarter. Ontario Teachers Pension Plan Board now owns 34,668 shares of the company’s stock valued at $2,812,000 after buying an additional 1,340 shares during the last quarter. 83.78% of the stock is owned by institutional investors and hedge funds.

DaVita Stock Performance

The company has a quick ratio of 1.14, a current ratio of 1.18 and a debt-to-equity ratio of 8.25. The firm has a market capitalization of $9.37 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 1.05 and a beta of 0.93. The company has a 50-day moving average price of $98.11 and a 200-day moving average price of $86.98.

DaVita (NYSE:DVA – Get Free Report) last released its earnings results on Monday, May 8th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.08 by $0.50. The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.84 billion. DaVita had a net margin of 4.40% and a return on equity of 72.08%. DaVita’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $1.61 EPS. As a group, equities research analysts forecast that DaVita Inc. will post 6.7 earnings per share for the current year.

About DaVita

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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.

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