DaVita (NYSE:DVA) Hits New 52-Week High Following Strong Earnings

Posted by on Aug 5th, 2023

Shares of DaVita Inc. (NYSE:DVA – Get Free Report) hit a new 52-week high during trading on Friday following a better than expected earnings announcement. The stock traded as high as $108.21 and last traded at $107.87, with a volume of 164138 shares traded. The stock had previously closed at $101.56.

The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.42. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.95 billion. DaVita had a return on equity of 72.08% and a net margin of 4.40%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.30 earnings per share.

Analyst Ratings Changes

A number of brokerages recently issued reports on DVA. Bank of America boosted their price target on DaVita from $86.00 to $96.00 in a report on Tuesday, May 9th. StockNews.com began coverage on DaVita in a report on Thursday, May 18th. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft boosted their price target on DaVita from $85.00 to $113.00 in a report on Tuesday, May 9th. TheStreet upgraded DaVita from a “c” rating to a “b-” rating in a report on Monday, May 8th. Finally, UBS Group boosted their price target on DaVita from $91.00 to $100.00 in a report on Tuesday, May 9th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $98.75.

Insiders Place Their Bets

In other news, Director Barbara J. Desoer sold 2,449 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $101.61, for a total transaction of $248,842.89. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Barbara J. Desoer sold 2,449 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $101.61, for a total transaction of $248,842.89. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kathleen Alyce Waters sold 15,941 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $99.24, for a total value 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 sold a total of 37,502 shares of company stock worth $3,722,146 over the last 90 days. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On DaVita

A number of large investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of DaVita in the 4th quarter valued at $116,373,000. Amundi increased its position in shares of DaVita by 226.3% in the 4th quarter. Amundi now owns 659,372 shares of the company’s stock valued at $52,592,000 after acquiring an additional 457,285 shares during the period. Wedge Capital Management L L P NC increased its position in shares of DaVita by 6,031.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 366,813 shares of the company’s stock valued at $36,854,000 after acquiring an additional 360,831 shares during the period. Morgan Stanley increased its position in shares of DaVita by 37.9% in the 4th quarter. Morgan Stanley now owns 1,232,647 shares of the company’s stock valued at $92,042,000 after acquiring an additional 339,051 shares during the period. Finally, Point72 Asset Management L.P. increased its position in shares of DaVita by 912.4% in the 4th quarter. Point72 Asset Management L.P. now owns 338,139 shares of the company’s stock valued at $25,249,000 after acquiring an additional 304,739 shares during the period. 83.78% of the stock is owned by institutional investors and hedge funds.

DaVita Stock Performance

The company has a current ratio of 1.18, a quick ratio of 1.14 and a debt-to-equity ratio of 8.25. The firm has a 50-day moving average of $100.25 and a 200-day moving average of $89.90. The stock has a market capitalization of $9.87 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 1.04 and a beta of 0.94.

DaVita Company Profile

(Get Free Report)

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.

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