DaVita (NYSE:DVA) Issues Earnings Results

DaVita (NYSE:DVA) announced its quarterly earnings results on Tuesday. The company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.12, Briefing.com reports. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. DaVita had a net margin of 6.61% and a return on equity of 68.52%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.08 earnings per share. DaVita updated its FY24 guidance to $9.25-10.05 EPS and its FY 2024 guidance to 9.250-10.050 EPS.

DaVita Stock Down 2.1 %

Shares of NYSE DVA traded down $2.89 on Wednesday, hitting $134.10. The company had a trading volume of 1,431,806 shares, compared to its average volume of 839,302. The company has a quick ratio of 1.37, a current ratio of 1.43 and a debt-to-equity ratio of 7.95. DaVita has a 12-month low of $71.51 and a 12-month high of $147.93. The firm has a market capitalization of $11.76 billion, a P/E ratio of 15.24, a PEG ratio of 1.07 and a beta of 0.87. The business has a 50 day moving average of $140.27 and a two-hundred day moving average of $133.04.

Analyst Ratings Changes

A number of brokerages recently issued reports on DVA. Barclays lifted their target price on shares of DaVita from $133.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Monday, May 6th. StockNews.com lowered DaVita from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 8th. TD Cowen raised their price target on DaVita from $139.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Bank of America lifted their price target on DaVita from $139.00 to $145.00 and gave the company an “underperform” rating in a report on Wednesday. Finally, Truist Financial raised their target price on shares of DaVita from $135.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $145.80.

Insider Activity at DaVita

In other DaVita news, Director Barbara J. Desoer sold 5,030 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $138.81, for a total value of $698,214.30. Following the completion of the sale, the director now owns 10,954 shares of the company’s stock, valued at $1,520,524.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.00% of the company’s stock.

DaVita Company Profile

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.