DaVita (NYSE:DVA) Issues Earnings Results

DaVita (NYSE:DVA) released its earnings results on Tuesday. The company reported $2.59 earnings per share for the quarter, missing the consensus estimate of $2.76 by ($0.17), Briefing.com reports. DaVita had a return on equity of 77.00% and a net margin of 6.86%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the previous year, the firm posted $2.85 EPS. DaVita’s revenue for the quarter was up 4.6% on a year-over-year basis. DaVita updated its FY24 guidance to $9.25-$10.05 EPS and its FY 2024 guidance to 9.250-10.050 EPS.

DaVita Stock Performance

Shares of DVA stock traded down $17.37 during trading hours on Wednesday, reaching $140.94. The stock had a trading volume of 1,983,759 shares, compared to its average volume of 810,950. The firm has a market capitalization of $11.82 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 0.90 and a beta of 0.87. The firm has a 50-day simple moving average of $158.40 and a 200-day simple moving average of $146.05. DaVita has a twelve month low of $76.17 and a twelve month high of $168.50. The company has a debt-to-equity ratio of 9.94, a current ratio of 1.16 and a quick ratio of 1.12.

Insider Buying and Selling at DaVita

In other DaVita news, CEO Javier Rodriguez sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $165.05, for a total value of $8,252,500.00. Following the sale, the chief executive officer now owns 837,835 shares in the company, valued at approximately $138,284,666.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other DaVita news, CFO Joel Ackerman sold 64,029 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $155.06, for a total transaction of $9,928,336.74. Following the transaction, the chief financial officer now owns 111,481 shares of the company’s stock, valued at approximately $17,286,243.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Javier Rodriguez sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $165.05, for a total transaction of $8,252,500.00. Following the completion of the sale, the chief executive officer now directly owns 837,835 shares of the company’s stock, valued at approximately $138,284,666.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 173,482 shares of company stock valued at $27,387,069 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on DVA shares. TD Cowen increased their target price on DaVita from $139.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Truist Financial boosted their target price on shares of DaVita from $165.00 to $175.00 and gave the company a “hold” rating in a research note on Monday, October 7th. UBS Group raised their price target on shares of DaVita from $169.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Bank of America boosted their price objective on shares of DaVita from $139.00 to $145.00 and gave the company an “underperform” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, DaVita currently has a consensus rating of “Hold” and a consensus target price of $159.00.

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.