DaVita (NYSE:DVA) Releases Earnings Results, Beats Estimates By $0.06 EPS

DaVita (NYSE:DVA) posted its earnings results on Monday. The company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.34 by $0.06, FiscalAI reports. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.51 billion. DaVita had a net margin of 5.80% and a negative return on equity of 13,370.89%.

DaVita Trading Up 1.7%

NYSE:DVA traded up $1.87 on Monday, hitting $111.21. The company’s stock had a trading volume of 2,291,733 shares, compared to its average volume of 952,373. DaVita has a one year low of $101.00 and a one year high of $178.47. The firm has a market capitalization of $7.85 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 0.67 and a beta of 0.99. The stock has a fifty day moving average of $113.59 and a two-hundred day moving average of $125.09.

Hedge Funds Weigh In On DaVita

Several large investors have recently modified their holdings of DVA. Canada Pension Plan Investment Board bought a new position in DaVita in the 2nd quarter valued at about $43,000. iSAM Funds UK Ltd bought a new position in DaVita during the 3rd quarter worth $46,000. NewEdge Advisors LLC lifted its holdings in shares of DaVita by 20.8% during the first quarter. NewEdge Advisors LLC now owns 511 shares of the company’s stock worth $78,000 after buying an additional 88 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of DaVita in the third quarter valued at about $115,000. Finally, Kestra Private Wealth Services LLC acquired a new position in shares of DaVita during the 3rd quarter worth approximately $203,000. 90.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Truist Financial cut their price target on shares of DaVita from $140.00 to $128.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of DaVita in a report on Monday, December 29th. Wall Street Zen lowered shares of DaVita from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. TD Cowen reaffirmed a “hold” rating on shares of DaVita in a research note on Monday, November 3rd. Finally, Zacks Research raised DaVita from a “strong sell” rating to a “hold” rating in a research note on Friday, November 28th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $145.60.

About DaVita

DaVita Inc (NYSE: DVA) is a leading provider of kidney care services, specializing in the management and operation of outpatient dialysis centers for patients with chronic kidney failure and end-stage renal disease. Headquartered in Denver, Colorado, the company offers a comprehensive suite of treatment modalities, including in-center hemodialysis, peritoneal dialysis, and home dialysis therapies. In addition to its core dialysis services, DaVita provides patient education, nutritional counseling, vascular access management and related laboratory services to support kidney health and overall patient well-being.

Since its formation in the mid-1990s through a clinical management services spin-off, DaVita has expanded both organically and through strategic partnerships and acquisitions.