DaVita (NYSE:DVA) Issues Quarterly Earnings Results, Misses Estimates By $0.17 EPS

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 business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter last year, the company posted $2.85 earnings per share. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. 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 10.7 %

Shares of NYSE:DVA traded down $16.97 during midday trading on Wednesday, hitting $141.34. 2,184,180 shares of the company’s stock traded hands, compared to its average volume of 811,344. The firm’s fifty day moving average price is $158.40 and its two-hundred day moving average price is $146.05. The company has a debt-to-equity ratio of 9.94, a quick ratio of 1.12 and a current ratio of 1.16. DaVita has a twelve month low of $76.17 and a twelve month high of $168.50. The company has a market cap of $11.86 billion, a PE ratio of 15.67, a P/E/G ratio of 0.90 and a beta of 0.87.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DVA. Truist Financial raised their target price on shares of DaVita from $165.00 to $175.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. UBS Group lifted their price target on shares of DaVita from $169.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, August 8th. TD Cowen upped their price objective on DaVita from $139.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Finally, Bank of America lifted their target price on DaVita from $139.00 to $145.00 and gave the company an “underperform” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $159.00.

Insider Activity at DaVita

In related news, CEO Javier Rodriguez sold 32,176 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $155.93, for a total transaction of $5,017,203.68. Following the sale, the chief executive officer now directly owns 905,659 shares in the company, valued at approximately $141,219,407.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Javier Rodriguez sold 32,176 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $155.93, for a total transaction of $5,017,203.68. Following the completion of the sale, the chief executive officer now directly owns 905,659 shares of the company’s stock, valued at approximately $141,219,407.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kathleen Alyce Waters sold 7,857 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $146.21, for a total transaction of $1,148,771.97. Following the completion of the transaction, the insider now owns 83,011 shares in the company, valued at $12,137,038.31. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 173,482 shares of company stock worth $27,387,069. Corporate 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.