DaVita (NYSE:DVA) Announces 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 (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same period in the previous year, the firm earned $2.85 earnings per share. DaVita’s revenue 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 Down 11.0 %

Shares of DaVita stock traded down $17.37 during midday trading on Wednesday, hitting $140.94. The company’s stock had a trading volume of 1,983,759 shares, compared to its average volume of 810,950. DaVita has a 1-year low of $76.17 and a 1-year high of $168.50. The company has a quick ratio of 1.12, a current ratio of 1.16 and a debt-to-equity ratio of 9.94. The firm has a market capitalization of $11.82 billion, a P/E ratio of 15.67, a PEG ratio of 0.90 and a beta of 0.87. The stock has a 50-day simple moving average of $158.40 and a 200-day simple moving average of $146.05.

Insider Activity at DaVita

In other DaVita news, CEO Javier Rodriguez sold 50,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $138,284,666.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other DaVita news, CEO Javier Rodriguez sold 50,000 shares of the 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 completion of the sale, the chief executive officer now owns 837,835 shares in the company, valued at $138,284,666.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joel Ackerman sold 64,029 shares of DaVita stock in a transaction on 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 sale, the chief financial officer now directly owns 111,481 shares of the company’s stock, valued at $17,286,243.86. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 173,482 shares of company stock valued at $27,387,069. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

DVA has been the topic of several recent research reports. UBS Group lifted their price objective on shares of DaVita from $169.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Bank of America increased their price objective on DaVita from $139.00 to $145.00 and gave the company an “underperform” rating in a research report on Wednesday, August 7th. Truist Financial raised their price objective on DaVita from $165.00 to $175.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Finally, TD Cowen upped their target price on DaVita from $139.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $159.00.

About DaVita

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.