8 Knots Management LLC Sells 487,340 Shares of DaVita Inc. $DVA

Key Points

• 8 Knots Management LLC has significantly reduced its stake in DaVita Inc. by selling 487,340 shares, representing a 71.6% decrease in ownership during the first quarter.
• DaVita reported $2.95 earnings per share for the last quarter, exceeding analysts' expectations, and had revenue figures surpassing projections with a 6.1% year-over-year increase.
• Institutional investors currently own 90.12% of DaVita's stock, reflecting strong interest from large investment firms.

8 Knots Management LLC reduced its stake in DaVita Inc. (NYSE:DVA - Free Report) by 71.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 193,542 shares of the company's stock after selling 487,340 shares during the period. DaVita comprises approximately 3.7% of 8 Knots Management LLC's investment portfolio, making the stock its 11th largest position. 8 Knots Management LLC owned 0.25% of DaVita worth $29,606,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp boosted its stake in shares of DaVita by 5.0% in the 1st quarter. Fifth Third Bancorp now owns 4,274 shares of the company's stock valued at $654,000 after purchasing an additional 204 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of DaVita in the 1st quarter valued at approximately $223,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of DaVita by 22.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,351 shares of the company's stock valued at $666,000 after purchasing an additional 800 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of DaVita by 7.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 55,255 shares of the company's stock valued at $8,452,000 after purchasing an additional 4,048 shares in the last quarter. Finally, OneDigital Investment Advisors LLC bought a new position in DaVita in the 1st quarter valued at approximately $200,000. 90.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on DVA. Barclays dropped their price objective on shares of DaVita from $169.00 to $160.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. Wall Street Zen upgraded shares of DaVita from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Finally, Truist Financial set a $148.00 price objective on shares of DaVita in a report on Friday, August 8th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $164.00.

DaVita Trading Up 1.6%

DaVita stock traded up $2.16 during mid-day trading on Friday, hitting $137.72. 659,996 shares of the stock were exchanged, compared to its average volume of 686,564. The company has a quick ratio of 1.34, a current ratio of 1.39 and a debt-to-equity ratio of 23.18. DaVita Inc. has a 12 month low of $126.07 and a 12 month high of $179.60. The firm's fifty day simple moving average is $139.40 and its two-hundred day simple moving average is $141.94. The stock has a market capitalization of $9.85 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 0.97 and a beta of 1.13.

DaVita (NYSE:DVA - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.25. DaVita had a net margin of 6.35% and a return on equity of 369.39%. The firm had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter last year, the business earned $2.00 EPS. The company's revenue was up 6.1% compared to the same quarter last year. DaVita has set its FY 2025 guidance at 10.200-11.300 EPS. Analysts forecast that DaVita Inc. will post 10.76 EPS for the current year.

Insider Buying and Selling at DaVita

In other news, insider James O. Hearty sold 2,351 shares of DaVita stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $150.00, for a total value of $352,650.00. Following the completion of the sale, the insider owned 26,038 shares in the company, valued at $3,905,700. The trade was a 8.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.50% of the stock is owned by corporate insiders.

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.