Assenagon Asset Management S.A. Cuts Stake in DaVita Inc. $DVA

Key Points

• Assenagon Asset Management S.A. reduced its stake in DaVita Inc. by 75.4%, now holding only 3,334 shares worth approximately $475,000.
• GAMMA Investing LLC made a substantial increase to its holdings in DaVita, raising its stake by 14,695.8% during Q1, resulting in ownership of 234,809 shares valued at $35.9 million.
• Wall Street analysts have mixed views on DaVita, with price targets ranging from $140 to $160 and varying ratings from Hold to Underperform.

Assenagon Asset Management S.A. lowered its holdings in shares of DaVita Inc. (NYSE:DVA - Free Report) by 75.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,334 shares of the company's stock after selling 10,196 shares during the quarter. Assenagon Asset Management S.A.'s holdings in DaVita were worth $475,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in DaVita by 14,695.8% during the first quarter. GAMMA Investing LLC now owns 234,809 shares of the company's stock valued at $35,919,000 after buying an additional 233,222 shares during the last quarter. Doma Perpetual Capital Management LLC boosted its stake in DaVita by 172.3% during the first quarter. Doma Perpetual Capital Management LLC now owns 288,360 shares of the company's stock valued at $44,110,000 after buying an additional 182,476 shares during the last quarter. Northern Trust Corp boosted its stake in DaVita by 20.2% during the first quarter. Northern Trust Corp now owns 890,632 shares of the company's stock valued at $136,240,000 after buying an additional 149,858 shares during the last quarter. Nuveen LLC bought a new position in DaVita during the first quarter valued at approximately $20,218,000. Finally, Rovin Capital UT ADV bought a new position in DaVita during the first quarter valued at approximately $18,442,000. Hedge funds and other institutional investors own 90.12% of the company's stock.

Wall Street Analyst Weigh In

DVA has been the subject of a number of research reports. Barclays dropped their price target on DaVita from $169.00 to $160.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. Truist Financial set a $148.00 price objective on DaVita in a research note on Friday, August 8th. Wall Street Zen raised DaVita from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Finally, Bank of America lowered their price objective on DaVita from $145.00 to $140.00 and set an "underperform" rating for the company in a research note on Wednesday, September 10th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, DaVita has an average rating of "Reduce" and an average target price of $158.00.

Insider Buying and Selling

In other DaVita news, insider James O. Hearty sold 2,351 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $150.00, for a total transaction of $352,650.00. Following the transaction, the insider directly owned 26,038 shares in the company, valued at $3,905,700. This trade represents a 8.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.50% of the stock is owned by insiders.

DaVita Price Performance

Shares of DVA stock opened at $131.08 on Monday. DaVita Inc. has a 52-week low of $126.07 and a 52-week high of $179.60. The company has a debt-to-equity ratio of 23.18, a quick ratio of 1.34 and a current ratio of 1.39. The firm has a market capitalization of $9.37 billion, a P/E ratio of 12.89, a P/E/G ratio of 0.94 and a beta of 1.13. The stock has a 50 day moving average price of $136.16 and a 200 day moving average price of $140.53.

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

DaVita 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.

Want to see what other hedge funds are holding DVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DaVita Inc. (NYSE:DVA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.