CCM Investment Group LLC Takes $704,000 Position in DaVita Inc. (NYSE:DVA)

Key Points

• CCM Investment Group LLC acquired a new position in DaVita Inc. by purchasing 4,684 shares, valued at around $704,000, during the first quarter of the year.
• DaVita's recent earnings report showed impressive results, with earnings per share of $2.95, surpassing estimates, and a year-over-year revenue increase of 6.1% to $3.38 billion.
• The stock has experienced volatility, with a 12-month trading range between $126.07 and $179.60, while currently marking a modest rise of 1.5%.

CCM Investment Group LLC acquired a new stake in shares of DaVita Inc. (NYSE:DVA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,684 shares of the company's stock, valued at approximately $704,000.

Several other institutional investors have also modified their holdings of DVA. UMB Bank n.a. lifted its holdings in shares of DaVita by 65.5% during the 1st quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $29,000 after purchasing an additional 76 shares in the last quarter. Copia Wealth Management acquired a new position in shares of DaVita during the 4th quarter worth approximately $30,000. Y.D. More Investments Ltd acquired a new position in shares of DaVita during the 1st quarter worth approximately $35,000. Coppell Advisory Solutions LLC increased its position in shares of DaVita by 50.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 300 shares of the company's stock worth $45,000 after purchasing an additional 100 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan acquired a new position in shares of DaVita during the 4th quarter worth approximately $55,000. Institutional investors own 90.12% of the company's stock.

DaVita Stock Performance

Shares of DVA stock traded up $3.03 during trading on Tuesday, reaching $132.08. 755,764 shares of the company's stock were exchanged, compared to its average volume of 917,332. The company has a quick ratio of 1.34, a current ratio of 1.39 and a debt-to-equity ratio of 23.18. The stock has a market capitalization of $9.44 billion, a PE ratio of 12.99, a PEG ratio of 0.92 and a beta of 1.09. DaVita Inc. has a twelve month low of $126.07 and a twelve month high of $179.60. The firm's fifty day moving average price is $139.84 and its 200-day moving average price is $146.10.

DaVita (NYSE:DVA - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates of $2.70 by $0.25. The business had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.36 billion. DaVita had a return on equity of 369.39% and a net margin of 6.35%. The firm's revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.00 EPS. As a group, sell-side analysts anticipate that DaVita Inc. will post 10.76 EPS for the current year.

Insider Buying and Selling at DaVita

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

Analysts Set New Price Targets

Several research analysts have weighed in on DVA shares. Truist Financial set a $148.00 price target on DaVita in a research report on Friday. Wall Street Zen raised DaVita from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Finally, Barclays lowered their price target on DaVita from $169.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th.

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.