DaVita Inc. $DVA Shares Sold by Patton Fund Management Inc.

Key Points

• Patton Fund Management Inc. significantly reduced its stake in DaVita Inc. by 92%, owning just 1,713 shares after selling 19,635 shares in the second quarter.
• Following recent quarterly earnings, DaVita reported $2.95 EPS, exceeding analysts' expectations, with revenue of $3.38 billion, a 6.1% increase from the previous year.
• Bank of America and Barclays have recently cut their price targets for DaVita, with an average forecast of $158.00 and an overall rating of "Reduce" from analysts.

Patton Fund Management Inc. trimmed its position in DaVita Inc. (NYSE:DVA - Free Report) by 92.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,713 shares of the company's stock after selling 19,635 shares during the period. Patton Fund Management Inc.'s holdings in DaVita were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in DVA. Wealth Enhancement Advisory Services LLC raised its holdings in shares of DaVita by 2.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,551 shares of the company's stock worth $531,000 after purchasing an additional 69 shares during the last quarter. UMB Bank n.a. increased its holdings in DaVita by 65.5% in the first quarter. UMB Bank n.a. now owns 192 shares of the company's stock valued at $29,000 after buying an additional 76 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of DaVita by 8.9% in the first quarter. Exchange Traded Concepts LLC now owns 970 shares of the company's stock valued at $148,000 after purchasing an additional 79 shares during the period. Mather Group LLC. grew its position in shares of DaVita by 7.0% in the first quarter. Mather Group LLC. now owns 1,201 shares of the company's stock valued at $184,000 after purchasing an additional 79 shares during the period. Finally, National Pension Service grew its position in shares of DaVita by 74.3% in the first quarter. National Pension Service now owns 197 shares of the company's stock valued at $30,000 after purchasing an additional 84 shares during the period. 90.12% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider James O. Hearty sold 2,351 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $150.00, for a total transaction of $352,650.00. Following the completion of the transaction, the insider owned 26,038 shares in the company, valued at approximately $3,905,700. This represents a 8.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is currently owned by insiders.

DaVita Stock Performance

NYSE:DVA opened at $131.08 on Friday. The company has a market capitalization of $9.37 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 0.94 and a beta of 1.13. DaVita Inc. has a twelve month low of $126.07 and a twelve month high of $179.60. The company has a current ratio of 1.39, a quick ratio of 1.34 and a debt-to-equity ratio of 23.18. The firm has a 50-day moving average price of $136.16 and a two-hundred day moving average price of $140.54.

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

Analyst Ratings Changes

A number of research firms recently weighed in on DVA. Bank of America lowered their price target on shares of DaVita from $145.00 to $140.00 and set an "underperform" rating on the stock in a research report on Wednesday, September 10th. Barclays cut their target price on shares of DaVita from $169.00 to $160.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 7th. Truist Financial set a $148.00 target price on shares of DaVita in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of DaVita from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, DaVita currently has an average rating of "Reduce" and an average target price of $158.00.

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.

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