Federated Hermes Inc. Decreases Stock Holdings in DaVita Inc. (NYSE:DVA)

Key Points

• Federated Hermes Inc. significantly reduced its stake in DaVita Inc. by selling 146,428 shares, resulting in ownership of just 901 shares valued at approximately $138,000.
• Several hedge funds have adjusted their positions in DaVita, with Wellington Management Group increasing its stake by 9.1% and new acquisitions from firms such as Raymond James Financial and Bessemer Group.
• Analyst ratings have shifted, with Truist Financial setting a price target of $148.00, while Barclays reduced its target from $169.00 to $160.00, and Wall Street Zen upgraded DaVita from "hold" to "buy."

Federated Hermes Inc. trimmed its position in DaVita Inc. (NYSE:DVA - Free Report) by 99.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 901 shares of the company's stock after selling 146,428 shares during the quarter. Federated Hermes Inc.'s holdings in DaVita were worth $138,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp raised its stake in DaVita by 87.4% during the 1st quarter. Mackenzie Financial Corp now owns 14,861 shares of the company's stock worth $2,273,000 after acquiring an additional 6,930 shares in the last quarter. Inlet Private Wealth LLC raised its stake in DaVita by 1.0% during the 1st quarter. Inlet Private Wealth LLC now owns 40,340 shares of the company's stock worth $6,171,000 after acquiring an additional 400 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in DaVita during the 1st quarter worth $83,000. LPL Financial LLC raised its stake in DaVita by 36.2% during the 1st quarter. LPL Financial LLC now owns 18,689 shares of the company's stock worth $2,859,000 after acquiring an additional 4,968 shares in the last quarter. Finally, Empirical Finance LLC raised its stake in DaVita by 6.0% during the 1st quarter. Empirical Finance LLC now owns 2,084 shares of the company's stock worth $319,000 after acquiring an additional 118 shares in the last quarter. 90.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DVA. Wall Street Zen upgraded shares of DaVita from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Truist Financial set a $148.00 price objective on shares of DaVita in a research note on Friday. Finally, Barclays dropped their price objective 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.

DaVita Stock Performance

NYSE DVA traded up $3.03 during trading on Tuesday, reaching $132.08. The company's stock had a trading volume of 755,764 shares, compared to its average volume of 917,332. 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 cap of $9.44 billion, a price-to-earnings ratio of 12.99, a P/E/G 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 business'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 issued its earnings results on Tuesday, August 5th. The company reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.25. The business had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.36 billion. DaVita had a net margin of 6.35% and a return on equity of 369.39%. The business's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.00 earnings per share. As a group, analysts anticipate that DaVita Inc. will post 10.76 EPS for the current fiscal year.

Insider Buying and Selling at DaVita

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