Persistent Asset Partners Ltd Has $1.64 Million Stake in DaVita Inc. (NYSE:DVA)

Key Points

• Persistent Asset Partners Ltd has significantly reduced its stake in DaVita Inc. by 75.2%, bringing their holdings down to 10,722 shares worth approximately $1.64 million.
• Several hedge funds have increased their positions in DaVita, with Deutsche Bank AG raising its stake by 35.2% in the last quarter.
• Analyst ratings for DaVita have varied, with Wall Street Zen upgrading it from a "hold" to a "buy" rating, while Barclays lowered its price target from $169.00 to $160.00.

Persistent Asset Partners Ltd decreased its stake in shares of DaVita Inc. (NYSE:DVA - Free Report) by 75.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 10,722 shares of the company's stock after selling 32,426 shares during the period. DaVita accounts for about 1.4% of Persistent Asset Partners Ltd's holdings, making the stock its 19th largest position. Persistent Asset Partners Ltd's holdings in DaVita were worth $1,640,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Invesco Ltd. increased its stake in DaVita by 3.4% during the first quarter. Invesco Ltd. now owns 1,642,947 shares of the company's stock valued at $251,322,000 after acquiring an additional 53,402 shares during the period. Northern Trust Corp raised its position in DaVita by 12.5% in the fourth quarter. Northern Trust Corp now owns 740,774 shares of the company's stock worth $110,783,000 after purchasing an additional 82,326 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in DaVita by 14.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 466,046 shares of the company's stock worth $69,697,000 after purchasing an additional 57,386 shares in the last quarter. Deutsche Bank AG raised its position in DaVita by 35.2% in the fourth quarter. Deutsche Bank AG now owns 392,422 shares of the company's stock worth $58,687,000 after purchasing an additional 102,230 shares in the last quarter. Finally, Epoch Investment Partners Inc. acquired a new position in DaVita in the fourth quarter worth about $55,100,000. Institutional investors and hedge funds own 90.12% of the company's stock.

Analyst Upgrades and Downgrades

DVA has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of DaVita from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Barclays reduced their price target on shares of DaVita from $169.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. Finally, Truist Financial set a $148.00 price target on shares of DaVita in a research report on Friday.

Insider Activity at DaVita

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

DaVita Trading Down 0.2%

DVA opened at $129.22 on Tuesday. 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 stock has a market capitalization of $9.24 billion, a PE ratio of 12.71, a PEG ratio of 0.93 and a beta of 1.09. DaVita Inc. has a 1-year low of $126.07 and a 1-year high of $179.60. The firm has a 50-day moving average price of $139.92 and a two-hundred day moving average price of $146.19.

DaVita (NYSE:DVA - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.95 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the prior year, the company posted $2.00 EPS. The company's revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts anticipate that DaVita Inc. will post 10.76 earnings per share for the current fiscal year.

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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