Royal Bank of Canada Sells 16,517 Shares of DaVita Inc. $DVA

Key Points

• Royal Bank of Canada reduced its DaVita holdings by 6.4%, selling 16,517 shares and retaining 242,615 shares valued at approximately $37.3 million.
• Other institutional investors made substantial purchases, including Arrowstreet Capital, Norges Bank and Corient Private Wealth; institutions collectively own 90.12% of DaVita’s stock.
• DaVita exceeded first-quarter earnings expectations, reporting $2.87 in EPS versus the $2.33 consensus and $3.42 billion in revenue. Analysts maintain a consensus “Hold” rating with a $216.50 price target.

Royal Bank of Canada decreased its holdings in DaVita Inc. (NYSE:DVA - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 242,615 shares of the company's stock after selling 16,517 shares during the quarter. Royal Bank of Canada owned approximately 0.38% of DaVita worth $37,285,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its position in shares of DaVita by 114.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,190,000 shares of the company's stock valued at $135,196,000 after buying an additional 636,191 shares during the last quarter. Norges Bank acquired a new position in shares of DaVita in the fourth quarter worth approximately $49,164,000. Corient Private Wealth LLC lifted its stake in shares of DaVita by 1,493.1% in the fourth quarter. Corient Private Wealth LLC now owns 358,299 shares of the company's stock worth $40,706,000 after acquiring an additional 335,809 shares during the period. Man Group plc increased its position in DaVita by 1,608.6% during the 2nd quarter. Man Group plc now owns 285,809 shares of the company's stock valued at $40,713,000 after purchasing an additional 269,081 shares during the period. Finally, Voloridge Investment Management LLC raised its holdings in DaVita by 2,905.7% during the 3rd quarter. Voloridge Investment Management LLC now owns 228,221 shares of the company's stock worth $30,324,000 after purchasing an additional 220,628 shares during the last quarter. 90.12% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Joel Ackerman sold 51,471 shares of DaVita stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $192.10, for a total transaction of $9,887,579.10. Following the transaction, the chief financial officer owned 132,434 shares of the company's stock, valued at $25,440,571.40. The trade was a 27.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kathleen Alyce Waters sold 15,405 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $208.40, for a total value of $3,210,402.00. Following the completion of the sale, the insider directly owned 109,194 shares of the company's stock, valued at $22,756,029.60. The trade was a 12.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is owned by company insiders.

DaVita Price Performance

DVA opened at $233.43 on Tuesday. DaVita Inc. has a fifty-two week low of $101.00 and a fifty-two week high of $247.49. The firm has a market capitalization of $14.99 billion, a PE ratio of 21.65, a P/E/G ratio of 0.79 and a beta of 0.88. The company's 50-day moving average is $218.46 and its 200 day moving average is $174.48.

DaVita (NYSE:DVA - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $2.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.33 by $0.54. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.36 billion. DaVita had a negative return on equity of 270.37% and a net margin of 5.65%.The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.00 EPS. As a group, analysts expect that DaVita Inc. will post 15.07 EPS for the current year.

Wall Street Analysts Forecast Growth

DVA has been the subject of a number of analyst reports. Weiss Ratings reissued a "hold (c+)" rating on shares of DaVita in a research note on Monday, June 8th. Truist Financial boosted their price objective on DaVita from $205.00 to $250.00 and gave the company a "hold" rating in a research note on Tuesday, July 14th. Zacks Research cut DaVita from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. UBS Group boosted their price target on DaVita from $235.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Finally, TD Cowen lifted their price target on shares of DaVita from $144.00 to $201.00 and gave the company a "hold" rating in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $216.50.

DaVita Company Profile

DaVita Inc NYSE: DVA is a leading provider of kidney care services, specializing in the management and operation of outpatient dialysis centers for patients with chronic kidney failure and end-stage renal disease. Headquartered in Denver, Colorado, the company offers a comprehensive suite of treatment modalities, including in-center hemodialysis, peritoneal dialysis, and home dialysis therapies. In addition to its core dialysis services, DaVita provides patient education, nutritional counseling, vascular access management and related laboratory services to support kidney health and overall patient well-being.

Since its formation in the mid-1990s through a clinical management services spin-off, DaVita has expanded both organically and through strategic partnerships and acquisitions.

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