Wedge Capital Management L L P NC Buys 8,538 Shares of DaVita Inc. $DVA

Key Points

• Wedge Capital Management L L P NC increased its stake in DaVita Inc. by 3.3%, owning 268,444 shares valued at approximately $38.24 million, according to their recent SEC filing.
• DaVita has seen a significant increase in institutional investments, with various firms such as UMB Bank n.a. and National Pension Service boosting their holdings by over 65% in the first quarter.
• Analyst ratings for DaVita are mixed, with recent upgrades and downgrades, leading to a consensus rating of "Reduce" and an average price target of $158.00.

Wedge Capital Management L L P NC grew its stake in DaVita Inc. (NYSE:DVA - Free Report) by 3.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 268,444 shares of the company's stock after purchasing an additional 8,538 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.36% of DaVita worth $38,240,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Fifth Third Bancorp increased its position in DaVita by 5.0% during the first quarter. Fifth Third Bancorp now owns 4,274 shares of the company's stock worth $654,000 after acquiring an additional 204 shares during the period. Concurrent Investment Advisors LLC bought a new position in DaVita during the first quarter worth about $223,000. Wealth Enhancement Advisory Services LLC increased its position in DaVita by 22.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,351 shares of the company's stock worth $666,000 after acquiring an additional 800 shares during the period. Envestnet Asset Management Inc. increased its position in DaVita by 7.9% during the first quarter. Envestnet Asset Management Inc. now owns 55,255 shares of the company's stock worth $8,452,000 after acquiring an additional 4,048 shares during the period. Finally, OneDigital Investment Advisors LLC bought a new position in DaVita during the first quarter worth about $200,000. 90.12% of the stock is owned by institutional investors.

DaVita Stock Performance

NYSE DVA traded up $1.45 during trading on Tuesday, hitting $132.60. 326,225 shares of the company's stock traded hands, compared to its average volume of 858,868. The stock has a market capitalization of $9.48 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 0.93 and a beta of 1.13. DaVita Inc. has a 12-month low of $126.07 and a 12-month high of $179.60. 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 business has a 50 day moving average of $136.91 and a 200-day moving average of $140.91.

DaVita (NYSE:DVA - Get Free Report) last announced its quarterly 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. DaVita had a return on equity of 369.39% and a net margin of 6.35%.The firm had revenue of $3.38 billion for the quarter, compared to analysts' expectations of $3.36 billion. During the same period in the prior year, the business posted $2.00 earnings per share. The company's revenue was up 6.1% on a year-over-year basis. DaVita has set its FY 2025 guidance at 10.200-11.300 EPS. As a group, equities research analysts anticipate that DaVita Inc. will post 10.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DVA. Bank of America reduced their price target on shares of DaVita from $145.00 to $140.00 and set an "underperform" rating on the stock in a research note on Wednesday, September 10th. Barclays lowered their price target on shares of DaVita from $169.00 to $160.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. Truist Financial set a $148.00 price objective on shares of DaVita in a research note 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 investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $158.00.

Insider Buying and Selling at DaVita

In related news, insider James O. Hearty sold 2,351 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.50% of the company's stock.

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.