DaVita (NYSE:DVA) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• DaVita shares moved above their 200-day moving average of $179.73, reaching $183.50 during Wednesday trading and last trading at about $183.16.
• The company beat quarterly earnings and revenue expectations, reporting EPS of $3.82 versus $3.57 expected and revenue of $3.58 billion versus $3.52 billion; revenue increased 4.6% year over year.
• Analysts give DaVita a consensus “Moderate Buy” rating and an average price target of $235.86. Berkshire Hathaway and other major investors also hold significant positions, with institutional investors owning 90.12% of shares.

DaVita Inc. (NYSE:DVA - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $179.73 and traded as high as $183.50. DaVita shares last traded at $183.1590, with a volume of 573,314 shares trading hands.

Analyst Ratings Changes

Several analysts recently commented on DVA shares. Raymond James Financial set a $220.00 price objective on DaVita in a research note on Friday, August 7th. UBS Group raised their price target on DaVita from $270.00 to $287.00 and gave the stock a "buy" rating in a research report on Monday, November 2nd. TD Cowen lifted their price objective on DaVita from $220.00 to $228.00 and gave the company a "buy" rating in a report on Monday, November 2nd. Deutsche Bank reiterated a "buy" rating and issued a $265.00 price objective on shares of DaVita in a research report on Wednesday, August 5th. Finally, Weiss Ratings raised DaVita from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, October 9th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $235.86.

DaVita Stock Performance

The stock has a market cap of $11.52 billion, a P/E ratio of 13.49, a PEG ratio of 0.45 and a beta of 0.87. The stock has a fifty day simple moving average of $182.82 and a 200-day simple moving average of $179.73.

DaVita (NYSE:DVA - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $3.82 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.25. The company had revenue of $3.58 billion during the quarter, compared to analysts' expectations of $3.52 billion. DaVita had a negative return on equity of 225.93% and a net margin of 6.49%. DaVita's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.51 earnings per share. On average, research analysts anticipate that DaVita Inc. will post 14.66 earnings per share for the current year.

Hedge Funds Weigh In On DaVita

A number of large investors have recently bought and sold shares of the company. Berkshire Hathaway Inc bought a new position in shares of DaVita during the 2nd quarter worth approximately $6,425,269,000. BlackRock Inc. acquired a new stake in shares of DaVita in the second quarter valued at approximately $547,520,000. Dimensional Fund Advisors LP lifted its position in shares of DaVita by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,145,436 shares of the company's stock worth $176,037,000 after purchasing an additional 56,336 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of DaVita in the second quarter worth $145,057,000. Finally, Bank of New York Mellon Corp acquired a new position in DaVita during the second quarter worth $101,127,000. Institutional investors and hedge funds own 90.12% of the company's stock.

About DaVita

DaVita Inc. is a healthcare provider focused on kidney care. Its core business is operating outpatient dialysis centers that provide treatment and related services to people with chronic kidney failure. The company also offers home dialysis programs, provides dialysis services to patients in hospitals, and supports kidney care through services such as care coordination and education. DaVita primarily serves patients in the United States and also operates in international markets. Founded in 1994 as Total Renal Care, the company adopted the name DaVita in 2000.

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