DaVita (NYSE:DVA) Posts Earnings Results, Misses Expectations By $0.17 EPS

DaVita (NYSE:DVA) issued its quarterly earnings data on Tuesday. The company reported $2.59 EPS for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.17), Briefing.com reports. DaVita had a net margin of 6.86% and a return on equity of 77.00%. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same period in the prior year, the company earned $2.85 earnings per share. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. DaVita updated its FY24 guidance to $9.25-$10.05 EPS and its FY 2024 guidance to 9.250-10.050 EPS.

DaVita Trading Down 11.7 %

Shares of DaVita stock traded down $18.48 during midday trading on Wednesday, reaching $139.83. 1,934,443 shares of the company’s stock traded hands, compared to its average volume of 810,290. The company has a debt-to-equity ratio of 9.94, a quick ratio of 1.12 and a current ratio of 1.16. The stock has a 50 day moving average of $158.40 and a 200-day moving average of $146.05. The company has a market cap of $11.73 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 0.90 and a beta of 0.87. DaVita has a 12 month low of $76.17 and a 12 month high of $168.50.

Analyst Upgrades and Downgrades

DVA has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on shares of DaVita from $165.00 to $175.00 and gave the company a “hold” rating in a research note on Monday, October 7th. TD Cowen increased their price objective on shares of DaVita from $139.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. UBS Group raised their price objective on shares of DaVita from $169.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Bank of America raised their target price on DaVita from $139.00 to $145.00 and gave the company an “underperform” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, DaVita has an average rating of “Hold” and an average price target of $159.00.

Insider Buying and Selling at DaVita

In other news, CFO Joel Ackerman sold 64,029 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $155.06, for a total transaction of $9,928,336.74. Following the completion of the transaction, the chief financial officer now directly owns 111,481 shares in the company, valued at $17,286,243.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Javier Rodriguez sold 32,176 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $155.93, for a total value of $5,017,203.68. Following the sale, the chief executive officer now directly owns 905,659 shares in the company, valued at approximately $141,219,407.87. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joel Ackerman sold 64,029 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $155.06, for a total value of $9,928,336.74. Following the sale, the chief financial officer now directly owns 111,481 shares in the company, valued at $17,286,243.86. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 173,482 shares of company stock valued at $27,387,069. 2.00% of the stock is currently owned by corporate 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.