Davita (DVA) Upgraded to “Buy” at Citigroup
Citigroup upgraded shares of Davita (NYSE:DVA) from a neutral rating to a buy rating in a research report report published on Monday morning. They currently have $82.00 target price on the stock, up from their previous target price of $67.71.
A number of other research analysts have also weighed in on the stock. J P Morgan Chase & Co boosted their target price on shares of Davita from $4.90 to $84.00 and gave the stock a strong-buy rating in a research report on Thursday, December 7th. SunTrust Banks set a $70.00 target price on shares of Davita and gave the stock a hold rating in a research report on Thursday, December 7th. Raymond James Financial upgraded shares of Davita from an outperform rating to a strong-buy rating and boosted their price objective for the stock from $65.00 to $84.00 in a report on Thursday, December 7th. KeyCorp restated a hold rating on shares of Davita in a report on Wednesday, December 6th. Finally, Robert W. Baird restated a hold rating and set a $63.00 price objective on shares of Davita in a report on Friday, November 10th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Davita presently has a consensus rating of Hold and an average price target of $73.33.
Davita (NYSE:DVA) traded up $1.80 during trading on Monday, reaching $69.51. 2,445,600 shares of the company’s stock were exchanged, compared to its average volume of 1,657,434. The firm has a market cap of $12,814.77, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 13.65 and a beta of 0.97. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.35 and a current ratio of 1.40. Davita has a 52-week low of $52.51 and a 52-week high of $70.16.
Davita (NYSE:DVA) last released its earnings results on Tuesday, November 7th. The company reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.13). The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.91 billion. Davita had a return on equity of 13.31% and a net margin of 3.40%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 EPS. analysts forecast that Davita will post 3.42 earnings per share for the current year.
Davita declared that its board has initiated a stock repurchase program on Tuesday, October 10th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
In related news, CEO Javier Rodriguez sold 22,532 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $67.48, for a total value of $1,520,459.36. Following the sale, the chief executive officer now owns 210,317 shares of the company’s stock, valued at $14,192,191.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James K. Hilger sold 5,608 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $69.46, for a total transaction of $389,531.68. Following the completion of the sale, the insider now directly owns 47,649 shares in the company, valued at approximately $3,309,699.54. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of DVA. Schroder Investment Management Group increased its stake in Davita by 769.0% in the third quarter. Schroder Investment Management Group now owns 434,191 shares of the company’s stock valued at $25,387,000 after acquiring an additional 384,224 shares during the period. Canada Pension Plan Investment Board increased its stake in Davita by 33.1% in the second quarter. Canada Pension Plan Investment Board now owns 387,370 shares of the company’s stock valued at $25,086,000 after acquiring an additional 96,282 shares during the period. Speece Thorson Capital Group Inc. increased its stake in Davita by 14.5% in the third quarter. Speece Thorson Capital Group Inc. now owns 321,182 shares of the company’s stock valued at $19,075,000 after acquiring an additional 40,667 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in Davita by 1,987.3% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 41,746 shares of the company’s stock valued at $2,448,000 after acquiring an additional 39,746 shares during the period. Finally, Airain ltd bought a new stake in Davita in the second quarter valued at about $2,234,000. 85.32% of the stock is currently owned by institutional investors and hedge funds.
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Davita Company Profile
DaVita Inc, formerly DaVita HealthCare Partners Inc, operates two divisions: DaVita Kidney Care (Kidney Care) and DaVita Medical Group (DMG). The Kidney Care division consists of its the United States dialysis and related lab services, its ancillary services and strategic initiatives, including its international operations, and its corporate administrative support.
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