DaVita (NYSE:DVA) Issues Quarterly Earnings Results, Beats Expectations By $0.43 EPS

DaVita (NYSE:DVA) released its earnings results on Thursday. The company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.43, RTT News reports. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.03 billion. DaVita had a net margin of 5.70% and a return on equity of 64.42%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.58 EPS. DaVita updated its FY24 guidance to $9.00-$9.80 EPS.

DaVita Price Performance

Shares of DVA traded up $2.46 during trading hours on Thursday, reaching $142.21. The company had a trading volume of 1,891,441 shares, compared to its average volume of 819,306. The company has a market capitalization of $12.47 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 1.24 and a beta of 1.04. DaVita has a 12-month low of $71.51 and a 12-month high of $143.23. The firm has a 50 day simple moving average of $133.13 and a 200-day simple moving average of $111.96. The company has a current ratio of 1.19, a quick ratio of 1.13 and a debt-to-equity ratio of 6.65.

Insiders Place Their Bets

In related news, insider James O. Hearty sold 26,164 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $119.64, for a total value of $3,130,260.96. Following the completion of the transaction, the insider now directly owns 20,264 shares of the company’s stock, valued at approximately $2,424,384.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider James O. Hearty sold 26,164 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $119.64, for a total value of $3,130,260.96. Following the sale, the insider now directly owns 20,264 shares in the company, valued at approximately $2,424,384.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Javier Rodriguez sold 67,603 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $126.11, for a total transaction of $8,525,414.33. Following the transaction, the chief executive officer now owns 488,697 shares of the company’s stock, valued at $61,629,578.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,540 shares of company stock worth $16,551,071. 1.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on DVA shares. TheStreet upgraded DaVita from a “c+” rating to a “b-” rating in a report on Wednesday, February 7th. StockNews.com raised shares of DaVita from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. UBS Group boosted their price target on shares of DaVita from $113.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Barclays assumed coverage on shares of DaVita in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $133.00 price objective on the stock. Finally, Truist Financial boosted their target price on shares of DaVita from $130.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, February 20th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.50.

About DaVita

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.