Citigroup Upgrades Davita (DVA) to “Buy”
Citigroup upgraded shares of Davita (NYSE:DVA) from a neutral rating to a buy rating in a research note published on Monday morning, MarketBeat.com reports. Citigroup currently has $82.00 price objective on the stock, up from their previous price objective of $67.71.
A number of other brokerages have also recently commented on DVA. J P Morgan Chase & Co raised their price objective on shares of Davita from $4.90 to $84.00 and gave the stock a strong-buy rating in a research note on Thursday, December 7th. Robert W. Baird reissued a hold rating and issued a $63.00 price target on shares of Davita in a research note on Friday, November 10th. SunTrust Banks set a $70.00 price target on shares of Davita and gave the company a hold rating in a research note on Thursday, December 7th. Zacks Investment Research cut shares of Davita from a hold rating to a sell rating in a research note on Wednesday, October 11th. Finally, Raymond James Financial raised shares of Davita from an outperform rating to a strong-buy rating and lifted their price target for the company from $65.00 to $84.00 in a research note on Thursday, December 7th. Three equities 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 issued a strong buy rating to the stock. Davita has an average rating of Hold and a consensus target price of $73.33.
Shares of Davita (NYSE:DVA) opened at $69.03 on Monday. The company has a market cap of $13,492.22, a P/E ratio of 20.37, a PEG ratio of 14.38 and a beta of 0.97. Davita has a one year low of $52.51 and a one year high of $71.47. 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 (NYSE:DVA) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates 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%. Davita’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 EPS. research analysts forecast that Davita will post 3.42 earnings per share for the current fiscal year.
Davita announced that its board has initiated a share repurchase plan on Tuesday, October 10th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other Davita news, insider Charles Berg sold 7,048 shares of Davita stock in a transaction on Monday, December 11th. The shares were sold at an average price of $69.24, for a total transaction of $488,003.52. Following the sale, the insider now owns 5,359 shares of the company’s stock, valued at approximately $371,057.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Leanne M. Zumwalt sold 949 shares of Davita stock in a transaction on Friday, December 8th. The stock was sold at an average price of $68.19, for a total transaction of $64,712.31. Following the sale, the vice president now directly owns 12,423 shares in the company, valued at approximately $847,124.37. The disclosure for this sale can be found here. Insiders sold a total of 117,937 shares of company stock worth $8,028,379 in the last three months. 2.10% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its stake in Davita by 4.4% during the 3rd quarter. Rhumbline Advisers now owns 321,155 shares of the company’s stock worth $19,073,000 after purchasing an additional 13,471 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in Davita by 10.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 112,506 shares of the company’s stock worth $7,286,000 after purchasing an additional 10,775 shares during the last quarter. Founders Capital Management LLC boosted its stake in Davita by 2.3% during the 3rd quarter. Founders Capital Management LLC now owns 95,939 shares of the company’s stock worth $5,698,000 after purchasing an additional 2,115 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its stake in Davita by 1,987.3% during the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 41,746 shares of the company’s stock worth $2,448,000 after purchasing an additional 39,746 shares during the last quarter. Finally, Speece Thorson Capital Group Inc. boosted its stake in Davita by 14.5% during the 3rd quarter. Speece Thorson Capital Group Inc. now owns 321,182 shares of the company’s stock worth $19,075,000 after purchasing an additional 40,667 shares during the last quarter. 85.32% of the stock is currently owned by institutional investors.
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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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