ING Groep NV, a financial institution, recently reduced its position in DaVita Inc., a medical care services provider. According to the company’s filing with the Securities and Exchange Commission (SEC), ING Groep NV sold 2,528 shares of DaVita stock during the 1st quarter, resulting in an 82.4% reduction in its holdings. As a result, ING Groep NV now owns 539 shares of DaVita, which were valued at $44,000 at the end of the most recent quarter.
On August 3rd, DaVita announced its quarterly earnings data. The company reported earnings per share (EPS) of $2.08 for the quarter, surpassing analysts’ consensus estimates of $1.66 by $0.42. DaVita also achieved a return on equity of 60.67% and a net margin of 3.98%. In terms of revenue, the company generated $3 billion during the quarter compared to a consensus estimate of $2.95 billion. This represents a year-over-year increase of 2.5% in quarterly revenue for DaVita. In the same period last year, the company earned $2.30 EPS.
DaVita operates through two segments: US Dialysis and Related Lab Services and Other-Ancillary Services and Strategic Initiatives. The US Dialysis and Related Lab Services segment primarily focuses on providing kidney dialysis services to patients suffering from chronic kidney failure in the United States.
Analysts assessing DaVita’s performance anticipate that it will post earnings per share (EPS) of 7.21 for the current year.
As an organization primarily involved in medical care services provision, DaVita contributes to addressing the healthcare needs of individuals suffering from chronic kidney failure in the United States. Despite ING Groep NV’s reduction in ownership stake, it is clear that analysts and investors still maintain confidence in DaVita’s financial performance, as evidenced by the positive deviation in their earnings data.
This information demonstrates a vital piece of the puzzle for investors looking to make informed decisions about their holdings. Understanding the financial performance and ownership dynamics of companies can guide investment choices and contribute to building robust portfolios.
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Hedge Funds Show Significant Activity in DaVita as Analysts Remain Positive
As of August 17, 2023, there has been significant activity among hedge funds buying and selling shares of DaVita, a prominent healthcare company. Some notable hedge funds have increased their stakes in the company, while others have sold their shares.
Sentry Investment Management LLC, for instance, boosted its stake in DaVita by 63.4% during the fourth quarter of last year. The firm now owns 371 shares of the company’s stock worth $28,000 after acquiring an additional 144 shares in the last quarter. Similarly, Parkside Financial Bank & Trust increased its stake in DaVita by 88.6% during the first quarter and now owns 313 shares worth $35,000 after acquiring an additional 147 shares.
AlphaMark Advisors LLC also saw a significant boost in its stake in DaVita during the first quarter of this year. With an increase of 66%, AlphaMark Advisors’ stake now amounts to 528 shares worth $43,000 after acquiring an additional 210 shares. CWM LLC followed suit with a stake increase of 78.1%, owning 830 shares valued at $67,000 after acquiring an additional 364 shares.
Additionally, Ellevest Inc., one of the hedge funds investing in DaVita during the first quarter of this year, witnessed an astonishing increase in its stake by approximately 1,247.6%. As a result, Ellevest Inc.’s ownership now totals 849 shares worth $69,000 after acquiring an additional 786 shares.
It is essential to note that approximately 83.78% of DaVita stock is owned by institutional investors and hedge funds.
Moving on to analyze DVA stock’s performance on August 17th, it opened at $104.29 per share. The stock’s average price over the past fifty days was $102.12 per share while its two-hundred-day moving average was $91.60 per share. DaVita Inc. has a current ratio of 1.25 and a quick ratio of 1.20, indicating its ability to meet short-term obligations. Furthermore, the company’s debt-to-equity ratio stands at 7.13.
Over the past year, DaVita’s stock price has fluctuated between a low of $65.28 and a high of $116.97, providing investors with a wide range of potential returns. As of now, DaVita Inc.’s market capitalization sits at approximately $9.52 billion.
From a valuation perspective, the company has a price-to-earnings (P/E) ratio of 20.73 and a P/E/G (price-to-earnings growth) ratio of 1.15, indicating that it may be undervalued relative to its anticipated earnings growth rate.
In terms of the company’s beta, which is a measure of its volatility compared to the broader market, DaVita has a beta value of 0.94.
Separate analyst reports have shed some light on DaVita’s performance and prospects in recent times. UBS Group upgraded their rating on DaVita from “neutral” to “buy,” increasing their price target for the stock from $100.00 to $142.00 in their research note issued on August 7th.
Bank of America also revised their target price on DaVita from $86.00 to $96.00 in their research note published on May 9th.
In another report by StockNews.com, DaVita was upgraded from a “buy” rating to a “strong buy” rating as an indication of its positive performance.
Sanford C. Bernstein revised their target price on DaVita as well from $88.00 to $100 in their research note dated May 15th. Finally, Truist Financial increased their target price from $100.00 to $115.00 and rated the company as “hold” in a research note on July 13th.
In summary, while DaVita has received mostly positive ratings from analysts, it is important for investors to conduct thorough research and analysis before making any investment decisions. The stock’s performance and valuation indicators provide valuable insights for potential investors, but they should consider various factors and consult with financial advisors to make informed choices.
