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

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

DaVita Stock Down 10.8 %

Shares of NYSE DVA opened at $141.16 on Thursday. DaVita has a 52-week low of $76.17 and a 52-week high of $168.50. 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 company’s 50 day moving average price is $158.21 and its 200-day moving average price is $146.02. The company has a market capitalization of $11.84 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 0.90 and a beta of 0.87.

Insiders Place Their Bets

In other DaVita news, CEO Javier Rodriguez sold 32,176 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 905,659 shares of the company’s stock, valued at approximately $141,219,407.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Kathleen Alyce Waters sold 7,857 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $146.21, for a total transaction of $1,148,771.97. Following the completion of the sale, the insider now owns 83,011 shares in the company, valued at $12,137,038.31. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Javier Rodriguez sold 32,176 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 905,659 shares in the company, valued at approximately $141,219,407.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 173,482 shares of company stock worth $27,387,069. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Truist Financial boosted their target price on shares of DaVita from $165.00 to $175.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. TD Cowen increased their target price on DaVita from $139.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Bank of America lifted their price target on DaVita from $139.00 to $145.00 and gave the company an “underperform” rating in a research note on Wednesday, August 7th. Finally, UBS Group upped their price objective on DaVita from $169.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. One equities 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 company’s stock. According to data from MarketBeat, DaVita presently has a consensus rating of “Hold” and a consensus price target of $159.00.

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.