Smith Group Asset Management LLC Cuts Stock Position in DaVita Inc. (NYSE:DVA)

Smith Group Asset Management LLC reduced its holdings in shares of DaVita Inc. (NYSE:DVA) by 3.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,370 shares of the company’s stock after selling 210 shares during the quarter. Smith Group Asset Management LLC’s holdings in DaVita were worth $953,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. FMR LLC lifted its holdings in shares of DaVita by 659.9% during the third quarter. FMR LLC now owns 177,406 shares of the company’s stock worth $29,082,000 after purchasing an additional 154,061 shares during the period. Glenmede Trust Co. NA increased its holdings in DaVita by 731.6% in the third quarter. Glenmede Trust Co. NA now owns 123,269 shares of the company’s stock valued at $20,207,000 after buying an additional 108,446 shares in the last quarter. JPMorgan Chase & Co. boosted its position in DaVita by 17.8% during the third quarter. JPMorgan Chase & Co. now owns 609,076 shares of the company’s stock worth $99,846,000 after purchasing an additional 92,014 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in DaVita in the 2nd quarter worth $9,615,000. Finally, KBC Group NV lifted its stake in DaVita by 27.3% in the 3rd quarter. KBC Group NV now owns 313,519 shares of the company’s stock valued at $51,395,000 after buying an additional 67,250 shares in the last quarter. 90.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DVA. Barclays increased their target price on shares of DaVita from $150.00 to $164.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Truist Financial raised their price objective on DaVita from $165.00 to $175.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, DaVita has an average rating of “Hold” and a consensus price target of $161.80.

DaVita Stock Performance

Shares of DaVita stock opened at $173.17 on Wednesday. DaVita Inc. has a one year low of $105.82 and a one year high of $178.75. The business has a 50-day simple moving average of $159.01 and a 200-day simple moving average of $154.48. The company has a debt-to-equity ratio of 15.78, a quick ratio of 1.33 and a current ratio of 1.37. The company has a market cap of $14.20 billion, a PE ratio of 18.68, a P/E/G ratio of 0.82 and a beta of 0.92.

DaVita (NYSE:DVA) last issued its earnings results on Tuesday, October 29th. The company reported $2.59 EPS for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.17). DaVita had a return on equity of 88.18% and a net margin of 6.53%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the previous year, the firm posted $2.85 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities research analysts forecast that DaVita Inc. will post 9.71 EPS for the current fiscal year.

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.