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

DaVita (NYSE:DVA - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $2.59 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.17), Briefing.com reports. DaVita had a net margin of 6.86% and a return on equity of 77.00%. 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 prior year, the firm earned $2.85 earnings per share. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. DaVita updated its FY24 guidance to $9.25-$10.05 EPS and its FY 2024 guidance to 9.250-10.050 EPS.

DaVita Trading Down 10.8 %

Shares of DaVita stock traded down $17.15 during trading on Wednesday, hitting $141.16. The company's stock had a trading volume of 3,294,604 shares, compared to its average volume of 817,192. The stock has a market cap of $11.84 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 0.90 and a beta of 0.87. DaVita has a 52 week low of $76.17 and a 52 week high of $168.50. The stock has a 50-day moving average price of $158.21 and a two-hundred day moving average price of $146.02. The company has a debt-to-equity ratio of 9.94, a current ratio of 1.16 and a quick ratio of 1.12.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Bank of America raised their price objective on DaVita from $139.00 to $145.00 and gave the company an "underperform" rating in a research note on Wednesday, August 7th. UBS Group upped their price objective on shares of DaVita from $169.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. TD Cowen raised their target price on shares of DaVita from $139.00 to $150.00 and gave the company a "hold" rating in a research report on Wednesday, July 24th. Finally, Truist Financial upped their price target on shares of DaVita from $165.00 to $175.00 and gave the stock a "hold" rating in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, DaVita currently has a consensus rating of "Hold" and an average price target of $159.00.

Insider Buying and Selling

In other news, insider Kathleen Alyce Waters sold 7,857 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $146.21, for a total value of $1,148,771.97. Following the completion of the sale, the insider now owns 83,011 shares of the company's stock, valued at approximately $12,137,038.31. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 shares were sold at an average price of $146.21, for a total value of $1,148,771.97. Following the transaction, the insider now owns 83,011 shares in the company, valued at approximately $12,137,038.31. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael David Staffieri sold 9,539 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $150.03, for a total transaction of $1,431,136.17. Following the sale, the chief operating officer now owns 241,945 shares of the company's stock, valued at approximately $36,299,008.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 173,482 shares of company stock valued at $27,387,069 in the last three months. Insiders own 2.00% of the company's stock.

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.