The Manufacturers Life Insurance Company Lowers Stock Position in DaVita Inc. (NYSE:DVA)

The Manufacturers Life Insurance Company lowered its position in DaVita Inc. (NYSE:DVA - Free Report) by 13.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,251 shares of the company's stock after selling 5,993 shares during the period. The Manufacturers Life Insurance Company's holdings in DaVita were worth $6,434,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Transcendent Capital Group LLC acquired a new position in shares of DaVita during the 3rd quarter worth $25,000. Blue Trust Inc. grew its position in DaVita by 58.6% during the second quarter. Blue Trust Inc. now owns 211 shares of the company's stock worth $29,000 after buying an additional 78 shares during the period. Family Firm Inc. purchased a new position in DaVita in the second quarter valued at about $43,000. Friedenthal Financial acquired a new stake in shares of DaVita during the 2nd quarter valued at approximately $48,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of DaVita during the 2nd quarter worth approximately $68,000. Hedge funds and other institutional investors own 90.12% of the company's stock.

DaVita Price Performance

Shares of DVA traded down $1.14 during trading hours on Friday, reaching $160.23. 506,736 shares of the company traded hands, compared to its average volume of 814,629. The stock has a market capitalization of $13.14 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 0.93 and a beta of 0.90. The stock has a fifty day simple moving average of $158.63 and a 200 day simple moving average of $150.01. DaVita Inc. has a fifty-two week low of $103.40 and a fifty-two week high of $169.51. The company has a quick ratio of 1.33, a current ratio of 1.37 and a debt-to-equity ratio of 15.78.

DaVita (NYSE:DVA - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.76 by ($0.17). The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.25 billion. DaVita had a return on equity of 88.18% and a net margin of 6.53%. DaVita's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.85 earnings per share. As a group, research analysts predict that DaVita Inc. will post 9.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other DaVita news, CEO Javier Rodriguez sold 50,000 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $165.05, for a total value of $8,252,500.00. Following the sale, the chief executive officer now directly owns 837,835 shares of the company's stock, valued at approximately $138,284,666.75. This trade represents a 5.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DVA shares. Barclays lifted their price objective on DaVita from $150.00 to $164.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Truist Financial boosted their price objective on shares of DaVita from $165.00 to $175.00 and gave the stock a "hold" rating in a research report on Monday, October 7th. Finally, UBS Group raised their target price on shares of DaVita from $169.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, DaVita currently has a consensus rating of "Hold" and an average price target of $161.80.

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.