Kentucky Retirement Systems Insurance Trust Fund Reduces Position in DaVita Inc. (NYSE:DVA)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in shares of DaVita Inc. (NYSE:DVA) by 18.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,366 shares of the company’s stock after selling 303 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in DaVita were worth $224,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of DVA. Harvard Management Co. Inc. purchased a new stake in shares of DaVita during the second quarter worth about $55,115,000. Lazard Asset Management LLC increased its position in shares of DaVita by 147.3% during the first quarter. Lazard Asset Management LLC now owns 256,872 shares of the company’s stock worth $35,460,000 after acquiring an additional 153,008 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of DaVita during the second quarter worth about $9,615,000. KBC Group NV increased its position in shares of DaVita by 27.3% during the third quarter. KBC Group NV now owns 313,519 shares of the company’s stock worth $51,395,000 after acquiring an additional 67,250 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of DaVita during the third quarter worth about $10,346,000. 90.12% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Javier Rodriguez sold 50,000 shares of DaVita stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $165.05, for a total transaction of $8,252,500.00. Following the sale, the chief executive officer now owns 837,835 shares of the company’s stock, valued at approximately $138,284,666.75. The trade was a 5.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Joel Ackerman sold 64,029 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $155.06, for a total value of $9,928,336.74. Following the sale, the chief financial officer now directly owns 111,481 shares in the company, valued at approximately $17,286,243.86. The trade was a 36.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,086 shares of company stock valued at $24,807,161. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

DVA has been the subject of a number of research reports. TD Cowen lifted their price target on DaVita from $139.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. UBS Group lifted their price target on DaVita from $169.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Bank of America lifted their price target on DaVita from $139.00 to $145.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 7th. Barclays lifted their price target on DaVita from $150.00 to $164.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Truist Financial lifted their price target on DaVita from $165.00 to $175.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $161.80.

DaVita Stock Performance

Shares of DVA stock opened at $156.98 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.37 and a debt-to-equity ratio of 15.78. The business has a 50 day moving average of $157.99 and a two-hundred day moving average of $147.88. DaVita Inc. has a 52 week low of $95.60 and a 52 week high of $168.50. The company has a market cap of $12.87 billion, a P/E ratio of 16.93, a PEG ratio of 0.90 and a beta of 0.89.

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