Davita (NYSE:DVA) Lifted to “Buy” at Bank of America

Davita (NYSE:DVA) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a report issued on Thursday, January 4th, Marketbeat Ratings reports. The brokerage currently has a $85.00 target price on the stock, up from their prior target price of $75.00. Bank of America’s price target indicates a potential upside of 8.88% from the company’s current price.

DVA has been the topic of several other research reports. SunTrust Banks set a $57.00 price target on Davita and gave the company a “hold” rating in a report on Sunday, October 15th. Royal Bank of Canada reduced their target price on Davita from $64.00 to $60.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 8th. KeyCorp restated a “hold” rating on shares of Davita in a report on Monday, November 13th. Wolfe Research upgraded Davita from a “market perform” rating to an “outperform” rating in a report on Monday, October 23rd. Finally, JPMorgan Chase & Co. cut Davita from a “neutral” rating to an “underweight” rating in a report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $76.00.

Davita (DVA) opened at $78.07 on Thursday. Davita has a 12 month low of $52.51 and a 12 month high of $78.12. The stock has a market capitalization of $14,310.00, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 15.06 and a beta of 0.96. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.35 and a current ratio of 1.40.

Davita (NYSE:DVA) last announced its earnings results on Tuesday, November 7th. The company reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.13). Davita had a net margin of 3.40% and a return on equity of 13.31%. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter last year, the business posted $0.95 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. equities analysts anticipate that Davita will post 3.42 EPS for the current fiscal year.

Davita announced that its Board of Directors has initiated a share buyback plan on Tuesday, October 10th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

In other news, insider Charles Berg sold 7,048 shares of Davita stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $69.24, for a total transaction of $488,003.52. Following the completion of the transaction, the insider now directly owns 5,359 shares in the company, valued at approximately $371,057.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James K. Hilger sold 5,608 shares of Davita stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $69.46, for a total value of $389,531.68. Following the transaction, the insider now owns 47,649 shares of the company’s stock, valued at $3,309,699.54. The disclosure for this sale can be found here. In the last three months, insiders sold 117,937 shares of company stock worth $8,028,379. 2.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in shares of Davita by 4.4% during the 3rd quarter. Rhumbline Advisers now owns 321,155 shares of the company’s stock valued at $19,073,000 after acquiring an additional 13,471 shares during the period. Riverhead Capital Management LLC raised its holdings in shares of Davita by 10.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 112,506 shares of the company’s stock worth $7,286,000 after buying an additional 10,775 shares in the last quarter. Founders Capital Management LLC raised its holdings in shares of Davita by 2.3% during the 3rd quarter. Founders Capital Management LLC now owns 95,939 shares of the company’s stock worth $5,698,000 after buying an additional 2,115 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its holdings in Davita by 1,987.3% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 41,746 shares of the company’s stock worth $2,448,000 after purchasing an additional 39,746 shares in the last quarter. Finally, Speece Thorson Capital Group Inc. increased its holdings in Davita by 14.5% in the 3rd quarter. Speece Thorson Capital Group Inc. now owns 321,182 shares of the company’s stock worth $19,075,000 after purchasing an additional 40,667 shares in the last quarter. Institutional investors and hedge funds own 87.94% of the company’s stock.

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About Davita

DaVita Inc, formerly DaVita HealthCare Partners Inc, operates two divisions: DaVita Kidney Care (Kidney Care) and DaVita Medical Group (DMG). The Kidney Care division consists of its the United States dialysis and related lab services, its ancillary services and strategic initiatives, including its international operations, and its corporate administrative support.

Analyst Recommendations for Davita (NYSE:DVA)

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