PNC Financial Services Group Inc. Cuts Stock Holdings in DaVita Inc. (NYSE:DVA) (2024)

Posted by Defense World Staff on May 29th, 2024

PNC Financial Services Group Inc. reduced its position in shares of DaVita Inc. (NYSE:DVA – Free Report) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,053 shares of the company’s stock after selling 1,035 shares during the period. PNC Financial Services Group Inc.’s holdings in DaVita were worth $1,472,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its position in shares of DaVita by 62.9% in the third quarter. Teacher Retirement System of Texas now owns 6,680 shares of the company’s stock valued at $631,000 after purchasing an additional 2,579 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of DaVita by 4.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 29,044 shares of the company’s stock valued at $2,746,000 after purchasing an additional 1,282 shares during the last quarter. Ieq Capital LLC acquired a new stake in shares of DaVita in the third quarter valued at approximately $367,000. Victory Capital Management Inc. grew its position in shares of DaVita by 471.6% in the third quarter. Victory Capital Management Inc. now owns 34,866 shares of the company’s stock valued at $3,296,000 after purchasing an additional 28,766 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of DaVita by 17.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 54,270 shares of the company’s stock valued at $5,130,000 after purchasing an additional 7,910 shares during the last quarter. 90.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DaVita

In other DaVita news, Director Barbara J. Desoer sold 5,030 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $138.81, for a total transaction of $698,214.30. Following the completion of the transaction, the director now directly owns 10,954 shares of the company’s stock, valued at approximately $1,520,524.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DVA has been the topic of a number of analyst reports. StockNews.com lowered shares of DaVita from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 6th. Barclays raised their target price on shares of DaVita from $133.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. TheStreet upgraded shares of DaVita from a “c+” rating to a “b-” rating in a research report on Wednesday, February 7th. Truist Financial raised their target price on shares of DaVita from $135.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, May 15th. Finally, UBS Group raised their target price on shares of DaVita from $113.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, DaVita currently has a consensus rating of “Moderate Buy” and an average target price of $144.67.

Get Our Latest Stock Analysis on DaVita

DaVita Price Performance

Shares of DVA stock opened at $143.67 on Wednesday. The firm has a market cap of $12.60 billion, a P/E ratio of 16.33, a P/E/G ratio of 1.06 and a beta of 1.04. The company has a debt-to-equity ratio of 7.95, a current ratio of 1.43 and a quick ratio of 1.37. DaVita Inc. has a 1-year low of $71.51 and a 1-year high of $145.04. The firm has a fifty day moving average of $135.40 and a two-hundred day moving average of $120.05.

DaVita (NYSE:DVA – Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.95 by $0.43. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.03 billion. DaVita had a net margin of 6.61% and a return on equity of 68.52%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.58 EPS. As a group, research analysts anticipate that DaVita Inc. will post 9.62 earnings per share for the current fiscal year.

DaVita Company Profile

(Free Report)

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.

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