DaVita (NYSE:DVA) Updates FY24 Earnings Guidance

DaVita (NYSE:DVA) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $9.25-$10.05 for the period, compared to the consensus earnings per share estimate of $9.90. DaVita also updated its FY 2024 guidance to 9.250-10.050 EPS.

DaVita Price Performance

DaVita stock traded down $17.15 during midday trading on Wednesday, reaching $141.16. The company had a trading volume of 3,294,604 shares, compared to its average volume of 817,192. The company has a market capitalization of $11.84 billion, a P/E ratio of 15.67, a P/E/G ratio of 0.90 and a beta of 0.87. DaVita has a 12-month low of $76.17 and a 12-month high of $168.50. The firm’s fifty day simple moving average is $158.40 and its 200-day simple moving average is $146.05. The company has a debt-to-equity ratio of 9.94, a current ratio of 1.16 and a quick ratio of 1.12.

DaVita (NYSE:DVA) last issued 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 company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.25 billion. DaVita had a net margin of 6.86% and a return on equity of 77.00%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.85 earnings per share. As a group, equities analysts anticipate that DaVita will post 9.99 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at DaVita

In other news, CEO Javier Rodriguez sold 32,176 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $155.93, for a total transaction of $5,017,203.68. Following the completion of the sale, the chief executive officer now owns 905,659 shares in the company, valued at $141,219,407.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Javier Rodriguez sold 32,176 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $155.93, for a total transaction of $5,017,203.68. Following the completion of the sale, the chief executive officer now owns 905,659 shares in the company, valued at $141,219,407.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael David Staffieri sold 9,539 shares of the firm’s stock in a transaction that occurred 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 $36,299,008.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 173,482 shares of company stock worth $27,387,069 in the last 90 days. 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.