Forum Financial Management LP Invests $221,000 in DaVita Inc. (NYSE:DVA)

Forum Financial Management LP acquired a new stake in DaVita Inc. (NYSE:DVA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,348 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Harvard Management Co. Inc. purchased a new position in shares of DaVita during the 2nd quarter worth approximately $55,115,000. Lazard Asset Management LLC raised its holdings in shares of DaVita by 147.3% in 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. Andra AP fonden lifted its position in shares of DaVita by 9.0% in the second quarter. Andra AP fonden now owns 192,300 shares of the company’s stock valued at $26,647,000 after acquiring an additional 15,800 shares in the last quarter. abrdn plc boosted its stake in shares of DaVita by 1.2% during the third quarter. abrdn plc now owns 189,065 shares of the company’s stock valued at $30,719,000 after acquiring an additional 2,180 shares during the last quarter. Finally, Jupiter Asset Management Ltd. increased its position in DaVita by 146.7% during the 1st quarter. Jupiter Asset Management Ltd. now owns 187,177 shares of the company’s stock worth $25,840,000 after purchasing an additional 111,311 shares in the last quarter. 90.12% of the stock is currently owned by hedge funds and other institutional investors.

DaVita Price Performance

Shares of DaVita stock opened at $147.08 on Wednesday. The business’s fifty day moving average price is $157.52 and its 200 day moving average price is $146.43. DaVita Inc. has a twelve month low of $78.05 and a twelve month high of $168.50. The company has a current ratio of 1.37, a quick ratio of 1.33 and a debt-to-equity ratio of 15.78. The stock has a market capitalization of $12.06 billion, a P/E ratio of 15.87, a PEG ratio of 0.80 and a beta of 0.89.

DaVita (NYSE:DVA) last released its quarterly earnings data on Tuesday, October 29th. The company reported $2.59 earnings per share for the quarter, missing the consensus estimate of $2.76 by ($0.17). The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.25 billion. DaVita had a net margin of 6.53% and a return on equity of 88.18%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.85 earnings per share. As a group, research analysts anticipate that DaVita Inc. will post 9.73 earnings per share for the current year.

Insider Transactions at DaVita

In related news, CFO Joel Ackerman sold 64,029 shares of DaVita stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $155.06, for a total transaction of $9,928,336.74. Following the transaction, the chief financial officer now owns 111,481 shares in the company, valued at approximately $17,286,243.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, 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 transaction of $9,928,336.74. Following the transaction, the chief financial officer now directly owns 111,481 shares of the company’s stock, valued at approximately $17,286,243.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Javier Rodriguez sold 32,176 shares of the 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 directly owns 905,659 shares of the company’s stock, valued at $141,219,407.87. This trade 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 valued at $27,387,069 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group raised their price target on shares of DaVita from $169.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Truist Financial boosted their price target on DaVita from $165.00 to $175.00 and gave the company a “hold” rating in a report on Monday, October 7th. TD Cowen raised their price objective on DaVita from $139.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Bank of America upped their target price on DaVita from $139.00 to $145.00 and gave the company an “underperform” rating in a research note on Wednesday, August 7th. Finally, Barclays raised 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DaVita has an average 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.