Tobam Decreases Position in Davita Inc (DVA)
Tobam cut its holdings in Davita Inc (NYSE:DVA) by 34.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 197,039 shares of the company’s stock after selling 101,826 shares during the quarter. Tobam’s holdings in Davita were worth $14,114,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. OppenheimerFunds Inc. grew its stake in Davita by 58.7% during the second quarter. OppenheimerFunds Inc. now owns 4,066,317 shares of the company’s stock worth $282,365,000 after buying an additional 1,504,347 shares in the last quarter. Boston Partners grew its stake in Davita by 5.0% during the second quarter. Boston Partners now owns 2,137,616 shares of the company’s stock worth $148,436,000 after buying an additional 101,558 shares in the last quarter. Orbimed Advisors LLC grew its stake in Davita by 8.3% during the second quarter. Orbimed Advisors LLC now owns 1,689,400 shares of the company’s stock worth $117,312,000 after buying an additional 129,800 shares in the last quarter. Janus Henderson Group PLC grew its stake in Davita by 3.0% during the second quarter. Janus Henderson Group PLC now owns 1,284,092 shares of the company’s stock worth $89,168,000 after buying an additional 37,362 shares in the last quarter. Finally, Pendal Group Ltd acquired a new stake in Davita during the third quarter worth about $961,000. Institutional investors and hedge funds own 88.20% of the company’s stock.
A number of brokerages have issued reports on DVA. Royal Bank of Canada increased their price objective on shares of Davita from $70.00 to $78.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 8th. Zacks Investment Research upgraded shares of Davita from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Monday, October 8th. ValuEngine upgraded shares of Davita from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Raymond James cut shares of Davita from a “strong-buy” rating to a “market perform” rating in a report on Thursday, November 8th. Finally, JPMorgan Chase & Co. raised shares of Davita from an “underweight” rating to a “neutral” rating in a report on Thursday, September 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $84.75.
Davita (NYSE:DVA) last issued its quarterly earnings data on Wednesday, November 7th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.33). The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.93 billion. Davita had a net margin of 5.39% and a return on equity of 13.87%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.81 EPS. Analysts forecast that Davita Inc will post 3.65 earnings per share for the current fiscal year.
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DaVita Inc provides kidney dialysis services for patients suffering from chronic kidney failure or end stage renal disease (ESRD). The company operates kidney dialysis centers and provides related lab services in outpatient dialysis centers. It also provides outpatient, hospital inpatient, and home-based hemodialysis services; owns 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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