TheStreet Downgrades Davita (DVA) to C+

Davita (NYSE:DVA) was downgraded by stock analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued on Thursday.

Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Davita from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research note on Monday, October 8th. JPMorgan Chase & Co. upgraded Davita from an “underweight” rating to a “neutral” rating in a research note on Thursday, September 13th. ValuEngine upgraded Davita from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Royal Bank of Canada upped their target price on Davita from $70.00 to $78.00 and gave the stock a “sector perform” rating in a research note on Thursday. Finally, Raymond James cut Davita from a “strong-buy” rating to a “market perform” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $84.75.

Shares of DVA stock traded down $0.45 during trading on Thursday, hitting $69.70. The company had a trading volume of 2,486,230 shares, compared to its average volume of 1,943,652. The company has a current ratio of 1.90, a quick ratio of 1.88 and a debt-to-equity ratio of 1.82. The stock has a market cap of $12.70 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 0.98 and a beta of 1.09. Davita has a one year low of $53.78 and a one year high of $80.71.

Davita (NYSE:DVA) last issued its quarterly earnings results on Wednesday, November 7th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.33). The company 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 13.37%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 earnings per share. Analysts forecast that Davita will post 4 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DVA. OppenheimerFunds Inc. lifted 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 purchasing an additional 1,504,347 shares during the last quarter. Pendal Group Ltd acquired a new position in shares of Davita during the third quarter worth $961,000. Investec Asset Management LTD increased its holdings in shares of Davita by 114.5% during the second quarter. Investec Asset Management LTD now owns 986,777 shares of the company’s stock worth $68,522,000 after buying an additional 526,847 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Davita by 921.3% during the second quarter. Glenmede Trust Co. NA now owns 337,764 shares of the company’s stock worth $23,454,000 after buying an additional 304,693 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Davita by 46.9% during the second quarter. Morgan Stanley now owns 946,208 shares of the company’s stock worth $65,704,000 after buying an additional 302,027 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

About Davita

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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