TIG Advisors LLC Lowers Stake in Davita Inc (NYSE:DVA)

TIG Advisors LLC cut its position in shares of Davita Inc (NYSE:DVA) by 56.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 378,460 shares of the company’s stock after selling 484,540 shares during the quarter. Davita accounts for approximately 0.9% of TIG Advisors LLC’s holdings, making the stock its 20th largest position. TIG Advisors LLC’s holdings in Davita were worth $21,292,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Paloma Partners Management Co purchased a new stake in shares of Davita during the second quarter worth about $997,000. Man Group plc grew its holdings in Davita by 25.7% in the second quarter. Man Group plc now owns 85,639 shares of the company’s stock valued at $4,818,000 after purchasing an additional 17,485 shares during the period. SkyTop Capital Management LLC purchased a new stake in Davita in the second quarter valued at approximately $11,252,000. Viking Global Investors LP grew its holdings in Davita by 5.5% in the second quarter. Viking Global Investors LP now owns 2,907,034 shares of the company’s stock valued at $163,550,000 after purchasing an additional 151,529 shares during the period. Finally, Par Capital Management Inc. grew its holdings in Davita by 40.6% in the second quarter. Par Capital Management Inc. now owns 4,159,000 shares of the company’s stock valued at $233,985,000 after purchasing an additional 1,201,300 shares during the period. Institutional investors and hedge funds own 90.71% of the company’s stock.

DVA traded up $0.37 during trading on Friday, hitting $60.12. 68,946 shares of the company’s stock were exchanged, compared to its average volume of 2,860,421. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 1.90. Davita Inc has a 1 year low of $43.40 and a 1 year high of $79.11. The stock has a 50 day moving average price of $58.55 and a 200 day moving average price of $54.51. The firm has a market cap of $9.88 billion, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 0.61 and a beta of 1.59.

Davita (NYSE:DVA) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.12. Davita had a net margin of 1.21% and a return on equity of 14.67%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. Davita’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts forecast that Davita Inc will post 4.78 earnings per share for the current fiscal year.

A number of equities research analysts recently issued reports on the stock. Robert W. Baird downgraded shares of Davita from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $70.00 to $65.00 in a report on Friday, July 26th. UBS Group lowered their target price on shares of Davita from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. William Blair downgraded shares of Davita from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 11th. ValuEngine downgraded shares of Davita from a “hold” rating to a “sell” rating in a report on Tuesday, August 20th. Finally, TheStreet upgraded shares of Davita from a “c+” rating to a “b-” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Davita presently has a consensus rating of “Hold” and a consensus price target of $67.31.

Davita Company Profile

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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Institutional Ownership by Quarter for Davita (NYSE:DVA)

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