The Manufacturers Life Insurance Company Sells 5,993 Shares of DaVita Inc. (NYSE:DVA)

The Manufacturers Life Insurance Company cut its holdings in shares of DaVita Inc. (NYSE:DVA) by 13.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,251 shares of the company’s stock after selling 5,993 shares during the period. The Manufacturers Life Insurance Company’s holdings in DaVita were worth $6,434,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DVA. Bank of Montreal Can increased its position in shares of DaVita by 0.9% during the third quarter. Bank of Montreal Can now owns 60,929 shares of the company’s stock worth $9,936,000 after purchasing an additional 520 shares in the last quarter. Harvest Fund Management Co. Ltd grew its stake in DaVita by 14.4% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 11,142 shares of the company’s stock worth $1,826,000 after buying an additional 1,399 shares during the last quarter. Daiwa Securities Group Inc. increased its position in DaVita by 6.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 6,187 shares of the company’s stock valued at $1,014,000 after buying an additional 348 shares in the last quarter. Summit Trail Advisors LLC raised its stake in DaVita by 1.3% in the third quarter. Summit Trail Advisors LLC now owns 23,309 shares of the company’s stock valued at $3,821,000 after buying an additional 294 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in DaVita in the third quarter worth about $765,000. 90.12% of the stock is owned by hedge funds and other institutional investors.

DaVita Trading Down 1.2 %

Shares of DaVita stock opened at $161.39 on Friday. The firm has a 50-day simple moving average of $158.65 and a two-hundred day simple moving average of $149.93. The company has a debt-to-equity ratio of 15.78, a quick ratio of 1.33 and a current ratio of 1.37. DaVita Inc. has a fifty-two week low of $103.40 and a fifty-two week high of $169.51. The company has a market cap of $13.23 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 0.93 and a beta of 0.90.

DaVita (NYSE:DVA) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.25 billion. DaVita had a return on equity of 88.18% and a net margin of 6.53%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.85 earnings per share. As a group, equities analysts predict that DaVita Inc. will post 9.71 earnings per share for the current fiscal year.

Insider Activity at DaVita

In related news, CEO Javier Rodriguez sold 50,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $165.05, for a total value of $8,252,500.00. Following the completion of the sale, the chief executive officer now owns 837,835 shares of the company’s stock, valued at approximately $138,284,666.75. This trade represents a 5.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DVA. UBS Group lifted their target price 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. Barclays lifted their price objective on shares of DaVita from $150.00 to $164.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Truist Financial upped their target price on DaVita from $165.00 to $175.00 and gave the company a “hold” rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $161.80.

DaVita Profile

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.