Cinctive Capital Management LP Makes New Investment in DaVita Inc. (NYSE:DVA)

Cinctive Capital Management LP bought a new stake in DaVita Inc. (NYSE:DVA) during the third quarter, HoldingsChannel.com reports. The fund bought 61,567 shares of the company’s stock, valued at approximately $10,093,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. acquired a new position in shares of DaVita in the 3rd quarter worth approximately $207,000. Atom Investors LP bought a new position in DaVita during the 3rd quarter valued at about $4,094,000. Erste Asset Management GmbH acquired a new position in DaVita in the third quarter valued at about $454,000. Maverick Capital Ltd. grew its stake in DaVita by 11.5% during the third quarter. Maverick Capital Ltd. now owns 12,886 shares of the company’s stock worth $2,112,000 after buying an additional 1,333 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new position in shares of DaVita in the third quarter valued at approximately $5,441,000. Institutional investors own 90.12% of the company’s stock.

DaVita Stock Performance

DVA stock opened at $166.17 on Monday. The company has a quick ratio of 1.33, a current ratio of 1.37 and a debt-to-equity ratio of 15.78. DaVita Inc. has a twelve month low of $99.18 and a twelve month high of $169.51. The company has a market cap of $13.63 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 0.94 and a beta of 0.89. The business’s fifty day moving average is $158.57 and its 200-day moving average is $149.39.

DaVita (NYSE:DVA) last announced its quarterly earnings results 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 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 was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.85 earnings per share. Equities research analysts forecast that DaVita Inc. will post 9.71 EPS for the current year.

Insider Buying and Selling

In other DaVita news, CEO Javier Rodriguez sold 9,881 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $162.85, for a total transaction of $1,609,120.85. Following the sale, the chief executive officer now directly owns 887,835 shares in the company, valued at approximately $144,583,929.75. This trade represents a 1.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on DVA. Barclays boosted their price objective on DaVita from $150.00 to $164.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Bank of America increased their price target on shares of DaVita from $139.00 to $145.00 and gave the company an “underperform” rating in a research note on Wednesday, August 7th. UBS Group boosted their price objective on shares of DaVita from $169.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Truist Financial raised 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, DaVita has an average rating of “Hold” and an average 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.