State of Michigan Retirement System Trims Stock Holdings in DaVita Inc. (NYSE:DVA)

State of Michigan Retirement System decreased its stake in DaVita Inc. (NYSE:DVA) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,239 shares of the company’s stock after selling 700 shares during the quarter. State of Michigan Retirement System’s holdings in DaVita were worth $2,112,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. grew its position in shares of DaVita by 58.6% during the second quarter. Blue Trust Inc. now owns 211 shares of the company’s stock worth $29,000 after purchasing an additional 78 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of DaVita during the fourth quarter worth about $30,000. Principal Securities Inc. purchased a new stake in shares of DaVita during the fourth quarter worth about $37,000. Family Firm Inc. purchased a new stake in shares of DaVita during the second quarter worth about $43,000. Finally, Versant Capital Management Inc grew its position in shares of DaVita by 90.6% during the second quarter. Versant Capital Management Inc now owns 326 shares of the company’s stock worth $45,000 after purchasing an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 90.12% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group increased their target price on DaVita from $169.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Truist Financial increased their target price on DaVita from $150.00 to $165.00 and gave the stock a “hold” rating in a research report on Tuesday, August 20th. Bank of America raised their price target on DaVita from $139.00 to $145.00 and gave the company an “underperform” rating in a report on Wednesday, August 7th. TD Cowen raised their price target on DaVita from $139.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Finally, StockNews.com cut DaVita from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 8th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $157.00.

Insider Buying and Selling

In related news, CEO Javier Rodriguez sold 32,176 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $155.93, for a total transaction of $5,017,203.68. Following the completion of the sale, the chief executive officer now directly owns 905,659 shares of the company’s stock, valued at approximately $141,219,407.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Michael David Staffieri sold 9,539 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $150.03, for a total transaction of $1,431,136.17. Following the completion of the sale, the chief operating officer now directly owns 241,945 shares of the company’s stock, valued at approximately $36,299,008.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Javier Rodriguez sold 32,176 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $155.93, for a total value of $5,017,203.68. Following the sale, the chief executive officer now directly owns 905,659 shares of the company’s stock, valued at $141,219,407.87. The disclosure for this sale can be found here. In the last three months, insiders sold 49,572 shares of company stock valued at $7,597,112. Insiders own 2.00% of the company’s stock.

DaVita Price Performance

NYSE:DVA opened at $153.57 on Thursday. The firm has a market capitalization of $13.47 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 0.87 and a beta of 0.87. DaVita Inc. has a 1 year low of $71.51 and a 1 year high of $156.44. The business has a 50 day simple moving average of $142.05 and a 200-day simple moving average of $137.28. The company has a debt-to-equity ratio of 9.94, a current ratio of 1.16 and a quick ratio of 1.12.

DaVita (NYSE:DVA) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.12. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. DaVita had a return on equity of 77.00% and a net margin of 6.86%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the company earned $2.08 EPS. Equities analysts forecast that DaVita Inc. will post 9.99 EPS for the current year.

About DaVita

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.