Convergence Investment Partners LLC Has $1.15 Million Stake in Davita Inc (NYSE:DVA)

Convergence Investment Partners LLC grew its holdings in shares of Davita Inc (NYSE:DVA) by 26.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,581 shares of the company’s stock after acquiring an additional 3,027 shares during the quarter. Convergence Investment Partners LLC’s holdings in Davita were worth $1,154,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. CIBC Asset Management Inc raised its position in shares of Davita by 1.3% during the second quarter. CIBC Asset Management Inc now owns 10,462 shares of the company’s stock worth $828,000 after purchasing an additional 138 shares during the period. M&T Bank Corp raised its position in shares of Davita by 2.6% during the second quarter. M&T Bank Corp now owns 5,604 shares of the company’s stock worth $443,000 after purchasing an additional 143 shares during the period. First Quadrant L P CA raised its position in shares of Davita by 3.9% during the first quarter. First Quadrant L P CA now owns 3,844 shares of the company’s stock worth $292,000 after purchasing an additional 144 shares during the period. First Hawaiian Bank raised its position in shares of Davita by 6.2% during the first quarter. First Hawaiian Bank now owns 2,911 shares of the company’s stock worth $221,000 after purchasing an additional 171 shares during the period. Finally, First Manhattan Co. raised its position in shares of Davita by 178.5% during the first quarter. First Manhattan Co. now owns 401 shares of the company’s stock worth $30,000 after purchasing an additional 257 shares during the period. 91.42% of the stock is owned by hedge funds and other institutional investors.

Shares of Davita stock traded down $3.73 during trading hours on Friday, hitting $87.39. 1,830,827 shares of the company’s stock traded hands, compared to its average volume of 736,563. Davita Inc has a 12-month low of $53.51 and a 12-month high of $92.16. The stock has a market capitalization of $10.64 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.63 and a beta of 1.20. The company has a fifty day simple moving average of $81.67 and a 200-day simple moving average of $79.28. The company has a debt-to-equity ratio of 5.24, a current ratio of 1.81 and a quick ratio of 1.77.

Davita (NYSE:DVA) last announced its earnings results on Thursday, July 30th. The company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.65. Davita had a return on equity of 40.83% and a net margin of 7.20%. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.91 billion. On average, analysts forecast that Davita Inc will post 6.13 EPS for the current fiscal year.

A number of brokerages have recently weighed in on DVA. SunTrust Banks upped their target price on Davita from $90.00 to $100.00 and gave the stock a “hold” rating in a research report on Friday. Royal Bank of Canada reissued a “hold” rating and issued a $75.00 price target on shares of Davita in a research report on Monday, April 20th. Zacks Investment Research raised Davita from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Wednesday, June 10th. Finally, ValuEngine lowered Davita from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Davita has a consensus rating of “Hold” and a consensus price target of $73.71.

In other news, Chairman Kent J. Thiry sold 5,390 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $81.18, for a total transaction of $437,560.20. Following the completion of the transaction, the chairman now owns 283,369 shares in the company, valued at approximately $23,003,895.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Berg sold 357 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $87.53, for a total value of $31,248.21. Following the transaction, the director now owns 15,666 shares of the company’s stock, valued at approximately $1,371,244.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,109 shares of company stock valued at $989,903. Insiders own 1.00% of the company’s stock.

Davita 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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