Beese Fulmer Investment Management Inc. Takes Position in DaVita Inc. (NYSE:DVA)

Beese Fulmer Investment Management Inc. purchased a new stake in DaVita Inc. (NYSE:DVA) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 1,750 shares of the company’s stock, valued at approximately $242,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. State of Michigan Retirement System boosted its stake in DaVita by 0.6% during the 4th quarter. State of Michigan Retirement System now owns 15,939 shares of the company’s stock valued at $1,670,000 after purchasing an additional 100 shares during the period. GAMMA Investing LLC boosted its stake in DaVita by 18.8% during the 1st quarter. GAMMA Investing LLC now owns 657 shares of the company’s stock valued at $91,000 after purchasing an additional 104 shares during the period. Treasurer of the State of North Carolina boosted its stake in DaVita by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 24,503 shares of the company’s stock valued at $2,316,000 after purchasing an additional 123 shares during the period. PNC Financial Services Group Inc. boosted its stake in DaVita by 1.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 15,088 shares of the company’s stock valued at $1,426,000 after purchasing an additional 153 shares during the period. Finally, Meridian Wealth Management LLC boosted its stake in DaVita by 2.9% during the 4th quarter. Meridian Wealth Management LLC now owns 5,921 shares of the company’s stock valued at $620,000 after purchasing an additional 166 shares during the period. 90.12% of the stock is owned by institutional investors and hedge funds.

DaVita Stock Up 0.7 %

DVA stock opened at $142.21 on Thursday. DaVita Inc. has a 52 week low of $71.51 and a 52 week high of $147.93. The company has a market capitalization of $12.47 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.09 and a beta of 0.96. The firm’s 50-day moving average is $137.96 and its two-hundred day moving average is $125.02. The company has a current ratio of 1.43, a quick ratio of 1.37 and a debt-to-equity ratio of 7.95.

DaVita (NYSE:DVA) last released its quarterly earnings results on Thursday, May 2nd. The company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.43. DaVita had a net margin of 6.61% and a return on equity of 68.52%. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the previous year, the firm earned $1.58 EPS. DaVita’s revenue was up 6.9% on a year-over-year basis. On average, analysts forecast that DaVita Inc. will post 9.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Barbara J. Desoer sold 5,030 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $138.81, for a total value of $698,214.30. Following the sale, the director now directly owns 10,954 shares in the company, valued at approximately $1,520,524.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on DVA shares. StockNews.com lowered shares of DaVita from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 8th. Barclays boosted their target price on shares of DaVita from $133.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. Finally, Truist Financial boosted their target price on shares of DaVita from $135.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, May 15th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $144.67.

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.