DaVita HealthCare Partners Inc. (NYSE:DVA) – Stock analysts at KeyCorp lowered their FY2018 earnings per share estimates for DaVita HealthCare Partners in a research note issued to investors on Tuesday. KeyCorp analyst J. Gurda now expects that the company will earn $3.58 per share for the year, down from their prior forecast of $3.90. KeyCorp currently has a “Hold” rating on the stock.
DaVita HealthCare Partners (NYSE:DVA) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. DaVita HealthCare Partners had a return on equity of 14.02% and a net margin of 8.68%. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period last year, the business posted $1.01 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis.
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DVA has been the subject of a number of other reports. BidaskClub downgraded DaVita HealthCare Partners from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Jefferies Group LLC downgraded DaVita HealthCare Partners from a “buy” rating to a “hold” rating and upped their price objective for the stock from $64.89 to $70.00 in a report on Monday, June 26th. Zacks Investment Research downgraded DaVita HealthCare Partners from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. J P Morgan Chase & Co downgraded DaVita HealthCare Partners from a “neutral” rating to an “underweight” rating in a report on Monday. Finally, Royal Bank Of Canada restated a “hold” rating and set a $64.00 price objective on shares of DaVita HealthCare Partners in a report on Wednesday, September 6th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $66.50.
DaVita HealthCare Partners announced that its Board of Directors has approved a stock repurchase plan on Tuesday, October 10th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in DaVita HealthCare Partners by 2.2% during the first quarter. Vanguard Group Inc. now owns 15,080,919 shares of the company’s stock worth $1,025,050,000 after acquiring an additional 331,482 shares during the period. BlackRock Inc. increased its stake in shares of DaVita HealthCare Partners by 2,315.8% in the first quarter. BlackRock Inc. now owns 12,892,477 shares of the company’s stock valued at $876,303,000 after purchasing an additional 12,358,806 shares during the period. State Street Corp increased its stake in shares of DaVita HealthCare Partners by 0.5% in the first quarter. State Street Corp now owns 7,533,514 shares of the company’s stock valued at $512,049,000 after purchasing an additional 38,416 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of DaVita HealthCare Partners by 14.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,879,322 shares of the company’s stock valued at $127,745,000 after purchasing an additional 236,224 shares during the period. Finally, Park West Asset Management LLC increased its stake in shares of DaVita HealthCare Partners by 88.8% in the first quarter. Park West Asset Management LLC now owns 1,856,516 shares of the company’s stock valued at $126,187,000 after purchasing an additional 873,064 shares during the period. Hedge funds and other institutional investors own 83.27% of the company’s stock.
About DaVita HealthCare Partners
DaVita Inc, formerly DaVita HealthCare Partners Inc, operates two divisions: DaVita Kidney Care (Kidney Care) and DaVita Medical Group (DMG). The Kidney Care division consists of its the United States dialysis and related lab services, its ancillary services and strategic initiatives, including its international operations, and its corporate administrative support.
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