Davita (NYSE:DVA) Stock Rating Upgraded by Bank of America
Davita (NYSE:DVA) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, January 4th, Marketbeat reports. The brokerage currently has a $85.00 price target on the stock, up from their previous price target of $75.00. Bank of America’s price target suggests a potential upside of 10.06% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Wolfe Research raised shares of Davita from a “market perform” rating to an “outperform” rating in a research note on Monday, October 23rd. JPMorgan Chase & Co. increased their price objective on shares of Davita from $4.90 to $84.00 and gave the company a “strong-buy” rating in a research note on Thursday, December 7th. SunTrust Banks set a $70.00 price objective on shares of Davita and gave the company a “hold” rating in a research note on Thursday, December 7th. KeyCorp reissued a “hold” rating on shares of Davita in a research note on Wednesday, December 6th. Finally, Robert W. Baird upgraded shares of Davita from a “neutral” rating to an “outperform” rating and upped their target price for the company from $63.00 to $82.00 in a report on Tuesday, December 12th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. Davita currently has a consensus rating of “Hold” and a consensus target price of $78.22.
Davita (DVA) opened at $77.23 on Thursday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.35 and a current ratio of 1.40. Davita has a 12 month low of $52.51 and a 12 month high of $80.71. The firm has a market cap of $14,499.03, a price-to-earnings ratio of 28.67 and a beta of 0.96.
Davita declared that its Board of Directors has authorized a stock buyback program on Tuesday, October 10th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, CEO Javier Rodriguez sold 22,532 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $67.48, for a total transaction of $1,520,459.36. Following the transaction, the chief executive officer now directly owns 210,317 shares in the company, valued at approximately $14,192,191.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Leanne M. Zumwalt sold 949 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $68.19, for a total transaction of $64,712.31. Following the transaction, the vice president now owns 12,423 shares in the company, valued at $847,124.37. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,509 shares of company stock worth $8,310,388. Insiders own 2.00% of the company’s stock.
Large investors have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Davita in the third quarter valued at approximately $154,000. Country Club Trust Company n.a. acquired a new stake in Davita in the fourth quarter valued at approximately $207,000. Berkshire Asset Management LLC PA acquired a new stake in Davita in the fourth quarter valued at approximately $234,000. Ferguson Wellman Capital Management Inc. acquired a new stake in Davita in the fourth quarter valued at approximately $236,000. Finally, IFG Advisory LLC acquired a new stake in Davita in the fourth quarter valued at approximately $205,000. 87.57% of the stock is owned by institutional investors.
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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