HSBC Reduces DaVita Holdings to $20.62 Million Amid Market Changes

HSBC Holdings PLC has decreased its stake in DaVita Inc. (NYSE: DVA) by 4.1% during the second quarter of 2023, according to its latest filing with the U.S. Securities and Exchange Commission. The bank currently holds 144,780 shares, having sold 6,138 shares during this period. As of the most recent filing, HSBC’s investment in DaVita is valued at approximately $20.62 million.

Several other institutional investors have also adjusted their positions in DaVita recently. Notably, the National Pension Service increased its holdings by an impressive 74.3% in the first quarter, bringing its total to 197 shares valued at $30,000 after acquiring an additional 84 shares. Additionally, Hantz Financial Services Inc. raised its stake by 48.1% in the second quarter, now owning 231 shares worth $33,000 following a purchase of 75 shares.

Other investors making moves include Y.D. More Investments Ltd., which initiated a new position valued at approximately $35,000, and Mid American Wealth Advisory Group Inc., which acquired a new stake in DaVita worth around $36,000. Ameritas Advisory Services LLC also entered the fray with a new investment valued at about $47,000. Overall, institutional investors and hedge funds now control 90.12% of DaVita’s stock.

Market Performance and Analyst Reactions

On Wednesday, DaVita’s shares opened at $119.08, reflecting a slight decline of 0.1%. The company currently boasts a market capitalization of $8.41 billion, with a price-to-earnings (P/E) ratio of 12.26 and a P/E growth (P/E/G) ratio of 0.90. DaVita’s stock has experienced a 52-week range, with a low of $113.97 and a high of $179.60.

Analyst ratings for DaVita have seen recent adjustments. On November 28, 2023, Weiss Ratings reaffirmed a “hold (c)” rating for the stock. A report from Zacks Research on the same day upgraded DaVita from a “strong sell” rating to a “hold” rating. Barclays adjusted its price target for DaVita from $149.00 to $143.00, maintaining an “equal weight” rating as of October 30, 2023.

Furthermore, TD Cowen lowered its target from $154.00 to $133.00 while also issuing a “hold” rating on November 3, 2023. Currently, six analysts rate the stock as a hold, while one has issued a sell rating. According to MarketBeat, DaVita has an average rating of “Reduce” with an average target price of $148.00.

DaVita’s Business Overview

DaVita Inc. specializes in providing kidney dialysis services to patients suffering from chronic kidney failure in the United States. The company operates numerous kidney dialysis centers and offers related laboratory services. In addition to outpatient dialysis, DaVita provides hospital inpatient and home-based hemodialysis services.

The firm also runs clinical laboratories that conduct routine tests for dialysis patients and other physician-prescribed laboratory tests for individuals with end-stage renal disease (ESRD). Furthermore, DaVita supplies management and administrative services to outpatient dialysis centers, highlighting its comprehensive approach to kidney care.

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