Investors Purchase Large Volume of Put Options on Davita (DVA)
Davita Inc (NYSE:DVA) was the target of unusually large options trading on Friday. Stock investors acquired 1,554 put options on the company. This represents an increase of approximately 1,352% compared to the typical daily volume of 107 put options.
Several research analysts have commented on the company. SunTrust Banks set a $57.00 target price on Davita and gave the stock a “hold” rating in a report on Sunday, October 15th. Royal Bank of Canada cut their target price on Davita from $64.00 to $60.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 8th. Bank of America reaffirmed a “buy” rating and set a $92.00 target price (up from $85.00) on shares of Davita in a report on Thursday. KeyCorp reaffirmed a “hold” rating on shares of Davita in a report on Monday, November 13th. Finally, Wolfe Research raised Davita from a “market perform” rating to an “outperform” rating in a report on Monday, October 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $78.22.
Davita (DVA) opened at $79.13 on Monday. The stock has a market capitalization of $14,500.00, a PE ratio of 30.32, a PEG ratio of 15.78 and a beta of 0.96. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.40 and a quick ratio of 1.35. Davita has a 52 week low of $52.51 and a 52 week high of $80.71.
Davita declared that its Board of Directors has initiated a share repurchase plan on Tuesday, October 10th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In related news, insider James K. Hilger sold 5,608 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $69.46, for a total transaction of $389,531.68. Following the sale, the insider now owns 47,649 shares in the company, valued at approximately $3,309,699.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Leanne M. Zumwalt sold 949 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $68.19, for a total value of $64,712.31. Following the sale, the vice president now owns 12,423 shares in the company, valued at approximately $847,124.37. The disclosure for this sale can be found here. Insiders have sold a total of 117,937 shares of company stock worth $8,028,379 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Davita in the 3rd quarter valued at about $154,000. Country Club Trust Company n.a. acquired a new position in shares of Davita in the 4th quarter valued at about $207,000. Eqis Capital Management Inc. lifted its stake in shares of Davita by 62.5% in the 3rd quarter. Eqis Capital Management Inc. now owns 7,473 shares of the company’s stock valued at $444,000 after purchasing an additional 2,873 shares during the period. Accident Compensation Corp lifted its stake in shares of Davita by 147.5% in the 2nd quarter. Accident Compensation Corp now owns 15,100 shares of the company’s stock valued at $978,000 after purchasing an additional 9,000 shares during the period. Finally, Xact Kapitalforvaltning AB lifted its stake in shares of Davita by 22.8% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 19,851 shares of the company’s stock valued at $1,179,000 after purchasing an additional 3,685 shares during the period. 87.94% of the stock is currently owned by institutional investors.
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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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