DaVita Inc.
Built from real-time financials, refreshed daily. For a full Analyst Grade with bull/bear case, price targets, and qualitative risk analysis, generate a DVA research report →
Range $215 – $270
Price Chart
About the company
DaVita Inc. specializes in delivering essential kidney dialysis treatments and comprehensive renal care to individuals grappling with chronic kidney failure. The company primarily operates an extensive network of outpatient dialysis centers, supplementing this with services provided in hospital inpatient settings and within patients' homes.
- CEO
- Javier J. Rodriguez
- IPO
- 1995
- Employees
- 78,000
- HQ
- Denver, CO, US
Get TickerSpark's AI analysis on DVA
Create an account to generate AI analysis on any ticker — technical setup, analyst consensus, earnings watch, insider pulse, financial health, and peer context. Ready in about a minute.
Get Pro Access →Already have an account? Log in
Similar companies
Peers in the same neighborhood.
- Market Cap
- $11.26B
- P/E
- 15.09
- Fwd P/E
- 11.82
- PEG
- 1.29
- P/S
- 0.80
- P/B
- -14.86
- EV/EBITDA
- 7.74
- Div Yield
- 0.00%
- Gross Margin
- 31.02%
- Op Margin
- 15.06%
- Net Margin
- 6.05%
- ROE
- -123.56%
- ROIC
- 11.18%
Latest fiscal year · YoY change
- Revenue
- $13.64B+6.5%
- Gross Profit
- $3.68B-12.6%
- Op Income
- $2.01B
- Net Income
- $746.80M-20.2%
- EPS
- $9.72-11.8%
- OCF Growth
- -6.7%
- FCF Growth
- -10.6%
- 52W High
- $247.49
- 52W Low
- $101.00
- 50D MA
- $215.35
- 200D MA
- $160.64
- Beta
- 0.87
- RSI (14)
- 25
- Avg Volume
- 856.85K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
DaVita said Q2 results were broadly in line with expectations, with improving treatment volumes and reaffirmed full-year 2026 guidance despite softer revenue-per-treatment trends and continued mix pressure.· August 4, 2026
- Q2 adjusted operating income was $579 million and adjusted EPS was $4.02; free cash flow was $256 million.
- U.S. dialysis treatments rose 56 basis points versus Q2 2025, with management saying volume growth was slightly better than expected due mainly to lower mortality.
- Revenue per treatment fell about $2 sequentially, pressured by lower commercial mix from expired ACA subsidies and lower phosphate-binder revenue.
- The company reaffirmed 2026 guidance, including a $2.2 billion midpoint for adjusted operating income and $14.65 midpoint for adjusted EPS.
- DaVita highlighted the MOTheR trial and said it expects to begin broadly deploying expanded HD in coming quarters, while noting the near-term financial impact is not significant.
Second quarter adjusted operating income was $579 million, adjusted earnings per share was $4.02, and free cash flow was $256 million. U.S. dialysis treatments increased 56 basis points versus Q2 2025, and treatments per normalized day also increased 56 basis points. Revenue per treatment declined by approximately $2 sequentially, while patient care cost per treatment declined approximately $3 sequentially. Year-to-date revenue per treatment was 3.6% higher than the first half of 2025, and management still expects full-year 2026 RPT growth of 1% to 2%. Full-year 2026 treatment growth is now expected near the top end of the prior 25 to 50 basis point range, and total cost per treatment is still expected to grow between 1.25% and 2.25%. The company reaffirmed full-year 2026 guidance with a midpoint of $2.2 billion for adjusted operating income and $14.65 for adjusted EPS, and said it expects Q3 to be $50 million to $100 million lower than Q4, largely due to IKC timing.
Javier Rodriguez framed the quarter as evidence that DaVita’s strategy is gaining traction, citing improving patient outcomes, better-than-expected volume trends, and a more favorable clinical backdrop. He emphasized the success of the phosphate-binder transition, support for CMS’ direction on bundle policy, and the importance of middle-molecule clearance as a clinical platform for long-term growth. His tone was constructive and confident, especially around expanded HD, which he said DaVita can roll out quickly with secured supply and existing machines.
Joel Ackerman said the quarter’s financial performance was shaped by offsetting factors: better volume and lower mortality helped, but higher cost per treatment, lower commercial mix, and lower phosphate-binder revenue pressured results. He pointed to enterprise OI up about 5%, U.S. dialysis G&A growth of roughly 10%, and a leverage ratio of 3.37x consolidated EBITDA, within the 3 to 3.5x target range. He also noted $200 million invested in Elara Caring, $500 million of incremental debt issued and used primarily to repay revolver borrowings, and 2.2 million shares repurchased in Q2 plus 183,000 shares after quarter-end.
Analysts focused on why U.S. dialysis operating income was flat despite stronger treatment growth, with management pointing to elevated revenue-per-treatment pressure, higher cost-per-treatment growth, and G&A growth as the main offsets. Questions also centered on the source of volume gains, where management said the improvement was mainly mortality-driven rather than from new patient starts, and on the impact of commercial mix changes from ACA exchange enrollment, which they said should keep driving a roughly $40 million headwind this year. On expanded HD, management said the economics are not significant in 2026 and likely not until a mortality benefit appears later, which Joel Ackerman said would not be expected until 2028.
DaVita said volume trends are improving, with treatment growth tracking toward the top end of guidance and mortality improvements continuing over multiple quarters. The company also sees a meaningful clinical and operational opportunity in middle-molecule clearance, with expanded HD supported by new dialyzer supply and the ability to deploy it on existing machines.
Revenue per treatment is under pressure from a declining commercial mix, lower phosphate-binder revenue, and the drag from expired ACA subsidies, and management expects second-half RPT growth to turn slightly negative versus last year. Cost per treatment growth and G&A remain elevated, and management said the financial benefit from expanded HD will be limited near term, with no meaningful positive mortality-related economic impact expected until 2028.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 97.9%
- Shares Outstanding
- 64.20M
- Float Shares
- 62.87M
of shares held by institutions
610 13F filers
Buy/sell ratio 0.64. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for DVA, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Julie JohnsonHouse · TX32 | Buy | Sep 23, 25 | Filing → |
| Julie JohnsonHouse · TX32 | Sell | Sep 23, 25 | Filing → |
| Julie JohnsonHouse · TX32 | Sell | Sep 25, 25 | Filing → |
| Ro KhannaHouse · CA17 | Sell | Sep 5, 25 | Filing → |
| Jerry MoranSenate · KS | Sell | Dec 14, 23 | Filing → |
| Jerry MoranSenate · KS | Sell | Dec 14, 23 | Filing → |
| Tommy TubervilleSenate · AL | Sell | Dec 12, 23 | Filing → |
| Tommy TubervilleSenate · AL | Sell | Jun 12, 23 | Filing → |
| Ro KhannaHouse · CA17 | Sell | Jun 29, 23 | Filing → |
| Ro KhannaHouse · CA17 | Buy | May 19, 23 | Filing → |
| Ro KhannaHouse · CA17 | Sell | Mar 24, 23 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Feb 14, 23 | Filing → |
| Jerry MoranSenate · KS | Sell | Dec 21, 21 | Filing → |
| Jerry MoranSenate · KS | Buy | Dec 6, 18 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Berkshire Hathaway Inc | 28.88M | ▼ 1.22M |
| Vanguard Group Inc | 4.15M | ▼ 73.55K |
| Blackrock, Inc. | 2.46M | ▼ 305.76K |
| Vanguard Capital Management LLC | 2.10M | ▼ 78.80K |
| Morgan Stanley | 1.60M | ▼ 64.33K |
| State Street Corp | 1.32M | ▼ 28.72K |
| Invesco Ltd. | 1.21M | ▼ 255.96K |
| Dimensional Fund Advisors LP | 1.14M | ▼ 7.62K |
| Neuberger Berman Group LLC | 925.58K | ▲ 393.49K |
| Lsv Asset Management | 908.39K | ▼ 22.67K |
| Arrowstreet Capital, Limited Partnership | 889.08K | ▼ 221.07K |
| Geode Capital Management, LLC | 853.60K | ▼ 86.18K |
Held by 831 ETFs
Biggest fund positions in DVA by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 15, 26 | Hollar Jason M. | other | 278 |
| Aug 15, 26 | DESOER BARBARA J | other | 278 |
| Aug 15, 26 | Schechter Adam H | other | 278 |
| Aug 15, 26 | Moore Gregory J. | other | 278 |
| Aug 15, 26 | Pullin Dennis W | other | 278 |
| Aug 15, 26 | Schoppert Wendy Lee | other | 278 |
| Aug 15, 26 | Arway Pamela M | other | 278 |
| Aug 15, 26 | YALE PHYLLIS R | other | 278 |
| Jul 31, 26 | BERKSHIRE HATHAWAY INC | sell | 182,980 |
| Jun 15, 26 | Waters Kathleen Alyce | sell | 8,950 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our DVA coverage
Recent articles, reports, and earnings notes.
No research on DVA yet
For a full analyst-grade research report — grades, price targets, financials, chart analysis — generate one on demand.
Generate DVA report →Bank of America Corp DE Cuts Holdings in DaVita Inc. $DVA
defenseworld.net · Aug 15
Is DaVita (DVA) a Great Value Stock Right Now?
zacks.com · Aug 6
DaVita Stock Down in Pre-Market Despite Q2 Earnings Beat, Margins Down
zacks.com · Aug 5
DVA Q2 Earnings Call Centers on Clinical-Led Volume Growth
zacks.com · Aug 5
DaVita Q2 Earnings Call Highlights
marketbeat.com · Aug 5
DaVita Inc (DVA) (Q2 2026) Earnings Call Highlights: Strong Volume Growth and Strategic Execution Drive Confidence
gurufocus.com · Aug 5
DaVita Inc. (DVA) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 4
DaVita flags lower revenue per treatment, reaffirms annual forecast
reuters.com · Aug 4
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.