DaVita (DVA) PT Trimmed to $90 at Piper Jaffray Post Q3; Maintains 'Overweight'
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Rating Summary:
7 Buy, 13 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
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Piper Jaffray analyst Kevin Ellich lowered his price target on DaVita (NYSE: DVA) to $90.00 (from $92.00) but maintained an Overweight rating.
Ellich commented, "While Q3 results beat Street estimates and HCP's operating income improved, DVA faces a number of potential headwinds that could reduce HCP's operating income in 2016. Normalized dialysis non-acquired treatment growth of 3.5% was lower than expected and continues to be affected by delays in dialysis clinic certifications, primarily in California. We believe this issue could linger as DVA expects non-acquired treatment growth at the low end of the 3% to 4.5% range. FY15 operating income guidance was narrowed and DVA continues to deploy capital on acquisitions and share repurchases. Maintain Overweight rating and lowering PT to $90."
The firm bumped FY 2015 EPS from $3.72 to $3.77 and trimmed FY 2016 EPS from $4.30 to $4.18.
For an analyst ratings summary and ratings history on DaVita click here. For more ratings news on DaVita click here.
Shares of DaVita closed at $77.60 yesterday.
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