Davita Inc Stock Price, News & Analysis

DaVita reported challenging third-quarter results for the period ending September 30, 2022, with consolidated revenues of $2.949 billion and diluted earnings per share at $1.13. Labor pressures and COVID-related volume declines adversely impacted their financials. Operating income fell to $312 million, down from $433 million in the previous quarter. While the company repurchased 2.1 million shares, net income was significantly reduced to $105 million compared to $225 million in the prior quarter. Despite these challenges, DaVita remains confident in its kidney care platform.

DaVita Inc. (NYSE: DVA) announced its quarterly conference call scheduled for October 28, 2022, at 8:30 a.m. ET, to discuss its third quarter results. The results will be released before the market opens on the same day. The call will be available via webcast on DaVita's IR webpage. As of June 30, 2022, DaVita served 198,000 patients at 2,808 outpatient dialysis centers in the U.S. and operates 349 outpatient dialysis centers in 11 countries. The company continues to focus on improving kidney care and quality of life for patients globally.

The DaVita Giving Foundation has announced a $1.4 million grant to the Food Is Medicine Coalition to support medically-tailored meals for individuals with chronic medical conditions. This initiative aims to address food insecurity, which affects 10% of the U.S. population, particularly impacting kidney health. The grant will provide over 100,000 meals through nonprofit organizations in Sacramento, Los Angeles, Minneapolis, and Orlando. DaVita's commitment reinforces its strategy to enhance community health and patient care.

On September 13, 2022, DaVita Inc. announced the appointment of Adam H. Schechter as an independent director to its Board, effective September 20, 2022. Schechter, currently CEO of Labcorp, has over 30 years of experience in healthcare, previously holding leadership roles at Merck & Co.. His extensive experience in the healthcare ecosystem aims to enhance DaVita's mission of improved patient care. Mr. Schechter will also serve on the Audit and Compliance & Quality Committees. DaVita is a leading kidney care provider, serving 198,000 patients at 2,810 centers in the U.S.

Federman & Sherwood has launched an investigation into DaVita, Inc. (NYSE: DVA) due to a significant data breach confirmed on September 8, 2022. The breach involved unauthorized access to sensitive consumer data, affecting individuals' names, addresses, Social Security numbers, medical, and health insurance information. DaVita operates approximately 2,816 outpatient dialysis centers across the United States, raising concerns over consumer data protection and potential legal implications from the breach.

DaVita Inc. reported its financial results for Q2 2022, highlighting consolidated revenues of $2.927 billion and a net income of $225 million.

Operating income reached $433 million, with diluted EPS at $2.30. Despite challenges like a global pandemic and supply chain issues, performance showed resilience with 7,269,160 total dialysis treatments conducted.

The company repurchased 3.9 million shares at an average cost of $95.56 per share, reflecting a commitment to shareholder value.

The American Diabetes Association (ADA) and DaVita announced the launch of a digital platform aimed at combating diabetes-related kidney complications on July 25, 2022. This initiative targets the one in seven U.S. adults affected by diabetes, which is the leading cause of chronic kidney disease (CKD). The platform offers resources including Kidney Smart classes, meal planning, and physician engagement tips to empower diabetes patients. Dr. Robert Gabbay of ADA emphasized the importance of understanding the diabetes-kidney connection to improve health outcomes.

DaVita Inc. (NYSE: DVA) announced its quarterly conference call to discuss second quarter results on August 1, 2022, at 5:00 p.m. ET. Results will be released after market close the same day. Investors can access the call via dial-in at 877-918-6630 or through a webcast at the DaVita IR website. As of March 31, 2022, DaVita served 200,800 patients across 2,809 outpatient dialysis centers in the U.S. and 346 centers in other countries, focusing on improving kidney care quality.

Rockwell Medical (RMTI) has successfully closed a $7.5 million second tranche investment from DaVita (DVA), bringing the total capital raised this quarter to $30 million. This funding will extend Rockwell's cash runway to advance its Ferric Pyrophosphate Citrate (FPC) development programs and improve their dialysis business. They are preparing for a Phase 2 clinical trial of FPC in home infusion patients, pending FDA clearance, which will require a microbial challenge study to ensure patient safety.