DaVita (NYSE: DVA) boosts open-ended stock buyback by $2B

Rhea-AI Filing Summary

DaVita Inc. reported that its board of directors has increased the authorization under its existing share repurchase program by an additional $2,000,000,000. This new repurchase authority is in addition to the amount remaining under the share repurchase program originally authorized on September 5, 2024, and it has no expiration date.

The company is not obligated to buy back any shares and may conduct repurchases in the open market or through privately negotiated transactions, including under its share repurchase agreement dated April 30, 2024 with Berkshire Hathaway Inc., as well as through accelerated share repurchases, derivatives, tender offers or Rule 10b5-1 plans. The timing and size of any repurchases will depend on market conditions, legal and contractual limits, and other factors, and DaVita can modify, suspend or discontinue the program at any time.

Insights

Equity capital markets analyst

DaVita adds $2B of flexible, open-ended share repurchase capacity.

DaVita’s board has approved an additional $2,000,000,000 of share repurchase authorization, on top of the remaining capacity from its September 5, 2024 program. Because the authorization has no expiration date and does not obligate the company to repurchase stock, it primarily expands the company’s flexibility to return capital to shareholders when conditions are favorable.

The disclosure lists multiple permitted methods, including open market purchases, privately negotiated deals, activity under the April 30, 2024 Berkshire Hathaway share repurchase agreement, accelerated repurchases, derivatives, tender offers and Rule 10b5-1 plans. Actual buyback activity will depend on factors such as market prices, regulatory and legal constraints, contractual limits under current senior secured credit facilities, and internal capital needs.

The company emphasizes that it can increase, decrease, suspend or discontinue repurchases at any time, and that there is no assurance about the number of shares or aggregate dollar amount ultimately repurchased. Future quarterly and annual reports may provide more clarity on how much of this new authorization is actually used over time.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 Form 8-K 

 CURRENT REPORT

 Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (date of earliest event reported): August 20, 2025  

DAVITA INC.

(Exact name of registrant as specified in its charter)

DE			1-14106			51-0354549
(State or other jurisdiction of incorporation)			(Commission File Number)			(IRS Employer Identification No.)

 

2000 16th Street
Denver,			CO			80202

(Address of principal executive offices including Zip Code)

(720) 631-2100

(Registrant’s telephone number, including area code)

Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 240.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:

Trading symbol(s):

Name of each exchange on which registered:

Common Stock, $0.001 par value

DVA

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐    Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01. Other Events.

On August 20, 2025, the board of directors (the “Board”) of DaVita Inc. (the “Company”) increased the authorization under the Company’s existing share repurchase program by $2,000,000,000 in additional repurchasing authority (the “New Authorization”). The amount of shares of common stock authorized to be repurchased under the New Authorization does not include the amount remaining under the Company’s existing share repurchase program authorized on September 5, 2024 (the “Existing Authorization”). The Existing Authorization and the New Authorization do not have an expiration date and do not obligate the Company to purchase any shares. Repurchases under the New Authorization and the Existing Authorization may take place in the open market or in privately negotiated transactions, including without limitation, pursuant to the Company’s share repurchase agreement, dated as of April 30, 2024 with Berkshire Hathaway Inc. (the “Berkshire Share Repurchase Agreement”), on behalf of itself and its affiliates, through accelerated share repurchase transactions, derivative transactions, tender offers, Rule 10b5-1 plans or any combination of the foregoing. There can be no assurance as to the precise number of shares that will be repurchased under the Existing Authorization or the New Authorization, the aggregate dollar amount of the shares purchased, or the ultimate disposition of the shares purchased (re-issued, retained in treasury and/or retired). Depending on market conditions, regulatory, legal and contractual requirements and other factors, repurchases may be made at any time or from time to time, without prior notice. The Company may suspend or discontinue the Existing Authorization and/or the New Authorization, or increase or decrease the amount of shares authorized to be repurchased thereunder, at any time. The Company remains subject to certain share repurchase limitations, including under the terms of its current senior secured credit facilities.

Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements within the meaning of the federal securities laws. All such statements in this report, other than statements of historical fact, are forward-looking statements. Words such as “expect,” “intend,” “will,” “plan,” “anticipate,” “may,” “believe,” “continue,” and similar expressions are intended to identify forward-looking statements. The Company bases its forward-looking statements on information available to it on the date of this report, and undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of changed circumstances, new information, future events or otherwise, except as may otherwise be required by law. Actual results and other events could differ materially from any forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. These risks and uncertainties include, among other things, the risk factors set forth in the Company’s reports on Form 10-K and Form 10-Q and the other risks and uncertainties discussed in any subsequent reports that the Company files with the Securities and Exchange Commission from time to time.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			DAVITA INC.
Date: August 20, 2025			By:			/s/ Joel Ackerman
						Joel Ackerman
						Chief Financial Officer and Treasurer

FAQ

What did DaVita (DVA) announce in this 8-K filing?

DaVita’s board increased the authorization under its existing share repurchase program by an additional $2,000,000,000, expanding the amount of common stock the company is authorized to repurchase.

Does DaVita’s new $2 billion share repurchase authorization have an expiration date?

No. Both the new $2,000,000,000 authorization and the existing authorization from September 5, 2024 do not have an expiration date.

Is DaVita required to repurchase shares under this expanded buyback authorization?

No. The company is not obligated to purchase any shares, and it may increase, decrease, suspend, or discontinue repurchases under the authorizations at any time.

How can DaVita execute share repurchases under the authorization?

Repurchases may occur in the open market or via privately negotiated transactions, including under the April 30, 2024 Berkshire Hathaway share repurchase agreement, as well as through accelerated share repurchases, derivative transactions, tender offers, Rule 10b5-1 plans, or a combination of these methods.

Are there limits on DaVita’s ability to repurchase shares under this program?

Yes. DaVita notes it remains subject to certain share repurchase limitations, including those under the terms of its current senior secured credit facilities.

Will DaVita disclose how many shares it ultimately repurchases under the new authorization?

The company states there can be no assurance regarding the precise number of shares or aggregate dollar amount repurchased. Details of actual buyback activity would typically appear in future periodic reports.