📈 Price History

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About

DaVita Inc. provides kidney dialysis services for patients suffering from chronic kidney failure in the United States.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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⭐ Superinvestors Holding DVA

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Manager	Shares	Value	% of Fund	Period
Warren Buffett Berkshire Hathaway Inc	15.13M	$2.3B	0.88%	Mar 2026
Warren Buffett Berkshire Hathaway Inc	14.97M	$2.3B	0.87%	Mar 2026
Jim Simons Renaissance Technologies LLC	189.2K	$29.1M	0.05%	Mar 2026
Steve Cohen Point72 Asset Management	21.9K	$3.4M	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Mixed → Stable 4 quarters analysed

Q2 2025

Mixed

but openly acknowledges headwinds from the cyber incident, higher mistreatment rates, and a lowered volume outlook. Language such as 'solid quarter', 'delivered on our financial commitments' is balanced with 'not yet achieving our volume growth objectives' and 'mistreatment rate... elevated'.

Q3 2025

Mixed

while also acknowledging multiple uncertainties for 2026 such as payer mix policy debates, IKC timing, and volume headwinds. The tone balances reassurance about near-term execution with caution about the dynamic environment.

Q4 2025

Mixed

'delivered on commitments', 'first profitable year in IKC', and 'guidance exceeds long-term targets'. They provided specific numbers and clear roadmaps, showing confidence despite acknowledged headwinds.

Q1 2026 latest

Mixed

using phrases like 'strong financial result ahead of expectations' and 'balanced outperformance from each element of our U.S. dialysis trilogy'. They provided specific guidance increases and concrete examples of technology investments.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is stronger after this call. DaVita delivered a Q1 beat across all key metrics and raised full-year guidance on volume and earnings. The balanced outperformance suggests operating rigor is durable. Technology investments are early but tangible use cases (Schedule Hub) could drive future efficiencies. Key risks to watch: the durability of improved mortality (management was non-committal), the actual impact of ACA mix on RPT in later quarters, and whether Fresenius transfers materialize as expected. Next quarter, focus on volume trajectory, commercial mix evolution, and whether ACA headwind estimates need revision.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Mixed → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED DaVita raises 2026 adjusted OI guidance to $2.15B-$2.25B after strong Q1

Revenue & Profitability

First quarter adjusted operating income was $482 million, about $50 million ahead of forecast. Adjusted EPS was $2.87, and free cash flow was $140 million. For full year 2026, adjusted operating income guidance was raised to $2.15 billion-$2.25 billion, and adjusted EPS to $14.10-$15.20. Revenue per treatment declined about $5 sequentially but grew ~4% year-over-year.

Outlook

Management sees a rapidly evolving landscape with opportunities from technology investments and market share gains from competitor clinic closures (Fresenius). The ACA open enrollment is trending slightly favorable relative to prior expectations, partly offset by a shift to lower-level bronze plans. Mortality and admission trends are expected to normalize, with volume growth of 25-50 basis points for the year.

Growth Drivers

Key growth levers include treatment volume growth (now expected +25-50 bps, half from better underlying performance and half from Fresenius patient transfers), revenue per treatment growth (1-2% for the year), and continued labor efficiencies. IKC clinical results show year-over-year improvements in gross savings rate, total quality score, and high-performing status.

Balance Sheet & CapEx

DaVita is making targeted technology investments in IT systems and digital infrastructure, including AI applications like Schedule Hub. General & administrative costs grew 13% year-over-year in Q1 due to these investments. Management expects the full-year total cost CAGR to remain around 2.6%, optimizing across patient care costs, depreciation, and G&A.

Margins

Patient care costs per treatment were flat sequentially, better than expected due to productivity improvements. U.S. dialysis G&A costs declined $16 million from Q4 but increased 13% year-over-year. Full-year adjusted operating income guidance implies steady margin trajectory, with OI expected to be evenly split across remaining quarters, weighted toward Q4 for IKC.

Key Risks

Risks flagged include variability in mortality and admission trends (with mortality better than forecast in Q1 but not yet a clear trend), ACA enrollment mix shifting to lower-level bronze plans creating a modest revenue-per-treatment headwind, and the potential for higher interest rates and share repurchases to increase debt expense. Technology investments also carry execution risk.

Generated by AI · Q1 2026 results · Not investment advice

📊 Analysis Methodology

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