DVA - DaVita: Potential For Double-Digit Returns Powered By Buybacks And An Attractive Valuation

• DaVita's business model is able to provide the company with very reliable and stable revenues, as patients need their dialysis treatment on a constant basis.
• In spite of the aggressive stock buybacks, the company's valuation has failed to take off, as DaVita's valuation multiple has remained rather cheap, predominantly below 20X earnings.
• DaVita has the potential to deliver double-digit in the medium term, powered by aggressive capital returns and an attractive valuation.

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