DVA - Why Shares of DaVita Were Up Tuesday
2023-05-09 12:07:17 ET
Shares of DaVita (NYSE: DVA) were up 14.3% on Tuesday morning, after the healthcare company -- which specializes in dialysis treatment -- released first-quarter earnings and updated yearly guidance on Monday. The stock is up more than 35% this year.
The company operates outpatient dialysis centers, including 2,724 in the U.S. and 350 in 11 other countries. It's a relatively stable business since dialysis patients need their treatments on a regular basis, regardless of how the economy is doing.
In the first quarter, the company reported revenue of $2.87 billion, up 2% year over year. The company also reported $1.25 in earnings per share (EPS). While that number was down from $1.61 in the same quarter a year ago, it was an improvement from the fourth quarter, when it posted $0.59 in EPS.
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Why Shares of DaVita Were Up Tuesday