Report
Michael Waterhouse
EUR 101.80 For Business Accounts Only

DaVita's kidney operations remain stable despite new restrictions on some exchange-based patients.

DaVita reported first-quarter results mostly in line with our expectations, and we don’t anticipate any change to our fair value estimate or narrow moat rating for the firm. Although DaVita continues to post consistent nonacquired treatment growth of 3.8% during the quarter, the firm’s operating margin declined nearly 200 basis points from the prior-year period due to several challenges the company faces this year, especially a decline in higher-margin exchange patients who previously received p...
Underlying
DaVita Inc.

DaVita is a healthcare provider focused on transforming care delivery to improve quality of life for patients. The company's United States dialysis business provides kidney dialysis services for patients suffering from end stage renal disease (ESRD). The company's dialysis services include outpatient hemodialysis services, hospital inpatient hemodialysis services, home-based dialysis services, ESRD laboratory services, and management services. The company's ancillary services and strategic initiatives businesses include disease management services, physician services, ESRD Seamless Care Organization joint ventures, clinical research programs, vascular access services, as well as international dialysis operations.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Michael Waterhouse

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