Billionaire investor Warren Buffett’s investment company Berkshire Hathaway Inc. (NYSE: BRK.A) raised its stake in DaVita Inc. (NYSE: DVA).
The investment company raised its stake in DVA by 0.65% for approximately $110 per share last week. BRK.A bought 63,928 shares in the transaction and now holds a total of 10,547,040 shares of DVA common stock. The latest purchase is BRK.A’s fourth in less than a month.
Berkshire Hathaway now holds 10.5% in DaVita. Buffett’s investment company first bought a stake in DVA in the fourth quarter of 2011.
BRK.A made its first purchase at an average price of $71 per share. DVA shares are now trading at $111.50. Year-to-date, the stock is up more than 47%, outperforming the S&P 500.
Based in Denver, Colorado, DaVita provides dialysis services in the U.S. for patients suffering from chronic kidney failure.
DVA will report its third-quarter financial results on October 29, 2012. For the second quarter of 2012, the company had reported net income of $142.9 million, or $1.49 per share, up from net income of $114.4 million, or $1.17 per share reported for the same period in the previous year.
At the time of the release of second-quarter financial results, DVA also raised its operating income guidance for 2012 to a range of $1,275 million to $1,325 million, compared to prior guidance range of $1,230 million to $1,310 million. The company expects operating cash flows for 2012 to be in the range of $950 million and $1,050 million.
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