Berkshire Hathaway sells another 750,000 DaVita shares (updated)

Davita

20/02/2025 01:53

(Adds details on latest sales, earlier Berkshire selling,
DaVita stock price, background)
       Feb 19 (Reuters) - Warren Buffett's Berkshire Hathaway
 BRKa.N  said it has sold an additional 750,000 shares of DaVita
 DVA.N , reducing its stake in the kidney dialysis services
provider by about 2% to 35.14 million shares worth $5.4 billion.
    The sales between February 14 and 19 totaled about $115
million, according to a Wednesday night filing with the U.S.
Securities and Exchange Commission.
    The sales reduced Berkshire's ownership stake in DaVita to
about 44%, based on DaVita's 80 million outstanding shares as of
January 31.
        The latest sales follow a sale by Berkshire of 203,091
DaVita shares back to the Denver-based company on February 11,
pursuant to an agreement for DaVita on a quarterly basis to
repurchase enough shares to reduce Berkshire's stake to 45%.
  
        It wasn't immediately clear why Berkshire sold
additional DaVita shares.
  
        The latest selling came after DaVita's 2025 earnings
outlook on February 13 disappointed investors.
  
        DaVita's share price fell 11% the following day. The
shares closed at $154.96 on Wednesday.
  
        Neither Berkshire nor DaVita immediately responded to
requests for comment on Wednesday after market hours.
  
        Berkshire has owned DaVita shares since the fourth
quarter of 2011.
  
        The investment was spearheaded by Ted Weschler, who
joined Berkshire as a portfolio manager in 2012 and had invested
in DaVita at his former hedge fund firm Peninsula Capital
Advisors.
  
        Buffet has led Omaha, Nebraska-based Berkshire since
1965.
  

 (Reporting by Jonathan Stempel in New York; Editing by Sandra
Maler and Leslie Adler)
 ((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters
Messaging: jon.stempel.thomsonreuters.com@reuters.net))