By Katherine Hamilton
DaVita shares fell after the company's 2025 earnings missed expectations and Berkshire Hathaway sold shares in the company.
The stock declined 10% to $158.96 on Friday, though it is up about 30% over the past year.
Berkshire's sale of the shares has been in the works for months, but came on the heels of DaVita's fourth-quarter earnings. They showed the company is less optimistic about 2025 earnings than Wall Street has been.
Berkshire Chairman Warren Buffett sold 203,091 shares at $156.01 a share, offloading a total of $31.7 million, according to a Thursday filing with the Securities and Exchange Commission. Berkshire still has 35.9 million shares, making it the kidney dialysis company's largest stakeholder.
DaVita said in May it would buy back stock from Berkshire when its ownership surpassed 45%. Berkshire's sale this week brings its stake back down to that level.
Shares of DaVita began falling Thursday night before Berkshire's sale became public. After the bell, the healthcare company guided for adjusted earnings of $10.20 to $11.30 in 2025, below analysts' expectations of $11.38.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
February 14, 2025 14:35 ET (19:35 GMT)
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