BUZZ-DaVita down after Berkshire Hathaway cuts stake

Reuters
14 Feb
BUZZ-DaVita down after Berkshire Hathaway cuts stake

** Shares of DaVita DVA.N falls 10.8% to $158 in premarket trade

** Warren Buffett's Berkshire Hathaway BRKa.N sells 203,091 shares of the kidney dialysis services provider to bring its holdings down to about 35.89 million shares, a 45% stake worth nearly $6.4 billion

** Berkshire said sale was required pursuant to a share repurchase deal, under which DVA agreed on a quarterly basis to buy back enough shares to cut Berkshire's stake to 45%

** Berkshire has owned DVA shares since Q4 of 2011

** DVA gained 42.7% in 2024, and is up 18.4% YTD

(Reporting by Pranav Kashyap in Bangalore)

((Pranav.Kashyap@thomsonreuters.com; +919886482111;))

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