Citi Reports DaVita 1Q11 Results Nicely Inline

According to Citi, DaVita DVA 1Q11 results are nicely ahead and guidance in inline. Citi said that DVA's 1Q11 revenues, EBITDA, operating income and EPS were all above consensus expectations on inline 4% non-acquired treatment growth. “We believe expectations were fairly high coming into the quarter and only DVA's modest 1Q11 share repurchase activity (162k shares vs our 4.5m share modeled repurchase) was lower than expected (leaving a couple cents EPS on the table vs our model). DVA repurchased another 1m shares during April and has $584m repurchase authority remaining.” DaVita closed yesterday at $88.85.