Feb 19 (Reuters) - Warren Buffett's Berkshire Hathaway ( BRK/A )
said it has sold an additional 750,000 shares of DaVita ( DVA )
, 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 ( DVA ) to
about 44%, based on DaVita's ( DVA ) 80 million outstanding shares as of
January 31.
The latest sales follow a sale by Berkshire of 203,091
DaVita ( DVA ) shares back to the Denver-based company on February 11,
pursuant to an agreement for DaVita ( DVA ) 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 ( DVA ) shares.
The latest selling came after DaVita's ( DVA ) 2025 earnings
outlook on February 13 disappointed investors.
DaVita's ( DVA ) share price fell 11% the following day. The
shares closed at $154.96 on Wednesday.
Neither Berkshire nor DaVita ( DVA ) immediately responded to
requests for comment on Wednesday after market hours.
Berkshire has owned DaVita ( DVA ) 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 ( DVA ) at his former hedge fund firm Peninsula Capital
Advisors.
Buffet has led Omaha, Nebraska-based Berkshire since
1965.