On August 5, DaVita HealthCare Partners declined 5.83% overnight, trading at $214.70/share. The sell-off was triggered by the company maintaining its full-year guidance despite delivering a strong Q2 earnings beat.

DaVita reported Q2 adjusted EPS of $4.02, surpassing the consensus estimate of $3.88 by 3.61% and representing a 36.27% year-over-year increase from $2.95. Revenue came in at $3.554 billion, also exceeding the $3.496 billion estimate. However, the company maintained its full-year adjusted EPS guidance range of $14.10 to $15.20, with the midpoint of $14.65 falling below the Street consensus of $14.88. Given consecutive significant beats in Q1 and Q2, the market had widely anticipated a guidance raise. The unchanged outlook was interpreted as an implicit signal of decelerating earnings growth in the second half.

Adding to sentiment pressure, an SEC filing revealed that Berkshire Hathaway recently sold 182,980 shares of DaVita at an average price of $199.55 per share, while still retaining approximately 28.7 million shares.

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