UPDATE: KeyBanc Capital Markets Downgrades DaVita HealthCare Partners to Hold, Removes PT on Balanced Risk/Reward

In a report published Wednesday, KeyBanc Capital Markets analyst Jason Gurda downgraded the rating on

from Buy to Hold, and removed the $75.00 price target. In the report, KeyBanc Capital Markets noted, “We are downgrading shares of DaVita Healthcare Partners Inc. (DVA-NYSE) to HOLD from BUY as the shares are close to our $75 price target, and we now believe the risk/reward is balanced. In addition, we are reducing our estimates slightly to reflect more modest growth expectations from the Company's dialysis business. DVA shares are up 17% year-to-date vs. the S&P 500's 8% gain; however, we believe further outperformance could be hampered by the following issues: 1) Medicare pricing will likely continue to depress dialysis operating income growth for the next few years; and 2) HCP's growth trajectory and timing still remain uncertain. On the positive side, we believe potential capital deployment could offer some upside to our estimates.” DaVita HealthCare Partners closed on Tuesday at $74.24.