DaVita HealthCare Shares Slip Amid Raymond James Downgrade

In Monday's morning summary Raymond James analyst, John Ransom downgraded shares of DaVita Healthcare Partners Inc

from Outperform to Marketperform removed his $75 price target. Ransom noted the downgrade is in reaction to the announcement that HealthCare Partners' president and CEO, Dr. Craig Samitt will be stepping down effective August 1. Being that Samitt was only appointed back in March of 2014, Ransom says, at best, this means the company made an "ill-timed error in judgement". In addition to this announcement, Ransom noted that HealthCare Partners has suffered from a series of disappointments, and to become more constructive he needs to see more clarity, which he doesn't expect until the company's July 31 earnings announcement. Following news of Samitt's departure and the note from Ransom, Shares of DaVita have dipped almost four percent.