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Investing.com-- DaVita HealthCare Partners (NYSE:DVA) shares fell in aftermarket trade on Wednesday after the dialysis machine maker clocked disappointing third-quarter earnings, while Berkshire Hathaway (NYSE:BRKa) further trimmed its stake in the firm.
Davita shares fell as much as 3% afterhours to $122.70.
The company’s adjusted earnings per share of $2.51 missed analyst estimates of $3.23, as did revenue for the third quarter.
But the company maintained its annual guidance for adjusted EPS between $10.35 and $11.15.
The soft earnings were driven largely by softer U.S. dialysis volumes, as well as charges related to a cybersecurity incident.
Also weighing on Davita shares, Berkshire Hathaway sold 401,514 shares in the company at about $135.3588 per share. Berkshire now holds about 31.76 million shares in the firm.
Warren Buffett’s hedge fund steadily sold down its Davita stake this year, with earlier sales also coinciding with weak earnings from the healthcare firm.
But it was not immediately clear why Berkshire was trimming its stake in Davita.