Brokerages forecast that Cotiviti Holdings Inc (NYSE:COTV) will announce $190.21 million in sales for the current quarter, according to Zacks. Seven analysts have issued estimates for Cotiviti’s earnings. The lowest sales estimate is $188.11 million and the highest is $193.10 million. Cotiviti posted sales of $174.19 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.2%. The company is scheduled to report its next quarterly earnings report on Tuesday, October 30th.
On average, analysts expect that Cotiviti will report full year sales of $767.31 million for the current year, with estimates ranging from $745.07 million to $796.80 million. For the next year, analysts forecast that the business will report sales of $821.64 million per share, with estimates ranging from $808.60 million to $835.30 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Cotiviti.
Cotiviti (NYSE:COTV) last released its quarterly earnings data on Thursday, July 26th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.01. Cotiviti had a net margin of 21.49% and a return on equity of 12.44%. The firm had revenue of $176.85 million during the quarter, compared to analysts’ expectations of $183.38 million. During the same period last year, the business earned $0.38 earnings per share. Cotiviti’s revenue was up 5.5% compared to the same quarter last year.
Several equities research analysts recently issued reports on COTV shares. TheStreet upgraded shares of Cotiviti from a “c” rating to a “b-” rating in a research report on Friday, May 25th. Zacks Investment Research upgraded shares of Cotiviti from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Wednesday, April 18th. SunTrust Banks cut shares of Cotiviti from a “buy” rating to a “hold” rating and set a $24.00 price objective for the company. in a research report on Tuesday, June 19th. JPMorgan Chase & Co. cut shares of Cotiviti from an “overweight” rating to a “hold” rating and set a $37.00 price objective for the company. in a research report on Tuesday, April 24th. Finally, William Blair cut shares of Cotiviti from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 19th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. Cotiviti presently has a consensus rating of “Hold” and a consensus price target of $36.07.
In other news, COO David Beaulieu sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $40.00, for a total value of $1,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO J Douglas Williams sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of $34.19, for a total transaction of $1,025,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 121,800 shares of company stock valued at $4,543,550. 7.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of COTV. Mint Tower Capital Management B.V. purchased a new position in Cotiviti in the second quarter worth approximately $114,000. SG Americas Securities LLC purchased a new position in Cotiviti in the first quarter worth approximately $124,000. Bank of Montreal Can purchased a new position in Cotiviti in the second quarter worth approximately $213,000. Amalgamated Bank purchased a new position in Cotiviti in the second quarter worth approximately $262,000. Finally, GSA Capital Partners LLP purchased a new position in Cotiviti in the first quarter worth approximately $214,000. 91.52% of the stock is owned by institutional investors and hedge funds.
Cotiviti traded up $0.05, hitting $44.66, during midday trading on Tuesday, MarketBeat Ratings reports. 342,788 shares of the stock were exchanged, compared to its average volume of 390,143. Cotiviti has a fifty-two week low of $30.84 and a fifty-two week high of $44.76. The stock has a market cap of $4.18 billion, a P/E ratio of 29.74, a PEG ratio of 2.09 and a beta of 0.52. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 0.61.
Cotiviti Company Profile
Cotiviti Holdings, Inc, through its subsidiaries, provides analytics-driven payment accuracy and spend management solutions primarily for the healthcare sector in the United States, Canada, the United Kingdom, and India. It operates through two segments, Healthcare, and Global Retail and Other. The company offers prospective claims accuracy solutions that enable healthcare clients identify and address claim discrepancies immediately following claim adjudication and before a claim is paid to a healthcare provider; and retrospective claims accuracy solutions that enable health insurers identify and resolve payment inaccuracies after a claim has been paid to a healthcare provider.
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