Cotiviti Holdings, Inc. (COTV) Expected to Post Quarterly Sales of $179.26 Million
Analysts expect Cotiviti Holdings, Inc. (NYSE:COTV) to post sales of $179.26 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Cotiviti’s earnings, with estimates ranging from $176.80 million to $181.50 million. Cotiviti reported sales of $167.91 million in the same quarter last year, which indicates a positive year-over-year growth rate of 6.8%. The company is scheduled to report its next quarterly earnings report on Wednesday, February 28th.
According to Zacks, analysts expect that Cotiviti will report full-year sales of $179.26 million for the current year, with estimates ranging from $678.70 million to $694.00 million. For the next year, analysts expect that the business will post sales of $765.09 million per share, with estimates ranging from $753.20 million to $800.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Cotiviti.
Cotiviti (NYSE:COTV) last posted its quarterly earnings data on Tuesday, October 31st. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Cotiviti had a return on equity of 13.61% and a net margin of 13.86%. The company had revenue of $174.20 million for the quarter, compared to analysts’ expectations of $174.01 million. During the same period in the previous year, the firm posted $0.36 EPS. Cotiviti’s revenue was up 11.5% compared to the same quarter last year.
Several research analysts have recently weighed in on COTV shares. SunTrust Banks, Inc. restated a “buy” rating and set a $45.00 target price on shares of Cotiviti in a report on Friday, November 10th. Zacks Investment Research cut Cotiviti from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. BidaskClub cut Cotiviti from a “hold” rating to a “sell” rating in a report on Saturday, November 4th. Robert W. Baird restated a “buy” rating and set a $44.00 target price on shares of Cotiviti in a report on Friday, November 3rd. Finally, Jefferies Group LLC lowered their target price on Cotiviti from $41.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $41.29.
Cotiviti (COTV) traded down $0.04 during mid-day trading on Wednesday, reaching $31.77. The company had a trading volume of 93,420 shares, compared to its average volume of 453,508. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.73. Cotiviti has a 12 month low of $29.19 and a 12 month high of $45.97. The firm has a market cap of $2,938.25, a PE ratio of 22.25, a price-to-earnings-growth ratio of 1.80 and a beta of 0.90.
In other news, CEO J Douglas Williams sold 16,655 shares of Cotiviti stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $35.71, for a total transaction of $594,750.05. Following the sale, the chief executive officer now owns 2,843,299 shares of the company’s stock, valued at approximately $101,534,207.29. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO David Beaulieu sold 5,000 shares of Cotiviti stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $35.00, for a total transaction of $175,000.00. Following the sale, the chief operating officer now directly owns 43,133 shares in the company, valued at approximately $1,509,655. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 121,731 shares of company stock worth $4,204,859. Corporate insiders own 15.80% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in COTV. Great West Life Assurance Co. Can purchased a new stake in Cotiviti in the second quarter valued at approximately $107,000. BNP Paribas Arbitrage SA raised its position in Cotiviti by 553.5% in the second quarter. BNP Paribas Arbitrage SA now owns 3,137 shares of the business services provider’s stock valued at $117,000 after purchasing an additional 2,657 shares during the period. Strategic Global Advisors LLC purchased a new stake in Cotiviti in the third quarter valued at approximately $200,000. Pacer Advisors Inc. raised its position in Cotiviti by 138.9% in the second quarter. Pacer Advisors Inc. now owns 5,642 shares of the business services provider’s stock valued at $210,000 after purchasing an additional 3,280 shares during the period. Finally, Koch Industries Inc. purchased a new stake in Cotiviti in the second quarter valued at approximately $237,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.
Cotiviti Holdings, Inc is a provider of analytics-driven payment accuracy solutions. The Company focuses primarily on the healthcare sector. The Company operates through two segments: Healthcare, and Global Retail and Other. Through its Healthcare segment, the Company offers prospective and retrospective claims accuracy solutions to healthcare payers in the United States.
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