Brokerages expect Cotiviti Holdings, Inc. (NYSE:COTV) to announce sales of $183.50 million for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Cotiviti’s earnings, with the lowest sales estimate coming in at $178.25 million and the highest estimate coming in at $187.27 million. Cotiviti reported sales of $167.61 million in the same quarter last year, which indicates a positive year-over-year growth rate of 9.5%. The company is expected to issue its next quarterly earnings results on Tuesday, August 7th.
According to Zacks, analysts expect that Cotiviti will report full-year sales of $766.50 million for the current financial year, with estimates ranging from $746.37 million to $797.00 million. For the next financial year, analysts anticipate that the company will post sales of $823.51 million per share, with estimates ranging from $808.60 million to $835.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that that provide coverage for Cotiviti.
Cotiviti (NYSE:COTV) last released its earnings results on Tuesday, May 1st. The business services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. Cotiviti had a return on equity of 12.68% and a net margin of 22.39%. The business had revenue of $219.03 million for the quarter, compared to the consensus estimate of $176.15 million. During the same period last year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was up 36.8% compared to the same quarter last year.
A number of equities research analysts recently weighed in on COTV shares. Zacks Investment Research downgraded Cotiviti from a “buy” rating to a “hold” rating in a research report on Tuesday, April 24th. JPMorgan Chase downgraded Cotiviti from an “overweight” rating to a “hold” rating and set a $37.00 target price on the stock. in a research report on Tuesday, April 24th. Finally, First Analysis downgraded Cotiviti from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $48.00 to $40.00 in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Cotiviti has a consensus rating of “Hold” and a consensus price target of $40.44.
In related news, COO David Beaulieu sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $35.00, for a total value of $175,000.00. Following the completion of the transaction, the chief operating officer now owns 44,425 shares in the company, valued at approximately $1,554,875. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J Douglas Williams sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $36.19, for a total transaction of $1,085,700.00. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock valued at $6,043,250 in the last quarter. 7.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of COTV. SG Americas Securities LLC bought a new position in Cotiviti in the 1st quarter worth approximately $124,000. Tower Research Capital LLC TRC raised its position in Cotiviti by 81.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,100 shares of the business services provider’s stock worth $132,000 after purchasing an additional 1,844 shares during the last quarter. GSA Capital Partners LLP bought a new position in Cotiviti in the 1st quarter worth approximately $214,000. State Board of Administration of Florida Retirement System bought a new position in Cotiviti in the 1st quarter worth approximately $239,000. Finally, First Quadrant L P CA bought a new position in Cotiviti in the 4th quarter worth approximately $254,000. Hedge funds and other institutional investors own 94.43% of the company’s stock.
COTV stock opened at $34.38 on Friday. Cotiviti has a twelve month low of $34.18 and a twelve month high of $34.69. The stock has a market cap of $3.18 billion, a P/E ratio of 24.21, a PEG ratio of 1.61 and a beta of 0.84. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.93 and a current ratio of 2.93.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cotiviti Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cotiviti and related companies with MarketBeat.com's FREE daily email newsletter.