Zacks Investment Research upgraded shares of Catasys (NASDAQ:CATS) from a hold rating to a strong-buy rating in a research report report published on Wednesday morning, Zacks.com reports. The brokerage currently has $21.00 price target on the stock.
According to Zacks, “Catasys, Inc., formerly known as Hythiam, Inc., provides specialized behavioral health management services to health plans, employers and unions through a network of licensed and company managed health care providers. The Company’s program seeks to improve member health by delivering medical and psychosocial interventions in combination with long term care coaching, including their proprietary treatment program for alcoholism and stimulant dependence. Catasys, Inc. is based in Los Angeles. “
A number of other research analysts have also commented on the company. BidaskClub lowered Vertex Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday. Canaccord Genuity lowered their price objective on Cronos Group from C$17.00 to C$16.00 in a report on Friday, May 10th. Finally, Dougherty & Co started coverage on Catasys in a report on Tuesday, May 7th. They set a buy rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $19.00.
Shares of CATS stock opened at $19.60 on Wednesday. Catasys has a fifty-two week low of $6.42 and a fifty-two week high of $20.83. The business has a 50-day moving average price of $18.46.
Catasys (NASDAQ:CATS) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.18) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.06. The company had revenue of $6.81 million for the quarter, compared to analyst estimates of $5.64 million. Sell-side analysts anticipate that Catasys will post -0.96 earnings per share for the current year.
In related news, major shareholder David E. Smith sold 34,500 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $18.18, for a total transaction of $627,210.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David E. Smith sold 50,815 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $15.78, for a total value of $801,860.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 401,811 shares of company stock worth $6,465,985. 60.80% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Kennedy Capital Management Inc. boosted its stake in Catasys by 7.3% during the 1st quarter. Kennedy Capital Management Inc. now owns 301,087 shares of the company’s stock valued at $3,682,000 after purchasing an additional 20,469 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Catasys by 19.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 171,223 shares of the company’s stock worth $2,094,000 after acquiring an additional 27,467 shares during the period. Westwood Management Corp IL lifted its position in shares of Catasys by 37.5% in the 1st quarter. Westwood Management Corp IL now owns 55,000 shares of the company’s stock worth $673,000 after acquiring an additional 15,000 shares during the period. Barclays PLC bought a new stake in shares of Catasys in the 4th quarter worth approximately $455,000. Finally, Geode Capital Management LLC lifted its position in shares of Catasys by 27.2% in the 4th quarter. Geode Capital Management LLC now owns 28,315 shares of the company’s stock worth $265,000 after acquiring an additional 6,050 shares during the period. Hedge funds and other institutional investors own 12.66% of the company’s stock.
Catasys, Inc provides big data predictive analytics, artificial intelligence and telehealth, combined with human intervention services to health plans and other third party payors. It offers OnTrak solution to improve treatment outcomes and lower the utilization of medical and behavioral health plan services.
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