Wall Street brokerages expect that Cotiviti Holdings Inc (NYSE:COTV) will announce sales of $179.30 million for the current quarter, according to Zacks. Eight analysts have provided estimates for Cotiviti’s earnings. The highest sales estimate is $181.50 million and the lowest is $176.80 million. Cotiviti reported sales of $167.91 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.8%. The company is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, February 21st.
According to Zacks, analysts expect that Cotiviti will report full-year sales of $179.30 million for the current fiscal year, with estimates ranging from $678.70 million to $683.00 million. For the next year, analysts expect that the company will report sales of $760.30 million per share, with estimates ranging from $753.20 million to $774.00 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Cotiviti.
Several research firms have commented on COTV. Jefferies Group reduced their price objective on Cotiviti from $41.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, November 3rd. Robert W. Baird reaffirmed a “buy” rating and set a $44.00 price objective on shares of Cotiviti in a research note on Friday, November 3rd. Citigroup began coverage on Cotiviti in a research note on Thursday, January 4th. They set a “buy” rating for the company. Zacks Investment Research downgraded Cotiviti from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Finally, BidaskClub downgraded Cotiviti from a “hold” rating to a “sell” rating in a research note on Saturday, November 4th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Cotiviti currently has an average rating of “Hold” and a consensus price target of $41.14.
Cotiviti (COTV) traded up $0.22 on Friday, reaching $33.93. The company’s stock had a trading volume of 312,483 shares, compared to its average volume of 407,324. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.73. The stock has a market cap of $3,134.07, a P/E ratio of 34.98, a PEG ratio of 1.73 and a beta of 0.65. Cotiviti has a 12-month low of $30.84 and a 12-month high of $45.97.
In other news, SVP Jonathan Olefson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $32.37, for a total transaction of $485,550.00. Following the completion of the transaction, the senior vice president now directly owns 15,149 shares of the company’s stock, valued at approximately $490,373.13. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO J Douglas Williams sold 8,364 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $31.71, for a total value of $265,222.44. Following the transaction, the chief executive officer now directly owns 2,759,951 shares of the company’s stock, valued at $87,518,046.21. The disclosure for this sale can be found here. Over the last three months, insiders have sold 159,911 shares of company stock valued at $5,344,346. Company insiders own 15.80% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Balentine LLC purchased a new position in shares of Cotiviti during the 4th quarter worth approximately $136,691,000. Vanguard Group Inc. grew its holdings in shares of Cotiviti by 18.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,509,612 shares of the business services provider’s stock worth $93,207,000 after acquiring an additional 382,020 shares during the period. BlackRock Inc. grew its holdings in shares of Cotiviti by 0.5% in the 4th quarter. BlackRock Inc. now owns 2,432,328 shares of the business services provider’s stock worth $78,345,000 after acquiring an additional 12,664 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Cotiviti by 5.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,087,341 shares of the business services provider’s stock worth $74,414,000 after acquiring an additional 99,100 shares during the period. Finally, Brown Advisory Inc. grew its holdings in shares of Cotiviti by 35.1% in the 4th quarter. Brown Advisory Inc. now owns 1,825,216 shares of the business services provider’s stock worth $58,791,000 after acquiring an additional 473,872 shares during the period. 87.06% of the stock is owned by institutional investors and hedge funds.
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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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