Brokerages Expect Cotiviti Holdings Inc (COTV) Will Announce Earnings of $0.48 Per Share

Brokerages predict that Cotiviti Holdings Inc (NYSE:COTV) will announce earnings of $0.48 per share for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Cotiviti’s earnings, with the lowest EPS estimate coming in at $0.45 and the highest estimate coming in at $0.50. Cotiviti posted earnings per share of $0.39 in the same quarter last year, which would indicate a positive year-over-year growth rate of 23.1%. The company is expected to issue its next earnings results on Tuesday, October 30th.

According to Zacks, analysts expect that Cotiviti will report full year earnings of $1.89 per share for the current financial year, with EPS estimates ranging from $1.82 to $1.94. For the next financial year, analysts anticipate that the company will report earnings of $2.07 per share, with EPS estimates ranging from $2.01 to $2.12. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Cotiviti.

Cotiviti (NYSE:COTV) last announced its quarterly earnings results on Thursday, July 26th. The business services provider reported $0.46 earnings per share for the quarter, topping the 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 quarter in the prior year, the company earned $0.38 EPS. The company’s revenue was up 5.5% compared to the same quarter last year.

Several brokerages have recently weighed in on COTV. TheStreet raised shares of Cotiviti from a “c” rating to a “b-” rating in a research report on Friday, May 25th. Citigroup cut shares of Cotiviti from a “buy” rating to a “neutral” rating and set a $29.00 price target for the company. in a research report on Wednesday, July 18th. Robert W. Baird cut shares of Cotiviti from an “outperform” rating to a “neutral” rating and set a $24.00 price target for the company. in a research report on Tuesday, June 19th. William Blair cut shares of Cotiviti from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 19th. Finally, SunTrust Banks cut shares of Cotiviti from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a research report on Tuesday, June 19th. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $36.07.

Shares of COTV traded up $0.05 during mid-day trading on Friday, hitting $44.66. The company’s stock had a trading volume of 342,788 shares, compared to its average volume of 390,143. Cotiviti has a 52-week low of $30.84 and a 52-week high of $44.76. The stock has a market capitalization of $4.18 billion, a PE ratio of 29.74, a PEG ratio of 2.09 and a beta of 0.52. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.41 and a current ratio of 3.41.

In other Cotiviti news, SVP Jonathan Olefson sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 19th. The shares were sold at an average price of $41.10, for a total transaction of $822,000.00. Following the transaction, the senior vice president now owns 20,884 shares in the company, valued at approximately $858,332.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David Beaulieu sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $44.41, for a total transaction of $222,050.00. The disclosure for this sale can be found here. Insiders have sold 121,800 shares of company stock valued at $4,543,550 in the last three months. 7.50% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Mint Tower Capital Management B.V. acquired a new stake in shares of Cotiviti in the second quarter worth $114,000. SG Americas Securities LLC acquired a new stake in shares of Cotiviti in the first quarter worth $124,000. Bank of Montreal Can acquired a new stake in shares of Cotiviti in the second quarter worth $213,000. GSA Capital Partners LLP acquired a new stake in shares of Cotiviti in the first quarter worth $214,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Cotiviti in the first quarter worth $239,000. Institutional investors and hedge funds own 91.52% of the company’s stock.

About Cotiviti

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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