Cotiviti Holdings Inc (COTV) Expected to Announce Quarterly Sales of $181.17 Million
Equities research analysts predict that Cotiviti Holdings Inc (NASDAQ:COTV) will post sales of $181.17 million for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Cotiviti Holdings’ earnings. The highest sales estimate is $192.30 million and the lowest is $176.80 million. Cotiviti Holdings reported sales of $167.91 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.9%. The company is expected to announce its next earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Cotiviti Holdings will report full-year sales of $181.17 million for the current year, with estimates ranging from $678.70 million to $694.00 million. For the next financial year, analysts forecast that the business will post sales of $767.19 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 firms that cover Cotiviti Holdings.
Cotiviti Holdings (NASDAQ:COTV) last issued its earnings results on Tuesday, October 31st. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $174.20 million during the quarter, compared to the consensus estimate of $174.01 million. Cotiviti Holdings had a return on equity of 7.68% and a net margin of 11.18%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 EPS.
A number of equities analysts have recently issued reports on the company. BidaskClub downgraded Cotiviti Holdings from a “hold” rating to a “sell” rating in a research note on Saturday. Robert W. Baird reissued a “buy” rating and set a $44.00 target price on shares of Cotiviti Holdings in a research note on Friday. Mitsubishi UFJ Financial Group assumed coverage on Cotiviti Holdings in a research note on Thursday, September 21st. They set an “overweight” rating and a $42.00 target price for the company. Zacks Investment Research downgraded Cotiviti Holdings from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Jefferies Group LLC cut their target price on Cotiviti Holdings from $41.00 to $35.00 and set a “hold” rating for the company in a research note on Friday. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Cotiviti Holdings presently has an average rating of “Hold” and a consensus price target of $40.67.
In related news, CEO J Douglas Williams sold 16,655 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $35.78, for a total value of $595,915.90. Following the completion of the transaction, the chief executive officer now directly owns 2,876,609 shares of the company’s stock, valued at approximately $102,925,070.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder International Corp/Ma Advent sold 9,257,651 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $36.87, for a total value of $341,329,592.37. The disclosure for this sale can be found here. Insiders sold a total of 10,130,095 shares of company stock valued at $373,377,330 over the last ninety days.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in Cotiviti Holdings by 31.1% during the 2nd quarter. FMR LLC now owns 2,664,830 shares of the business services provider’s stock valued at $98,972,000 after buying an additional 631,655 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cotiviti Holdings by 18.0% during the second quarter. Vanguard Group Inc. now owns 2,509,612 shares of the business services provider’s stock worth $93,207,000 after purchasing an additional 382,020 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Cotiviti Holdings by 19.2% during the second quarter. JPMorgan Chase & Co. now owns 1,988,241 shares of the business services provider’s stock worth $73,843,000 after purchasing an additional 320,715 shares during the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of Cotiviti Holdings by 10.2% during the second quarter. Eagle Asset Management Inc. now owns 1,904,283 shares of the business services provider’s stock worth $70,725,000 after purchasing an additional 176,870 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Cotiviti Holdings by 95.9% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 991,543 shares of the business services provider’s stock worth $35,676,000 after buying an additional 485,316 shares during the period.
Shares of Cotiviti Holdings (NASDAQ:COTV) traded up $0.33 during mid-day trading on Thursday, hitting $31.56. The stock had a trading volume of 646,373 shares, compared to its average volume of 355,772. Cotiviti Holdings has a fifty-two week low of $29.19 and a fifty-two week high of $45.97.
Cotiviti Holdings Company Profile
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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