Analysts Expect Cotiviti Holdings Inc (COTV) Will Post Quarterly Sales of $173.92 Million
Equities research analysts predict that Cotiviti Holdings Inc (NASDAQ:COTV) will post $173.92 million in sales for the current quarter, according to Zacks. Seven analysts have provided estimates for Cotiviti Holdings’ earnings, with the lowest sales estimate coming in at $173.00 million and the highest estimate coming in at $175.41 million. Cotiviti Holdings reported sales of $156.24 million in the same quarter last year, which indicates a positive year over year growth rate of 11.3%. The company is scheduled to issue its next quarterly earnings results on Wednesday, November 8th.
On average, analysts expect that Cotiviti Holdings will report full-year sales of $173.92 million for the current year, with estimates ranging from $693.29 million to $700.20 million. For the next financial year, analysts forecast that the business will report sales of $784.25 million per share, with estimates ranging from $771.00 million to $804.51 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Cotiviti Holdings.
Cotiviti Holdings (NASDAQ:COTV) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. Cotiviti Holdings had a net margin of 12.58% and a return on equity of 8.55%. The firm had revenue of $167.60 million during the quarter, compared to the consensus estimate of $167.47 million. During the same quarter in the prior year, the firm earned $0.37 EPS. Cotiviti Holdings’s revenue for the quarter was up 5.9% on a year-over-year basis.
A number of equities research analysts have issued reports on the company. Mitsubishi UFJ Financial Group assumed coverage on Cotiviti Holdings in a research note on Thursday. They issued an “overweight” rating and a $42.00 target price on the stock. BidaskClub cut Cotiviti Holdings from a “hold” rating to a “sell” rating in a research note on Monday, September 18th. Leerink Swann assumed coverage on Cotiviti Holdings in a research note on Tuesday, July 4th. They issued an “outperform” rating and a $48.00 target price on the stock. Finally, Zacks Investment Research upgraded Cotiviti Holdings from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $40.71.
Shares of Cotiviti Holdings (COTV) opened at 35.64 on Monday. Cotiviti Holdings has a 52-week low of $29.19 and a 52-week high of $41.38. The stock has a market cap of $3.28 billion and a P/E ratio of 43.84. The company has a 50-day moving average of $35.22 and a 200 day moving average of $35.22.
In related news, SVP Jonathan Olefson sold 5,000 shares of Cotiviti Holdings stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $43.00, for a total transaction of $215,000.00. Following the sale, the senior vice president now directly owns 5,149 shares in the company, valued at $221,407. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder International Corp/Ma Advent sold 9,257,651 shares of Cotiviti Holdings stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $36.87, for a total transaction of $341,329,592.37. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,113,367 shares of company stock worth $373,109,290.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can bought a new stake in shares of Cotiviti Holdings during the second quarter valued at about $107,000. BNP Paribas Arbitrage SA raised its stake in shares of Cotiviti Holdings by 553.5% during the second quarter. BNP Paribas Arbitrage SA now owns 3,137 shares of the business services provider’s stock valued at $117,000 after purchasing an additional 2,657 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Cotiviti Holdings by 502.1% during the first quarter. Quantbot Technologies LP now owns 4,775 shares of the business services provider’s stock valued at $198,000 after purchasing an additional 3,982 shares in the last quarter. Invictus RG bought a new stake in shares of Cotiviti Holdings during the first quarter valued at about $209,000. Finally, Pacer Advisors Inc. raised its stake in shares of Cotiviti Holdings by 138.9% during the second quarter. Pacer Advisors Inc. now owns 5,642 shares of the business services provider’s stock valued at $210,000 after purchasing an additional 3,280 shares in the last quarter.
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About Cotiviti Holdings
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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