Cotiviti Holdings Inc (COTV) Expected to Announce Quarterly Sales of $191.43 Million
Analysts expect Cotiviti Holdings Inc (NASDAQ:COTV) to report $191.43 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Cotiviti Holdings’ earnings, with the lowest sales estimate coming in at $178.10 million and the highest estimate coming in at $198.40 million. Cotiviti Holdings reported sales of $167.91 million during the same quarter last year, which suggests a positive year-over-year growth rate of 14%. The company is scheduled to announce its next quarterly earnings report on Wednesday, February 28th.
On average, analysts expect that Cotiviti Holdings will report full year sales of $191.43 million for the current fiscal year, with estimates ranging from $625.20 million to $700.20 million. For the next fiscal year, analysts anticipate that the company will report sales of $770.66 million per share, with estimates ranging from $680.00 million to $804.51 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Cotiviti Holdings.
Cotiviti Holdings (NASDAQ:COTV) last announced its quarterly earnings data on Tuesday, October 31st. The business services provider reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Cotiviti Holdings had a return on equity of 7.68% and a net margin of 11.18%. The business had revenue of $174.20 million for the quarter, compared to the consensus estimate of $174.01 million. During the same period in the previous year, the business earned $0.36 earnings per share. The business’s revenue was up 11.5% on a year-over-year basis.
COTV has been the topic of a number of analyst reports. Zacks Investment Research cut Cotiviti Holdings from a “hold” rating to a “strong sell” rating in a research report on Monday, July 10th. Mitsubishi UFJ Financial Group initiated coverage on Cotiviti Holdings in a research report on Thursday, September 21st. They set an “overweight” rating and a $42.00 target price on the stock. Finally, BidaskClub upgraded Cotiviti Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $41.20.
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In related news, Director Elizabeth Connolly Alexander sold 742,349 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $37.00, for a total value of $27,466,913.00. Following the transaction, the director now directly owns 1,614,413 shares of the company’s stock, valued at approximately $59,733,281. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder International Corp/Ma Advent sold 9,257,651 shares of the firm’s 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. Insiders sold a total of 10,130,095 shares of company stock worth $373,377,330 over the last ninety days.
A number of institutional investors have recently modified their holdings of the stock. FMR LLC lifted its stake in Cotiviti Holdings by 31.1% in 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 in the last quarter. Vanguard Group Inc. lifted its stake in Cotiviti Holdings by 18.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,509,612 shares of the business services provider’s stock valued at $93,207,000 after buying an additional 382,020 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Cotiviti Holdings by 19.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,988,241 shares of the business services provider’s stock valued at $73,843,000 after buying an additional 320,715 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in Cotiviti Holdings by 10.2% in the 2nd quarter. Eagle Asset Management Inc. now owns 1,904,283 shares of the business services provider’s stock valued at $70,725,000 after buying an additional 176,870 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new position in Cotiviti Holdings in the 3rd quarter valued at about $20,902,000.
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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