Zacks: Brokerages Anticipate Cotiviti Holdings Inc (COTV) Will Announce Earnings of $0.43 Per Share

Wall Street analysts forecast that Cotiviti Holdings Inc (NYSE:COTV) will post earnings of $0.43 per share for the current quarter, Zacks reports. Seven analysts have provided estimates for Cotiviti’s earnings. The highest EPS estimate is $0.44 and the lowest is $0.42. Cotiviti reported earnings of $0.39 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 10.3%. The company is scheduled to issue its next earnings results on Wednesday, February 28th.

On average, analysts expect that Cotiviti will report full-year earnings of $1.53 per share for the current fiscal year, with EPS estimates ranging from $1.53 to $1.54. For the next financial year, analysts forecast that the business will report earnings of $1.67 per share, with EPS estimates ranging from $1.62 to $1.74. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Cotiviti.

Cotiviti (NYSE:COTV) last released its earnings results on Tuesday, October 31st. The business services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Cotiviti had a net margin of 13.86% and a return on equity of 13.61%. The company had revenue of $174.20 million for the quarter, compared to analysts’ expectations of $174.01 million. During the same quarter last year, the business earned $0.36 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year.

COTV has been the topic of a number of recent analyst reports. BidaskClub cut shares of Cotiviti from a “hold” rating to a “sell” rating in a research note on Monday, September 18th. Zacks Investment Research cut shares of Cotiviti from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd. Jefferies Group decreased their target price on shares of Cotiviti from $41.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, November 3rd. SunTrust Banks restated a “buy” rating and set a $45.00 target price on shares of Cotiviti in a research note on Friday, November 10th. Finally, Deutsche Bank initiated coverage on shares of Cotiviti in a research note on Friday. They set a “hold” rating and a $34.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Cotiviti presently has a consensus rating of “Hold” and a consensus price target of $40.38.

In other Cotiviti news, COO David Beaulieu sold 5,000 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $35.00, for a total transaction of $175,000.00. Following the completion of the sale, the chief operating officer now directly owns 43,133 shares of the company’s stock, valued at approximately $1,509,655. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jonathan Olefson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $32.37, for a total transaction of $485,550.00. Following the sale, the senior vice president now directly owns 15,149 shares of the company’s stock, valued at $490,373.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,440 shares of company stock valued at $4,372,040. Insiders own 15.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of Cotiviti by 31.1% in the second quarter. FMR LLC now owns 2,664,830 shares of the business services provider’s stock valued at $98,972,000 after purchasing an additional 631,655 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Cotiviti by 18.0% in the second quarter. Vanguard Group Inc. now owns 2,509,612 shares of the business services provider’s stock valued at $93,207,000 after purchasing an additional 382,020 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Cotiviti by 5.0% in the third quarter. JPMorgan Chase & Co. now owns 2,087,341 shares of the business services provider’s stock valued at $74,414,000 after purchasing an additional 99,100 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Cotiviti by 10.2% in the second quarter. Eagle Asset Management Inc. now owns 1,904,283 shares of the business services provider’s stock valued at $70,725,000 after purchasing an additional 176,870 shares in the last quarter. Finally, Brown Advisory Inc. grew its holdings in shares of Cotiviti by 63.1% in the third quarter. Brown Advisory Inc. now owns 1,351,344 shares of the business services provider’s stock valued at $48,621,000 after purchasing an additional 522,956 shares in the last quarter. 86.18% of the stock is owned by hedge funds and other institutional investors.

Cotiviti (NYSE COTV) traded up $0.26 during midday trading on Friday, reaching $32.11. 320,436 shares of the company’s stock were exchanged, compared to its average volume of 402,632. Cotiviti has a 12 month low of $30.84 and a 12 month high of $45.97. The company has a market cap of $2,970.00 and a PE ratio of 22.27. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.44 and a current ratio of 1.44.

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Cotiviti 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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