Zacks Investment Research Downgrades Catasys (CATS) to Sell

Catasys (NASDAQ:CATS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “Catasys, Inc., formerly known as Hythiam, Inc., provides specialized behavioral health management services to health plans, employers and unions through a network of licensed and company managed health care providers. The Company’s program seeks to improve member health by delivering medical and psychosocial interventions in combination with long term care coaching, including their proprietary treatment program for alcoholism and stimulant dependence. Catasys, Inc. is based in Los Angeles. “

CATS has been the topic of several other reports. ValuEngine downgraded Catasys from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Telsey Advisory Group started coverage on Catasys in a report on Wednesday, October 18th. They set a “buy” rating on the stock. Finally, Taglich Brothers started coverage on Catasys in a report on Wednesday, October 18th. They set a “speculative buy” rating and a $8.00 target price on the stock.

Catasys (NASDAQ:CATS) opened at $3.49 on Tuesday. Catasys has a twelve month low of $3.30 and a twelve month high of $14.00.

A number of institutional investors and hedge funds have recently made changes to their positions in CATS. Kennedy Capital Management Inc. acquired a new position in Catasys during the 2nd quarter worth about $1,385,000. Bard Associates Inc. acquired a new position in Catasys during the 2nd quarter worth about $1,012,000. FNY Partners Fund LP acquired a new position in Catasys during the 2nd quarter worth about $1,560,000. Finally, UBS Oconnor LLC acquired a new position in Catasys during the 2nd quarter worth about $834,000. 6.39% of the stock is currently owned by hedge funds and other institutional investors.

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About Catasys

Catasys, Inc provides data analytics based specialized behavioral health management and integrated treatment services to health plans and other third party payors. It offers OnTrak solution to improve treatment outcomes and lower the utilization of medical and behavioral health plan services. The company’s OnTrak solution includes medical and psychosocial interventions; and a proprietary Web based clinical information platform and database, psychosocial programs, and integrated care coaching services.

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