Zacks Investment Research upgraded shares of Catasys (NASDAQ:CATS) from a hold rating to a buy rating in a research note issued to investors on Thursday. They currently have $13.00 price target on the stock.
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. “
Several other brokerages also recently commented on CATS. Canaccord Genuity boosted their price objective on Catasys from $10.00 to $12.00 and gave the company a buy rating in a research report on Wednesday, August 15th. TheStreet upgraded Catasys from an e+ rating to a c rating in a research report on Thursday, November 29th. Finally, ValuEngine upgraded Catasys from a buy rating to a strong-buy rating in a research report on Tuesday, October 2nd.
Catasys (NASDAQ:CATS) last released its earnings results on Wednesday, November 14th. The company reported ($0.27) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.02. The company had revenue of $4.37 million for the quarter, compared to the consensus estimate of $4.00 million. Catasys had a negative return on equity of 546.50% and a negative net margin of 122.75%. Analysts anticipate that Catasys will post -1.05 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in CATS. Uniplan Investment Counsel Inc. purchased a new position in shares of Catasys in the third quarter valued at about $3,511,000. Essex Investment Management Co. LLC purchased a new position in shares of Catasys in the third quarter valued at about $1,255,000. Vanguard Group Inc lifted its position in shares of Catasys by 53.8% in the third quarter. Vanguard Group Inc now owns 171,813 shares of the company’s stock valued at $2,208,000 after acquiring an additional 60,090 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Catasys by 53.8% in the third quarter. Vanguard Group Inc. now owns 171,813 shares of the company’s stock valued at $2,208,000 after acquiring an additional 60,090 shares in the last quarter. Finally, B. Riley Wealth Management Inc. purchased a new position in shares of Catasys in the third quarter valued at about $217,000. Institutional investors and hedge funds own 11.14% of the company’s stock.
Catasys Company Profile
Catasys, Inc provides big data predictive analytics, artificial intelligence and telehealth, combined with human intervention 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.
Featured Article: Intrinsic Value and Stock Selection
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Catasys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Catasys and related companies with MarketBeat.com's FREE daily email newsletter.