Zacks: Analysts Expect Cotiviti Holdings Inc (COTV) Will Post Earnings of $0.44 Per Share

Brokerages expect that Cotiviti Holdings Inc (NYSE:COTV) will announce $0.44 earnings per share for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Cotiviti’s earnings. The highest EPS estimate is $0.45 and the lowest is $0.42. Cotiviti posted earnings per share of $0.38 in the same quarter last year, which would indicate a positive year over year growth rate of 15.8%. The company is expected to report its next earnings report on Tuesday, August 7th.

On average, analysts expect that Cotiviti will report full year earnings of $1.89 per share for the current fiscal year, with EPS estimates ranging from $1.82 to $1.94. For the next fiscal year, analysts anticipate that the company will post earnings of $2.08 per share, with EPS estimates ranging from $2.01 to $2.12. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Cotiviti.

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Cotiviti (NYSE:COTV) last issued its quarterly earnings results on Tuesday, May 1st. The business services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The business had revenue of $219.03 million during the quarter, compared to analysts’ expectations of $176.15 million. Cotiviti had a return on equity of 12.68% and a net margin of 22.39%. The business’s quarterly revenue was up 36.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 earnings per share.

A number of equities analysts recently commented on COTV shares. TheStreet raised Cotiviti from a “c” rating to a “b-” rating in a research note on Friday, May 25th. Zacks Investment Research downgraded Cotiviti from a “buy” rating to a “hold” rating in a report on Tuesday, April 24th. JPMorgan Chase & Co. downgraded Cotiviti from an “overweight” rating to a “hold” rating and set a $37.00 price objective on the stock. in a report on Tuesday, April 24th. Finally, First Analysis downgraded Cotiviti from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $48.00 to $40.00 in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $40.44.

COTV traded down $0.13 during midday trading on Friday, reaching $33.98. The company had a trading volume of 161,774 shares, compared to its average volume of 407,709. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 0.64. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 1.62 and a beta of 0.84. Cotiviti has a 1 year low of $30.84 and a 1 year high of $45.97.

In other Cotiviti news, COO David Beaulieu sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 18th. The stock was sold at an average price of $35.00, for a total value of $175,000.00. Following the sale, the chief operating officer now owns 44,425 shares of the company’s stock, valued at $1,554,875. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO J Douglas Williams sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, April 12th. The shares were sold at an average price of $34.18, for a total value of $1,025,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,769,996 shares in the company, valued at approximately $94,678,463.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,000 shares of company stock worth $6,756,450. Insiders own 7.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in COTV. Dimensional Fund Advisors LP purchased a new stake in shares of Cotiviti during the third quarter worth $10,879,000. First Quadrant L P CA acquired a new stake in shares of Cotiviti during the fourth quarter worth about $254,000. Cigna Investments Inc. New acquired a new stake in shares of Cotiviti during the fourth quarter worth about $264,000. Cambiar Investors LLC acquired a new stake in shares of Cotiviti during the fourth quarter worth about $3,928,000. Finally, CI Global Investments Inc. acquired a new stake in shares of Cotiviti during the fourth quarter worth about $7,675,000. 97.11% of the stock is currently owned by institutional investors.

About Cotiviti

Cotiviti Holdings, Inc, through its subsidiaries, provides analytics-driven payment accuracy and spend management solutions primarily for the healthcare sector in the United States, Canada, the United Kingdom, and India. It operates through two segments, Healthcare, and Global Retail and Other. The company offers prospective claims accuracy solutions that enable healthcare clients identify and address claim discrepancies immediately following claim adjudication and before a claim is paid to a healthcare provider; and retrospective claims accuracy solutions that enable health insurers identify and resolve payment inaccuracies after a claim has been paid to a healthcare provider.

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