Analysts Issue Forecasts for Cotiviti Holdings Inc’s Q1 2018 Earnings (COTV)
Cotiviti Holdings Inc (NYSE:COTV) – Stock analysts at SunTrust Banks issued their Q1 2018 earnings estimates for shares of Cotiviti in a research report issued to clients and investors on Monday. SunTrust Banks analyst S. Draper expects that the business services provider will post earnings per share of $0.34 for the quarter. SunTrust Banks has a “Buy” rating and a $45.00 price target on the stock. SunTrust Banks also issued estimates for Cotiviti’s Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.42 EPS and Q4 2018 earnings at $0.49 EPS.
A number of other equities analysts have also issued reports on the stock. First Analysis lowered shares of Cotiviti from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $48.00 to $40.00 in a research report on Friday, February 23rd. Zacks Investment Research raised shares of Cotiviti from a “sell” rating to a “hold” rating in a research report on Wednesday. Citigroup initiated coverage on shares of Cotiviti in a research report on Thursday, January 4th. They set a “buy” rating on the stock. Deutsche Bank initiated coverage on shares of Cotiviti in a research report on Friday, December 8th. They set a “hold” rating and a $34.00 target price on the stock. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $44.00 target price on shares of Cotiviti in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $41.00.
Cotiviti (NYSE:COTV) last issued its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.04. Cotiviti had a net margin of 20.36% and a return on equity of 13.29%. The business had revenue of $176.70 million during the quarter, compared to analysts’ expectations of $179.43 million. During the same period in the previous year, the company earned $0.39 earnings per share. Cotiviti’s revenue for the quarter was up 5.2% on a year-over-year basis.
A number of institutional investors have recently made changes to their positions in the business. Balentine LLC bought a new stake in Cotiviti in the 4th quarter valued at $136,691,000. MetLife Investment Advisors LLC bought a new stake in Cotiviti in the 4th quarter valued at $560,000. Gotham Asset Management LLC increased its holdings in Cotiviti by 23.9% in the 4th quarter. Gotham Asset Management LLC now owns 356,033 shares of the business services provider’s stock valued at $11,468,000 after buying an additional 68,743 shares during the period. Metropolitan Life Insurance Co. NY bought a new stake in Cotiviti in the 4th quarter valued at $397,000. Finally, LPL Financial LLC increased its holdings in Cotiviti by 30.3% in the 4th quarter. LPL Financial LLC now owns 12,052 shares of the business services provider’s stock valued at $388,000 after buying an additional 2,802 shares during the period. 87.06% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO J Douglas Williams sold 31,547 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $31.98, for a total transaction of $1,008,873.06. Following the transaction, the chief executive officer now owns 2,768,207 shares of the company’s stock, valued at $88,527,259.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David Beaulieu sold 15,000 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $35.00, for a total transaction of $525,000.00. Following the completion of the sale, the chief operating officer now directly owns 49,573 shares in the company, valued at approximately $1,735,055. The disclosure for this sale can be found here. Insiders have sold 196,547 shares of company stock worth $6,595,323 in the last ninety days. 15.80% of the stock is currently owned by insiders.
COPYRIGHT VIOLATION WARNING: “Analysts Issue Forecasts for Cotiviti Holdings Inc’s Q1 2018 Earnings (COTV)” was reported by Daily Political and is the property of of Daily Political. If you are reading this story on another publication, it was stolen and republished in violation of international copyright legislation. The correct version of this story can be viewed at https://www.dailypolitical.com/2018/03/03/analysts-issue-forecasts-for-cotiviti-holdings-incs-q1-2018-earnings-cotv.html.
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.
Receive News & Ratings for Cotiviti Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cotiviti and related companies with MarketBeat.com's FREE daily email newsletter.