Zacks Investment Research downgraded shares of Catasys (NASDAQ:CATS) from a buy rating to a hold rating in a research note released 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. “

A number of other research firms have also recently issued reports on CATS. Canaccord Genuity increased their target price on Catasys from $10.00 to $12.00 and gave the stock a buy rating in a research note on Wednesday, August 15th. TheStreet raised Catasys from an e+ rating to a c rating in a research note on Thursday, November 29th. Finally, ValuEngine raised Catasys from a buy rating to a strong-buy rating in a research note on Tuesday, October 2nd.

Shares of CATS stock opened at $11.36 on Tuesday. Catasys has a one year low of $3.30 and a one year high of $14.29.

Catasys (NASDAQ:CATS) last announced its quarterly earnings results on Wednesday, November 14th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.02. The company had revenue of $4.37 million during the quarter, compared to analysts’ expectations of $4.00 million. Catasys had a negative return on equity of 546.50% and a negative net margin of 122.75%. As a group, sell-side analysts predict that Catasys will post -1.07 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in Catasys by 205.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,418 shares of the company’s stock worth $134,000 after purchasing an additional 7,008 shares in the last quarter. Engineers Gate Manager LP bought a new stake in Catasys during the 3rd quarter worth approximately $139,000. Ancora Advisors LLC bought a new stake in Catasys during the 3rd quarter worth approximately $191,000. B. Riley Wealth Management Inc. bought a new stake in Catasys during the 3rd quarter worth approximately $217,000. Finally, EAM Investors LLC bought a new stake in Catasys during the 2nd quarter worth approximately $679,000. 11.14% of the stock is owned by institutional investors and hedge funds.

About Catasys

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.

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