Analysts Anticipate Cotiviti Holdings Inc (COTV) Will Announce Earnings of $0.48 Per Share

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Brokerages forecast that Cotiviti Holdings Inc (NYSE:COTV) will announce earnings of $0.48 per share for the current quarter, according to Zacks. Seven analysts have issued estimates for Cotiviti’s earnings, with estimates ranging from $0.45 to $0.50. Cotiviti posted earnings per share of $0.39 in the same quarter last year, which would suggest a positive year over year growth rate of 23.1%. The company is expected to announce its next quarterly earnings report on Tuesday, October 30th.

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 year, analysts expect that the firm will report earnings of $2.07 per share, with EPS estimates ranging from $2.01 to $2.12. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Cotiviti.

Cotiviti (NYSE:COTV) last announced its quarterly earnings results on Thursday, July 26th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. Cotiviti had a return on equity of 12.44% and a net margin of 21.49%. The company had revenue of $176.85 million during the quarter, compared to the consensus estimate of $183.38 million. During the same period in the prior year, the company earned $0.38 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year.

Several equities research analysts have issued reports on COTV shares. Mitsubishi UFJ Financial Group downgraded Cotiviti from an “overweight” rating to a “neutral” rating in a report on Tuesday, June 19th. Credit Suisse Group lowered Cotiviti from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $46.00 to $44.75 in a research note on Thursday, June 21st. JPMorgan Chase & Co. lowered Cotiviti from an “overweight” rating to a “hold” rating and set a $37.00 target price on the stock. in a research note on Tuesday, April 24th. Zacks Investment Research upgraded Cotiviti from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Wednesday, April 18th. Finally, Leerink Swann lowered Cotiviti from an “outperform” rating to a “market perform” rating and set a $48.00 target price on the stock. in a research note on Tuesday, July 3rd. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $36.07.

Shares of Cotiviti traded up $0.05, hitting $44.66, during trading hours on Friday, MarketBeat Ratings reports. The company’s stock had a trading volume of 342,788 shares, compared to its average volume of 390,143. Cotiviti has a 12 month low of $30.84 and a 12 month high of $44.76. The company has a market capitalization of $4.18 billion, a P/E ratio of 29.74, a price-to-earnings-growth ratio of 2.09 and a beta of 0.52. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.41 and a quick ratio of 3.41.

In other Cotiviti news, COO David Beaulieu sold 5,000 shares of the firm’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $44.41, for a total value of $222,050.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jonathan Olefson sold 20,000 shares of the firm’s stock in a transaction on Tuesday, June 19th. The shares were sold at an average price of $41.10, for a total value of $822,000.00. Following the completion of the sale, the senior vice president now directly owns 20,884 shares in the company, valued at approximately $858,332.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,800 shares of company stock worth $4,543,550. Corporate insiders own 7.50% of the company’s stock.

Several hedge funds have recently modified their holdings of COTV. Mint Tower Capital Management B.V. acquired a new stake in shares of Cotiviti in the 2nd quarter valued at $114,000. SG Americas Securities LLC acquired a new stake in shares of Cotiviti in the 1st quarter valued at $124,000. Bank of Montreal Can acquired a new stake in shares of Cotiviti in the 2nd quarter valued at $213,000. GSA Capital Partners LLP acquired a new stake in shares of Cotiviti in the 1st quarter valued at $214,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Cotiviti in the 1st quarter valued at $239,000. 91.52% of the stock is currently owned by hedge funds and other institutional investors.

Cotiviti Company Profile

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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