Catasys (NASDAQ:CATS) Rating Increased to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Catasys (NASDAQ:CATS) from a hold rating to a strong-buy rating in a report published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $21.00 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 research analysts also recently commented on CATS. Canaccord Genuity cut their price objective on shares of Cronos Group from C$17.00 to C$16.00 in a report on Friday, May 10th. BidaskClub downgraded shares of Vertex Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, July 9th. Finally, Dougherty & Co started coverage on shares of Catasys in a report on Tuesday, May 7th. They issued a buy rating for the company. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $19.00.

Shares of CATS stock opened at $19.60 on Wednesday. The business’s 50 day moving average is $18.46. The stock has a market cap of $317.81 million, a price-to-earnings ratio of -22.02 and a beta of 1.66. Catasys has a 12-month low of $6.42 and a 12-month high of $20.83.

Catasys (NASDAQ:CATS) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.18) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.06. The business had revenue of $6.81 million during the quarter, compared to the consensus estimate of $5.64 million. Equities research analysts expect that Catasys will post -0.96 EPS for the current year.

In related news, major shareholder David E. Smith sold 50,815 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $15.78, for a total value of $801,860.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David E. Smith sold 135,773 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $14.99, for a total transaction of $2,035,237.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 401,811 shares of company stock valued at $6,465,985. 60.80% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new position in Catasys in the 1st quarter valued at $47,000. Baldwin Brothers Inc. MA boosted its holdings in Catasys by 22.2% in the 1st quarter. Baldwin Brothers Inc. MA now owns 27,500 shares of the company’s stock valued at $336,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC boosted its holdings in Catasys by 27.2% in the 4th quarter. Geode Capital Management LLC now owns 28,315 shares of the company’s stock valued at $265,000 after purchasing an additional 6,050 shares during the period. Northern Trust Corp boosted its holdings in Catasys by 95.2% in the 4th quarter. Northern Trust Corp now owns 19,634 shares of the company’s stock valued at $184,000 after purchasing an additional 9,578 shares during the period. Finally, WINTON GROUP Ltd bought a new position in Catasys in the 2nd quarter valued at $227,000. 12.66% of the stock is owned by hedge funds and other institutional investors.

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.

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