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 research report sent to investors 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. “

A number of other equities analysts have also recently issued reports on CATS. Dougherty & Co began coverage on shares of Catasys in a research report on Tuesday, May 7th. They issued a buy rating on the stock. Canaccord Genuity decreased their price objective on shares of Cronos Group from C$17.00 to C$16.00 in a research report on Friday, May 10th. Finally, BidaskClub cut shares of Vertex Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $19.00.

Shares of NASDAQ:CATS opened at $19.60 on Wednesday. The stock has a market cap of $317.81 million, a PE ratio of -22.02 and a beta of 1.66. The stock has a fifty day simple moving average of $18.46. Catasys has a 52 week low of $6.42 and a 52 week high of $20.83.

Catasys (NASDAQ:CATS) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.06. The firm had revenue of $6.81 million during the quarter, compared to analysts’ expectations of $5.64 million. Equities research analysts anticipate that Catasys will post -0.96 EPS for the current fiscal year.

In other Catasys news, major shareholder David E. Smith sold 50,815 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which is available at this hyperlink. Also, major shareholder David E. Smith sold 164,031 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $16.54, for a total transaction of $2,713,072.74. The disclosure for this sale can be found here. Insiders sold 401,811 shares of company stock worth $6,465,985 in the last 90 days. Corporate insiders own 60.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in CATS. Barclays PLC bought a new stake in shares of Catasys during the 4th quarter valued at about $455,000. Janney Montgomery Scott LLC boosted its stake in shares of Catasys by 19.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 171,223 shares of the company’s stock valued at $2,094,000 after purchasing an additional 27,467 shares in the last quarter. Kennedy Capital Management Inc. boosted its stake in shares of Catasys by 7.3% during the 1st quarter. Kennedy Capital Management Inc. now owns 301,087 shares of the company’s stock valued at $3,682,000 after purchasing an additional 20,469 shares in the last quarter. CIBC Private Wealth Group LLC bought a new stake in shares of Catasys during the 1st quarter valued at about $187,000. Finally, Westwood Management Corp IL boosted its stake in shares of Catasys by 37.5% during the 1st quarter. Westwood Management Corp IL now owns 55,000 shares of the company’s stock valued at $673,000 after purchasing an additional 15,000 shares in the last quarter. 12.66% of the stock is currently owned by hedge funds and other institutional investors.

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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