Catasys (NASDAQ:CATS) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Catasys (NASDAQ:CATS) from a sell rating to a hold rating in a research report report published on Tuesday morning, Zacks.com reports.

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 research analysts have also recently commented on the stock. BidaskClub cut shares of Catasys from a buy rating to a hold rating in a research report on Thursday, October 3rd. ValuEngine cut shares of Catasys from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Catasys has a consensus rating of Buy and an average price target of $18.80.

Shares of NASDAQ CATS opened at $14.22 on Tuesday. The firm has a 50-day simple moving average of $15.56 and a 200-day simple moving average of $16.48. The stock has a market capitalization of $248.94 million, a price-to-earnings ratio of -15.98 and a beta of 1.65. Catasys has a 52 week low of $7.51 and a 52 week high of $20.83.

Catasys (NASDAQ:CATS) last issued its earnings results on Wednesday, August 14th. The company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.03). The firm had revenue of $7.68 million for the quarter, compared to analyst estimates of $6.72 million. Equities research analysts expect that Catasys will post -1.06 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Catasys by 3,667.0% during the second quarter. BlackRock Inc. now owns 460,664 shares of the company’s stock worth $8,855,000 after purchasing an additional 448,435 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Catasys by 43.9% during the second quarter. Vanguard Group Inc. now owns 389,307 shares of the company’s stock valued at $7,482,000 after acquiring an additional 118,792 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Catasys by 332.7% during the second quarter. Allianz Asset Management GmbH now owns 209,542 shares of the company’s stock valued at $4,027,000 after acquiring an additional 161,111 shares during the last quarter. Westwood Management Corp IL increased its position in shares of Catasys by 127.3% during the second quarter. Westwood Management Corp IL now owns 125,000 shares of the company’s stock valued at $2,402,000 after acquiring an additional 70,000 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Catasys by 26.3% during the second quarter. Invesco Ltd. now owns 109,157 shares of the company’s stock valued at $2,098,000 after acquiring an additional 22,728 shares during the last quarter. Hedge funds and other institutional investors own 19.15% of the company’s stock.

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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