NEW YORK (TheStreet) -- Catamaran Corp
(CTRX) stock is surging on Thursday after the managed healthcare provider reported better-than-expected earnings and revenue in its first quarter.
By midafternoon, shares had spiked 11.7% to $42.16.
In its March-ending quarter, Schaumburg, Ill.-based Catamaran reported net income of 50 cents a share, 6 cents higher than analysts' estimates according to Thomson Reuters surveys. Revenue soared 52.2% year over year to $4.9 billion. Analysts expected $4.69 billion in revenue.
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TheStreet Ratings team rates CATAMARAN COP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate CATAMARAN CORP (CTRX) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."
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