Shares of Cotiviti Holdings Inc. , which provides payment accuracy services to healthcare providers, fell below its initial public offering price in morning trade Thursday. The stock’s first trade was at $19 at 10:45 a.m. ET, matching the IPO price. It has since dropped 1.9% below that price to change hands at $18.65 in recent trade. The company sold 12.5 million shares at $19 each, to raise $237.5 million. The IPO was at the top of the expected pricing range of $17 to $19.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News