Claritev (NYSE:CTEV) Stock Rated “Moderate Buy” by Sell-Side Brokerages

by · The Cerbat Gem

Claritev (NYSE:CTEV – Get Free Report) has been given an average rating of “Moderate Buy” by the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $44.83.

CTEV has been the topic of a number of analyst reports. Wells Fargo & Company increased their target price on shares of Claritev from $22.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 12th. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 target price on shares of Claritev in a report on Wednesday, August 12th. Barclays reiterated an “overweight” rating and issued a $40.00 price target (up from $28.00) on shares of Claritev in a research report on Thursday, August 20th. Citigroup reiterated a “buy” rating and issued a $45.00 price target (up from $40.00) on shares of Claritev in a research report on Monday, August 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a research note on Monday, September 21st.

Check Out Our Latest Stock Analysis on Claritev

Claritev Stock Performance

Shares of Claritev stock opened at $22.38 on Friday. The firm has a 50-day moving average of $31.16 and a 200-day moving average of $27.71. Claritev has a 52-week low of $11.50 and a 52-week high of $73.68. The stock has a market cap of $379.34 million, a PE ratio of -1.32 and a beta of 0.93.

Claritev (NYSE:CTEV – Get Free Report) last released its quarterly earnings results on Friday, August 7th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of ($4.10) by $5.51. The business had revenue of $257.48 million for the quarter. Equities research analysts predict that Claritev will post -15.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP William B. Mintz sold 8,431 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $34.24, for a total transaction of $288,677.44. Following the completion of the sale, the senior vice president directly owned 71,195 shares in the company, valued at approximately $2,437,716.80. This represents a 10.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Tiffani Misencik sold 8,850 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $40.07, for a total value of $354,619.50. Following the sale, the senior vice president directly owned 123,723 shares in the company, valued at approximately $4,957,580.61. This trade represents a 6.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,118 shares of company stock valued at $1,057,755 over the last 90 days. 7.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Public Investment Fund acquired a new stake in Claritev during the second quarter worth about $43,703,438. Bank of America Corp DE increased its holdings in Claritev by 146.6% in the 1st quarter. Bank of America Corp DE now owns 97,795 shares of the company’s stock valued at $1,598,000 after buying an additional 58,133 shares during the period. Arini Captial Management Ltd bought a new position in Claritev in the 4th quarter valued at about $64,291,000. Engineers Gate Manager LP bought a new position in Claritev in the 2nd quarter valued at about $245,000. Finally, Integrated Wealth Concepts LLC bought a new position in Claritev in the 2nd quarter valued at about $44,000. Institutional investors own 87.15% of the company’s stock.

Claritev Company Profile

(Get Free Report)

Claritev is a healthcare technology, data and insights company focused on improving affordability,  transparency and quality. Led by deeply experienced associates, data scientists, and innovators, Claritev provides tech-enabled solutions and services fueled by multiple data sources from over 40 years of claims repricing. Claritev utilizes world-class technology and AI solutions to power a robust enterprise platform that delivers meaningful insights to drive affordability in healthcare, brings price transparency and optimizes networks and benefits design.

Featured Articles