Wells Fargo & Company Lowers Claritev (NYSE:CTEV) Price Target to $22.00

Claritev (NYSE:CTEV) had its price target dropped by stock analysts at Wells Fargo & Company from $30.00 to $22.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 34.97% from the stock’s previous close.

A number of other research firms also recently issued reports on CTEV. Guggenheim restated a “buy” rating on shares of Claritev in a research note on Tuesday, February 24th. Citigroup lowered their price objective on shares of Claritev from $63.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. UBS Group reaffirmed a “buy” rating on shares of Claritev in a report on Tuesday, February 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $27.00.

Claritev Trading Up 0.1%

CTEV stock traded up $0.02 during trading on Thursday, reaching $16.30. The stock had a trading volume of 11,771 shares, compared to its average volume of 221,706. Claritev has a 52 week low of $12.04 and a 52 week high of $74.07. The stock’s 50 day moving average is $23.07 and its two-hundred day moving average is $41.98. The firm has a market cap of $269.11 million, a PE ratio of -0.94 and a beta of 0.60.

Insider Buying and Selling at Claritev

In other Claritev news, EVP Michael Kim acquired 30,000 shares of the stock in a transaction dated Friday, February 27th. The shares were acquired at an average cost of $14.30 per share, for a total transaction of $429,000.00. Following the completion of the transaction, the executive vice president directly owned 137,973 shares of the company’s stock, valued at approximately $1,973,013.90. The trade was a 27.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Travis Dalton acquired 15,380 shares of the stock in a transaction dated Friday, February 27th. The stock was acquired at an average price of $13.00 per share, for a total transaction of $199,940.00. Following the completion of the transaction, the chief executive officer directly owned 24,952 shares of the company’s stock, valued at approximately $324,376. This represents a 160.68% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 61,680 shares of company stock valued at $899,437 in the last ninety days. 8.00% of the stock is currently owned by insiders.

Institutional Trading of Claritev

Several institutional investors have recently made changes to their positions in the business. H&F Corporate Investors VIII Ltd. bought a new position in shares of Claritev during the 3rd quarter valued at approximately $285,988,000. AustralianSuper Pty Ltd bought a new stake in Claritev in the third quarter worth $169,605,000. Arini Captial Management Ltd bought a new stake in Claritev in the fourth quarter worth $64,291,000. Public Investment Fund purchased a new stake in Claritev during the third quarter valued at $68,009,000. Finally, Beach Point Capital Management LP raised its stake in Claritev by 77.4% during the fourth quarter. Beach Point Capital Management LP now owns 755,002 shares of the company’s stock valued at $32,276,000 after purchasing an additional 329,424 shares in the last quarter. Hedge funds and other institutional investors own 87.15% of the company’s stock.

Claritev Company Profile

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.