Claritev (NYSE:CTEV) Stock Price Down 6% – Here’s What Happened

Claritev (NYSE:CTEV) traded down 6% during mid-day trading on Monday . The stock traded as low as $30.68 and last traded at $30.68. 2,928 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 176,536 shares. The stock had previously closed at $32.64.

Analyst Ratings Changes

A number of brokerages have recently commented on CTEV. Citigroup reaffirmed a “buy” rating on shares of Claritev in a research report on Wednesday, May 13th. Canaccord Genuity Group assumed coverage on Claritev in a research report on Friday, May 29th. They set a “buy” rating and a $32.00 target price on the stock. Wells Fargo & Company lowered their price target on Claritev from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Claritev in a report on Wednesday, June 24th. Finally, Barclays began coverage on Claritev in a research report on Friday, April 24th. They issued an “overweight” rating and a $28.00 price objective for the company. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.67.

Claritev Price Performance

The stock has a market capitalization of $539.63 million, a price-to-earnings ratio of -1.83 and a beta of 0.69. The firm has a 50 day simple moving average of $26.77 and a 200-day simple moving average of $25.36.

Institutional Trading of Claritev

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new position in shares of Claritev during the third quarter valued at $1,245,000. Vanguard Group Inc. acquired a new stake in Claritev in the third quarter valued at $27,483,000. Citigroup Inc. bought a new position in Claritev during the 3rd quarter worth $2,025,000. Ameritas Investment Partners Inc. acquired a new position in Claritev during the 3rd quarter worth about $42,000. Finally, Quantbot Technologies LP bought a new stake in shares of Claritev in the 3rd quarter valued at about $385,000. Institutional investors and hedge funds 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.