Claritev (NYSE:CTEV) Receives $44.83 Consensus PT from Analysts

Claritev (NYSE:CTEV) has been given an average recommendation of “Moderate Buy” by the nine research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $44.8333.

A number of analysts have weighed in on CTEV shares. Weiss Ratings restated a “sell (d-)” rating on shares of Claritev in a research note on Monday. Wall Street Zen upgraded Claritev from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Wells Fargo & Company raised their target price on Claritev from $22.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 12th. Citigroup restated a “buy” rating and set a $45.00 target price (up from $40.00) on shares of Claritev in a research note on Monday, August 10th. Finally, Canaccord Genuity Group upped their price target on Claritev from $37.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 10th.

Insider Activity at Claritev

In other news, SVP William Mintz sold 8,431 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $34.24, for a total value of $288,677.44. Following the completion of the transaction, the senior vice president owned 71,195 shares in the company, valued at approximately $2,437,716.80. This represents a 10.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Travis Dalton bought 1,950 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average cost of $38.48 per share, for a total transaction of $75,036.00. Following the completion of the transaction, the chief executive officer directly owned 52,322 shares in the company, valued at approximately $2,013,350.56. The trade was a 3.87% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 26,306 shares of company stock worth $919,372 over the last 90 days. 7.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Claritev

Several large investors have recently bought and sold shares of the stock. Arini Captial Management Ltd acquired a new stake in shares of Claritev during the fourth quarter worth about $64,291,000. Public Investment Fund purchased a new position in Claritev during the 2nd quarter worth approximately $43,703,438. Beach Point Capital Management LP grew its stake in Claritev by 77.4% during the 4th quarter. Beach Point Capital Management LP now owns 755,002 shares of the company’s stock worth $32,276,000 after buying an additional 329,424 shares during the last quarter. RBF Capital LLC increased its position in Claritev by 0.8% during the first quarter. RBF Capital LLC now owns 135,314 shares of the company’s stock worth $2,211,000 after buying an additional 1,127 shares during the period. Finally, Bank of America Corp DE increased its position in Claritev by 146.6% during the first quarter. Bank of America Corp DE now owns 97,795 shares of the company’s stock worth $1,598,000 after buying an additional 58,133 shares during the period. Institutional investors and hedge funds own 87.15% of the company’s stock.

Claritev Trading Down 13.9%

Shares of NYSE:CTEV opened at $25.36 on Monday. Claritev has a 52 week low of $11.50 and a 52 week high of $73.68. The company’s 50 day moving average is $32.48 and its two-hundred day moving average is $26.76. The company has a market cap of $429.85 million, a PE ratio of -1.49 and a beta of 0.88.

Claritev (NYSE:CTEV) last released its quarterly earnings data on Friday, August 7th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.10) by $5.51. The firm had revenue of $257.48 million for the quarter. As a group, equities research analysts expect that Claritev will post -15.13 EPS for the current year.

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.