Claritev (NYSE:CTEV) Stock Has Consensus Target Price of $44.83 According to Brokerages

Claritev (NYSE:CTEV) has earned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $44.83.

A number of research firms recently issued reports on CTEV. Barclays reaffirmed an “overweight” rating and issued a $40.00 price target (up from $28.00) on shares of Claritev in a report on Thursday, August 20th. Citigroup reissued a “buy” rating and set a $45.00 price objective (up from $40.00) on shares of Claritev in a report on Monday, August 10th. Canaccord Genuity Group increased their price objective on shares of Claritev from $37.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Piper Sandler restated an “overweight” rating and issued a $73.00 price objective on shares of Claritev in a research report on Wednesday, August 12th. Finally, Wells Fargo & Company boosted their target price on shares of Claritev from $22.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 12th.

Claritev Price Performance

NYSE CTEV opened at $23.49 on Friday. The stock’s 50 day simple moving average is $30.55 and its 200 day simple moving average is $27.79. Claritev has a one year low of $11.50 and a one year high of $73.68. The firm has a market cap of $398.16 million, a PE ratio of -1.38 and a beta of 0.93.

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

Insider Activity at Claritev

In other news, CFO Douglas Garis sold 9,025 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $30.59, for a total transaction of $276,074.75. Following the sale, the chief financial officer directly owned 185,416 shares of the company’s stock, valued at $5,671,875.44. This represents a 4.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP William Mintz sold 8,431 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were 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 of the company’s stock, valued at approximately $2,437,716.80. This represents a 10.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 32,118 shares of company stock valued at $1,057,755 over the last ninety days. Company insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of Claritev by 2.5% during the first quarter. Bank of New York Mellon Corp now owns 18,111 shares of the company’s stock worth $296,000 after acquiring an additional 447 shares during the last quarter. RBF Capital LLC lifted its stake in shares of Claritev by 0.8% during the first quarter. RBF Capital LLC now owns 135,314 shares of the company’s stock valued at $2,211,000 after acquiring an additional 1,127 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Claritev during the second quarter valued at $44,000. State of Wyoming boosted its holdings in Claritev by 239.2% in the first quarter. State of Wyoming now owns 2,018 shares of the company’s stock valued at $33,000 after acquiring an additional 1,423 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Claritev in the first quarter valued at about $38,000. 87.15% of the stock is currently owned by institutional investors.

About Claritev

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.