Claritev (NYSE:CTEV) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Claritev (NYSE:CTEV) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $44.83.

A number of analysts recently weighed in on CTEV shares. Citigroup reissued a “buy” rating and issued a $45.00 price objective (up from $40.00) on shares of Claritev in a research report on Monday, August 10th. Canaccord Genuity Group upped their target price on Claritev from $37.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a report on Monday, September 21st. Piper Sandler reissued an “overweight” rating and set a $73.00 price target on shares of Claritev in a research note on Wednesday, August 12th. Finally, Wells Fargo & Company boosted their price objective on Claritev from $22.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, August 12th.

Insiders Place Their Bets

In other news, CFO Douglas Garis sold 9,025 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $30.59, for a total value of $276,074.75. Following the transaction, the chief financial officer directly owned 185,416 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP William B. Mintz sold 8,431 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president directly owned 71,195 shares in the company, valued at $2,437,716.80. This represents a 10.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,306 shares of company stock valued at $919,372 in the last three months. 7.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Claritev

Large investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP purchased a new stake in shares of Claritev in the second quarter valued at approximately $245,000. Integrated Wealth Concepts LLC purchased a new position in Claritev during the 2nd quarter worth $44,000. Public Investment Fund bought a new stake in Claritev during the 2nd quarter valued at $43,703,438. FAS Wealth Partners Inc. raised its position in Claritev by 49.5% during the 1st quarter. FAS Wealth Partners Inc. now owns 46,477 shares of the company’s stock valued at $759,000 after purchasing an additional 15,380 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Claritev by 146.6% in the 1st 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. 87.15% of the stock is owned by hedge funds and other institutional investors.

Claritev Stock Down 0.2%

Shares of CTEV opened at $23.15 on Monday. The business has a fifty day moving average of $32.19 and a 200 day moving average of $26.85. The company has a market cap of $392.39 million, a PE ratio of -1.36 and a beta of 0.88. Claritev has a 52-week low of $11.50 and a 52-week high of $73.68.

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

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.