Claritev (NYSE:CTEV) Now Covered by Guggenheim

Stock analysts at Guggenheim initiated coverage on shares of Claritev (NYSE:CTEV) in a note issued to investors on Monday. The firm set a “buy” rating and a $43.00 price target on the stock. Guggenheim’s price target suggests a potential upside of 47.36% from the company’s current price.

Several other research analysts also recently weighed in on the company. Wells Fargo & Company set a $33.00 target price on Claritev and gave the company an “equal weight” rating in a research note on Thursday. Citigroup lowered their price objective on shares of Claritev from $80.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Claritev in a research report on Monday, December 29th. Two 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. Based on data from MarketBeat.com, Claritev currently has an average rating of “Hold” and a consensus target price of $46.33.

Claritev Stock Down 6.5%

NYSE CTEV opened at $29.18 on Monday. The firm has a market cap of $482.35 million, a P/E ratio of -1.40 and a beta of 0.51. Claritev has a 52-week low of $11.70 and a 52-week high of $74.07. The business’s 50-day moving average price is $44.45 and its 200 day moving average price is $51.71.

Insider Activity at Claritev

In related news, EVP Michael Kim acquired 9,600 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were purchased at an average price of $38.25 per share, with a total value of $367,200.00. Following the completion of the acquisition, the executive vice president owned 105,529 shares in the company, valued at approximately $4,036,484.25. This represents a 10.01% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP William B. Mintz bought 916 shares of the stock in a transaction on Monday, November 17th. The shares were bought at an average price of $38.00 per share, for a total transaction of $34,808.00. Following the completion of the transaction, the senior vice president directly owned 65,325 shares of the company’s stock, valued at $2,482,350. This trade represents a 1.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 17,347 shares of company stock valued at $710,938. Company insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Claritev

A number of hedge funds and other institutional investors have recently modified their holdings of CTEV. Public Investment Fund acquired a new position in shares of Claritev in the third quarter worth $68,009,000. Nomura Holdings Inc. acquired a new stake in shares of Claritev during the third quarter valued at $7,817,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Claritev during the 3rd quarter worth about $187,000. Bank of America Corp DE acquired a new position in Claritev in the 3rd quarter valued at about $3,556,000. Finally, Bridgeway Capital Management LLC acquired a new position in Claritev in the 3rd quarter valued at about $1,026,000. 87.15% of the stock is currently owned by institutional investors and hedge funds.

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.