Claritev (NYSE:CTEV) Posts Earnings Results

Claritev (NYSE:CTEV) released its earnings results on Monday. The company reported ($4.88) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $246.55 million during the quarter. Claritev had a negative return on equity of 245.89% and a negative net margin of 35.93%.

Claritev Price Performance

Shares of NYSE:CTEV traded down $0.17 during trading on Monday, reaching $23.10. The stock had a trading volume of 115,830 shares, compared to its average volume of 159,867. The stock has a market capitalization of $381.38 million, a PE ratio of -1.10 and a beta of 0.51. Claritev has a 52 week low of $12.86 and a 52 week high of $74.07. The business’s 50-day moving average price is $31.29 and its 200 day moving average price is $48.17.

Institutional Investors Weigh In On Claritev

A number of hedge funds have recently added to or reduced their stakes in CTEV. H&F Corporate Investors VIII Ltd. bought a new position in shares of Claritev in the 3rd quarter worth $285,988,000. AustralianSuper Pty Ltd acquired a new position in Claritev in the third quarter valued at about $169,605,000. Arini Captial Management Ltd acquired a new position in Claritev in the fourth quarter valued at about $64,291,000. Public Investment Fund bought a new position in Claritev during the third quarter worth about $68,009,000. Finally, Beach Point Capital Management LP grew its position in shares of 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 period. Institutional investors own 87.15% of the company’s stock.

Wall Street Analyst Weigh In

CTEV has been the topic of a number of recent research reports. Guggenheim assumed coverage on Claritev in a research report on Monday, January 12th. They set a “buy” rating and a $43.00 target price on the stock. Wells Fargo & Company set a $33.00 price objective on Claritev and gave the stock an “equal weight” rating in a report on Thursday, January 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Claritev in a research report on Monday, December 29th. Finally, Citigroup reduced their target price on Claritev from $80.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, January 9th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $46.33.

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.