Citigroup Lowers Claritev (NYSE:CTEV) Price Target to $21.00

Claritev (NYSE:CTEV) had its target price lowered by investment analysts at Citigroup from $63.00 to $21.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 51.52% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company set a $30.00 price objective on shares of Claritev and gave the company an “equal weight” rating in a report on Tuesday. Guggenheim reiterated a “buy” rating on shares of Claritev in a report on Tuesday. UBS Group reiterated a “buy” rating on shares of Claritev in a research report on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Claritev in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $29.67.

Claritev Trading Up 2.1%

CTEV stock traded up $0.29 during mid-day trading on Wednesday, reaching $13.86. The company’s stock had a trading volume of 561,004 shares, compared to its average volume of 202,713. The stock has a market cap of $228.81 million, a PE ratio of -0.80 and a beta of 0.51. Claritev has a fifty-two week low of $12.04 and a fifty-two week high of $74.07. The company’s 50 day moving average is $30.51 and its two-hundred day moving average is $47.68.

Claritev (NYSE:CTEV) last issued its earnings results on Monday, February 23rd. The company reported ($4.88) earnings per share for the quarter, missing the consensus estimate of ($3.96) by ($0.92). The company had revenue of $246.55 million for the quarter. Claritev had a negative return on equity of 245.89% and a negative net margin of 29.45%. On average, analysts forecast that Claritev will post -6.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming purchased a new stake in Claritev during the 4th quarter worth approximately $25,000. Ameritas Investment Partners Inc. acquired a new position in shares of Claritev in the third quarter worth $42,000. Legal & General Group Plc purchased a new stake in shares of Claritev during the third quarter worth $45,000. Los Angeles Capital Management LLC purchased a new stake in shares of Claritev during the fourth quarter worth $45,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Claritev in the third quarter valued at $79,000. Hedge funds and other institutional investors own 87.15% of the company’s stock.

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.