Wells Fargo & Company Cuts Claritev (NYSE:CTEV) Price Target to $22.00

Claritev (NYSE:CTEV) had its target price decreased by Wells Fargo & Company from $30.00 to $22.00 in a report released on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research analysts also recently weighed in on CTEV. Guggenheim reiterated a “buy” rating on shares of Claritev in a report on Tuesday, February 24th. UBS Group reissued a “buy” rating on shares of Claritev in a research note on Tuesday, February 24th. Citigroup decreased their price objective on Claritev from $63.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Claritev in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $27.00.

Claritev Stock Down 2.9%

Shares of NYSE:CTEV opened at $14.89 on Thursday. The company’s fifty day moving average is $22.46 and its two-hundred day moving average is $41.23. Claritev has a 12-month low of $12.04 and a 12-month high of $74.07. The company has a market cap of $245.83 million, a P/E ratio of -0.86 and a beta of 0.60.

Insider Buying and Selling at Claritev

In other news, EVP Michael Kim acquired 30,000 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was acquired at an average cost of $14.30 per share, for a total transaction of $429,000.00. Following the completion of the acquisition, the executive vice president owned 137,973 shares in the company, valued at approximately $1,973,013.90. The trade was a 27.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Travis Dalton acquired 15,380 shares of Claritev stock in a transaction that occurred on Friday, February 27th. The shares were purchased at an average cost of $13.00 per share, with a total value of $199,940.00. Following the transaction, the chief executive officer owned 24,952 shares of the company’s stock, valued at approximately $324,376. The trade was a 160.68% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 61,680 shares of company stock worth $899,437. 8.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. H&F Corporate Investors VIII Ltd. acquired a new stake in shares of Claritev during the 3rd quarter valued at about $285,988,000. AustralianSuper Pty Ltd acquired a new position in Claritev in the third quarter worth approximately $169,605,000. Arini Captial Management Ltd acquired a new position in Claritev in the fourth quarter worth approximately $64,291,000. Public Investment Fund bought a new position in Claritev during the third quarter valued at approximately $68,009,000. Finally, Vanguard Group Inc. bought a new position in Claritev during the third quarter valued at approximately $27,483,000. 87.15% of the stock is owned by institutional investors and hedge funds.

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.