Claritev (NYSE:CTEV) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Claritev (NYSE:CTEV) posted its quarterly earnings data on Monday. The company reported ($3.64) EPS for the quarter, topping analysts’ consensus estimates of ($3.68) by $0.04, Zacks reports.

Claritev Stock Up 0.2%

CTEV stock opened at $22.75 on Monday. Claritev has a twelve month low of $11.50 and a twelve month high of $73.68. The company has a market cap of $385.54 million, a PE ratio of -1.34 and a beta of 1.05. The business’s 50-day simple moving average is $27.44 and its 200 day simple moving average is $25.51.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CTEV shares. Barclays reissued an “overweight” rating and set a $40.00 target price (up from $28.00) on shares of Claritev in a research note on Thursday, August 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Claritev in a research report on Monday, September 21st. Citigroup reiterated a “buy” rating and set a $45.00 price target (up from $40.00) on shares of Claritev in a report on Monday, August 10th. Zacks Research raised Claritev from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, Wells Fargo & Company upped their price target on Claritev from $22.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 12th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Claritev has a consensus rating of “Moderate Buy” and a consensus price target of $44.83.

Insider Transactions at Claritev

In other news, CFO Douglas Garis sold 9,025 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $30.59, for a total transaction of $276,074.75. Following the sale, the chief financial officer directly owned 185,416 shares in the company, valued at approximately $5,671,875.44. The trade was 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 Tiffani Misencik sold 8,850 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $40.07, for a total value of $354,619.50. Following the sale, the senior vice president owned 123,723 shares in the company, valued at approximately $4,957,580.61. This represents a 6.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders bought 77,284 shares of company stock worth $1,927,655 and sold 23,687 shares worth $769,078. Corporate insiders own 7.40% of the company’s stock.

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.