Claritev (NYSE:CTEV) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Claritev (NYSE:CTEV) have been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $44.83.

CTEV has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price on Claritev from $22.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 12th. Barclays restated an “overweight” rating and issued a $40.00 price target (up from $28.00) on shares of Claritev in a research note on Thursday, August 20th. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 price target on shares of Claritev in a report on Wednesday, August 12th. Zacks Research raised Claritev from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Finally, Canaccord Genuity Group lifted their price objective on shares of Claritev from $37.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 10th.

Claritev Stock Performance

Shares of CTEV stock opened at $24.10 on Tuesday. Claritev has a 52-week low of $11.50 and a 52-week high of $72.67. The stock has a market cap of $408.50 million, a price-to-earnings ratio of -1.42 and a beta of 1.05. The firm’s 50-day moving average is $27.15 and its 200-day moving average is $25.49.

Claritev (NYSE:CTEV) last announced its quarterly earnings results on Monday, November 9th. The company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of ($3.68) by $5.45. The business had revenue of $268.31 million for the quarter. Sell-side analysts predict that Claritev will post -15.13 EPS for the current fiscal year.

Insider Activity at Claritev

In related news, major shareholder Ares Management Llc bought 50,000 shares of Claritev stock in a transaction that occurred on Friday, October 23rd. The stock was acquired at an average price of $23.53 per share, with a total value of $1,176,500.00. Following the acquisition, the insider owned 1,913,105 shares of the company’s stock, valued at approximately $45,015,360.65. This represents a 2.68% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tiffani Misencik sold 8,850 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $40.07, for a total transaction of $354,619.50. Following the completion of the transaction, the senior vice president owned 123,723 shares in the company, valued at approximately $4,957,580.61. This trade represents a 6.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders purchased 77,284 shares of company stock valued at $1,927,655 and sold 23,687 shares valued at $769,078. 7.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Claritev

Several hedge funds have recently bought and sold shares of CTEV. Public Investment Fund bought a new stake in shares of Claritev during the second quarter worth approximately $43,703,438. Bank of America Corp DE grew its position in shares of Claritev by 146.6% in the first quarter. Bank of America Corp DE now owns 97,795 shares of the company’s stock valued at $1,598,000 after purchasing an additional 58,133 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of Claritev during the second quarter worth approximately $245,000. Integrated Wealth Concepts LLC bought a new position in shares of Claritev during the second quarter worth approximately $44,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Claritev during the first quarter worth approximately $38,000. 87.15% of the stock is currently 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.