Claritev (NYSE:CTEV) Receives $27.25 Consensus PT from Analysts

Claritev (NYSE:CTEV) has been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $27.25.

Several research analysts have recently weighed in on CTEV shares. Guggenheim reaffirmed a “buy” rating on shares of Claritev in a research report on Tuesday, February 24th. Wells Fargo & Company reduced their price objective on Claritev from $30.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday, March 19th. Citigroup reissued a “buy” rating on shares of Claritev in a research report on Wednesday, May 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Claritev in a research report on Friday, March 27th. Finally, Barclays assumed coverage on Claritev in a research report on Friday, April 24th. They set an “overweight” rating and a $28.00 price target for the company.

Insider Activity at Claritev

In related news, CEO Travis Dalton purchased 15,380 shares of Claritev stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average cost of $13.00 per share, with a total value of $199,940.00. Following the completion of the transaction, the chief executive officer owned 24,952 shares of the company’s stock, valued at approximately $324,376. This trade represents a 160.68% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Kim purchased 30,000 shares of Claritev stock in a transaction that occurred on Friday, February 27th. The shares were bought at an average cost of $14.30 per share, with a total value of $429,000.00. Following the completion of the transaction, the executive vice president directly owned 137,973 shares of the company’s stock, valued at approximately $1,973,013.90. The trade was a 27.78% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 61,680 shares of company stock valued at $899,437 over the last three months. Insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

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

Claritev Price Performance

CTEV stock opened at $21.42 on Tuesday. The stock has a market capitalization of $365.21 million, a P/E ratio of -1.24 and a beta of 0.76. The business has a 50-day moving average of $19.88 and a 200-day moving average of $28.95. Claritev has a fifty-two week low of $11.50 and a fifty-two week high of $74.07.

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.