Claritev (NYSE:CTEV) Trading Up 9.7% – Still a Buy?

Claritev (NYSE:CTEV)’s share price rose 9.7% during trading on Thursday . The company traded as high as $33.46 and last traded at $33.46. 60,726 shares changed hands during trading, a decline of 66% from the average session volume of 177,048 shares. The stock had previously closed at $30.49.

Analysts Set New Price Targets

A number of research firms have issued reports on CTEV. Wall Street Zen downgraded Claritev from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Wells Fargo & Company lowered their target price 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. Barclays initiated coverage on shares of Claritev in a research report on Friday, April 24th. They issued an “overweight” rating and a $28.00 price target on the stock. Piper Sandler set a $61.00 price target on shares of Claritev in a research note on Wednesday, June 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a research report on Friday, March 27th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned 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 $33.67.

Claritev Trading Up 9.7%

The firm has a market capitalization of $570.32 million, a P/E ratio of -1.93 and a beta of 0.77. The firm has a 50 day moving average price of $24.94 and a 200-day moving average price of $25.48.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in Claritev by 2.5% during the first quarter. Bank of New York Mellon Corp now owns 18,111 shares of the company’s stock valued at $296,000 after acquiring an additional 447 shares during the last quarter. State of Wyoming purchased a new position in shares of Claritev during the 4th quarter worth about $25,000. Ameritas Investment Partners Inc. purchased a new position in shares of Claritev during the 3rd quarter worth about $42,000. Legal & General Group Plc bought a new position in Claritev during the 3rd quarter valued at about $45,000. Finally, Invesco Ltd. raised its position in Claritev by 4.8% in the 4th quarter. Invesco Ltd. now owns 22,802 shares of the company’s stock worth $975,000 after purchasing an additional 1,044 shares during the period. 87.15% of the stock is owned by hedge funds and other institutional investors.

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.