Claritev (NYSE:CTEV) Given Consensus Rating of “Moderate Buy” by Analysts

Claritev (NYSE:CTEV) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $33.6667.

A number of brokerages have recently issued reports on CTEV. Wall Street Zen downgraded shares of Claritev from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Claritev in a report on Wednesday, June 24th. Piper Sandler set a $61.00 price objective on shares of Claritev in a research report on Wednesday, June 3rd. Canaccord Genuity Group initiated coverage on shares of Claritev in a report on Friday, May 29th. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Wells Fargo & Company cut their target price on shares of Claritev from $30.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday, March 19th.

Hedge Funds Weigh In On Claritev

A number of institutional investors and hedge funds have recently modified their holdings of CTEV. Arini Captial Management Ltd purchased a new stake in Claritev during the fourth quarter valued at $64,291,000. Public Investment Fund purchased a new position in Claritev in the third quarter worth about $68,009,000. Beach Point Capital Management LP boosted its position in Claritev by 77.4% in the fourth quarter. Beach Point Capital Management LP now owns 755,002 shares of the company’s stock worth $32,276,000 after purchasing an additional 329,424 shares during the last quarter. Vanguard Group Inc. purchased a new position in Claritev in the third quarter worth about $27,483,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Claritev by 17.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 262,318 shares of the company’s stock valued at $11,214,000 after purchasing an additional 39,845 shares during the period. 87.15% of the stock is currently owned by hedge funds and other institutional investors.

Claritev Stock Performance

NYSE CTEV opened at $28.20 on Wednesday. Claritev has a one year low of $11.50 and a one year high of $74.07. The stock has a 50-day moving average of $27.85 and a 200 day moving average of $24.89. The company has a market capitalization of $480.81 million, a price-to-earnings ratio of -1.63 and a beta of 0.69.

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.