Claritev (NYSE:CTEV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Claritev (NYSE:CTEV) has earned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat.com reports. One 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 1-year target price among brokerages that have issued a report on the stock in the last year is $44.8333.

CTEV has been the subject of several research analyst reports. Zacks Research upgraded shares of Claritev from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Wells Fargo & Company boosted their price objective on Claritev from $22.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 12th. Barclays reaffirmed an “overweight” rating and issued a $40.00 target price (up from $28.00) on shares of Claritev in a report on Thursday, August 20th. Wall Street Zen upgraded Claritev from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Citigroup reissued a “buy” rating and set a $45.00 price target (up from $40.00) on shares of Claritev in a research note on Monday, August 10th.

Claritev Trading Up 1.6%

Shares of Claritev stock opened at $39.98 on Thursday. The firm has a market capitalization of $677.66 million, a PE ratio of -2.35 and a beta of 0.88. The firm’s 50 day moving average is $31.81 and its 200 day moving average is $25.14. Claritev has a 1 year low of $11.50 and a 1 year high of $74.07.

Claritev (NYSE:CTEV) last released its quarterly earnings data on Friday, August 7th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.10) by $5.51. The company had revenue of $257.48 million for the quarter. As a group, research analysts anticipate that Claritev will post -15.13 earnings per share for the current year.

Insider Activity at Claritev

In other Claritev news, CEO Travis Dalton bought 4,500 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were acquired at an average cost of $38.81 per share, for a total transaction of $174,645.00. Following the transaction, the chief executive officer directly owned 50,372 shares in the company, valued at approximately $1,954,937.32. This represents a 9.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Tiffani Misencik sold 8,850 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $40.07, for a total transaction of $354,619.50. Following the sale, the senior vice president directly owned 123,723 shares in the company, valued at $4,957,580.61. The trade was a 6.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders acquired a total of 7,325 shares of company stock worth $274,540 in the last quarter. 7.40% of the stock is owned by insiders.

Institutional Trading of Claritev

Several institutional investors have recently modified their holdings of CTEV. State of Wyoming bought a new position in Claritev during the 4th quarter worth $25,000. Ameritas Investment Partners Inc. bought a new stake in shares of Claritev in the 3rd quarter valued at about $42,000. Legal & General Group Plc bought a new stake in shares of Claritev in the 3rd quarter valued at about $45,000. Los Angeles Capital Management LLC bought a new stake in shares of Claritev in the 4th quarter valued at about $45,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Claritev in the third quarter valued at about $79,000. Institutional investors own 87.15% of the company’s stock.

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.