Claritev (NYSE:CTEV) Trading 3.2% Higher – Time to Buy?

Claritev (NYSE:CTEV) shares were up 3.2% on Monday . The stock traded as high as $43.54 and last traded at $43.38. Approximately 80,198 shares traded hands during trading, a decline of 43% from the average daily volume of 141,292 shares. The stock had previously closed at $42.03.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Citigroup boosted their price objective on shares of Claritev from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Claritev in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $80.00.

Claritev Price Performance

The stock has a market capitalization of $712.61 million, a P/E ratio of -2.06 and a beta of 0.52. The company has a debt-to-equity ratio of 310.26, a current ratio of 1.21 and a quick ratio of 1.21. The company’s 50-day simple moving average is $50.43 and its 200-day simple moving average is $51.97.

Insider Activity

In other Claritev news, EVP Michael Kim acquired 9,600 shares of the company’s stock in a transaction on Monday, November 17th. The shares were purchased at an average price of $38.25 per share, for a total transaction of $367,200.00. Following the completion of the purchase, the executive vice president directly owned 105,529 shares of the company’s stock, valued at approximately $4,036,484.25. This represents a 10.01% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William B. Mintz bought 916 shares of Claritev stock in a transaction dated Monday, November 17th. The shares were acquired at an average price of $38.00 per share, with a total value of $34,808.00. Following the completion of the purchase, the senior vice president directly owned 65,325 shares in the company, valued at $2,482,350. This trade represents a 1.42% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 17,347 shares of company stock valued at $710,938 in the last 90 days. 8.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Claritev

A number of large investors have recently added to or reduced their stakes in CTEV. Ameritas Investment Partners Inc. acquired a new position in shares of Claritev in the third quarter valued at $42,000. Legal & General Group Plc bought a new stake in shares of Claritev during the 3rd quarter worth about $45,000. BNP Paribas Financial Markets acquired a new position in Claritev in the 3rd quarter valued at about $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Claritev in the 3rd quarter valued at about $187,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Claritev during the third quarter worth approximately $322,000. 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.