Claritev (NYSE:CTEV) Receives Average Rating of “Hold” from Analysts

Claritev (NYSE:CTEV) has been assigned an average rating of “Hold” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $34.50.

Several equities analysts have recently commented on the company. Piper Sandler set a $61.00 target price on Claritev in a research report on Wednesday, June 3rd. Canaccord Genuity Group lifted their price target on Claritev from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Wall Street Zen downgraded Claritev from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Claritev in a report on Wednesday, June 24th. Finally, Barclays assumed coverage on Claritev in a research report on Friday, April 24th. They set an “overweight” rating and a $28.00 price objective on the stock.

Hedge Funds Weigh In On Claritev

Institutional investors and hedge funds have recently modified their holdings of the business. 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 worth $296,000 after acquiring an additional 447 shares during the period. State of Wyoming bought a new stake in Claritev in the 4th quarter valued at about $25,000. Ameritas Investment Partners Inc. bought a new stake in Claritev in the 3rd quarter valued at about $42,000. Legal & General Group Plc acquired a new position in shares of Claritev during the 3rd quarter worth approximately $45,000. Finally, Invesco Ltd. grew its position in shares of Claritev by 4.8% during 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 in the last quarter. 87.15% of the stock is currently owned by institutional investors and hedge funds.

Claritev Stock Down 3.4%

Shares of CTEV stock opened at $22.78 on Friday. Claritev has a 12-month low of $11.50 and a 12-month high of $74.07. The company has a market capitalization of $388.40 million, a PE ratio of -1.31 and a beta of 0.69. The firm has a 50 day moving average price of $28.50 and a two-hundred day moving average price of $23.93.

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.