Claritev (NYSE:CTEV) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Claritev (NYSE:CTEV) has been given an average rating of “Moderate Buy” by the nine ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $44.83.

Several research firms recently weighed in on CTEV. Weiss Ratings restated a “sell (d-)” rating on shares of Claritev in a research report on Monday. Barclays reiterated an “overweight” rating and issued a $40.00 target price (up from $28.00) on shares of Claritev in a research note on Thursday, August 20th. Zacks Research raised shares of Claritev from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Wells Fargo & Company lifted their price target on shares of Claritev from $22.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 12th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $73.00 price objective on shares of Claritev in a research note on Wednesday, August 12th.

Insider Transactions at Claritev

In other news, SVP Tiffani Misencik sold 8,850 shares of the stock in a transaction 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 completion of the transaction, the senior vice president owned 123,723 shares in the company, valued at approximately $4,957,580.61. This represents a 6.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Travis Dalton purchased 1,950 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were purchased at an average price of $38.48 per share, with a total value of $75,036.00. Following the purchase, the chief executive officer directly owned 52,322 shares in the company, valued at $2,013,350.56. This trade represents a 3.87% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders sold 26,306 shares of company stock valued at $919,372. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Claritev

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTEV. Engineers Gate Manager LP bought a new stake in shares of Claritev in the second quarter valued at approximately $245,000. Integrated Wealth Concepts LLC bought a new position in Claritev in the 2nd quarter worth approximately $44,000. Public Investment Fund bought a new position in Claritev in the 2nd quarter worth approximately $43,703,438. FAS Wealth Partners Inc. grew its stake in Claritev by 49.5% in the 1st quarter. FAS Wealth Partners Inc. now owns 46,477 shares of the company’s stock valued at $759,000 after buying an additional 15,380 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Claritev by 146.6% in the 1st quarter. Bank of America Corp DE now owns 97,795 shares of the company’s stock valued at $1,598,000 after buying an additional 58,133 shares in the last quarter. Institutional investors own 87.15% of the company’s stock.

Claritev Trading Down 0.9%

Shares of Claritev stock opened at $23.15 on Monday. The business’s fifty day simple moving average is $32.19 and its 200 day simple moving average is $26.78. The firm has a market capitalization of $392.39 million, a P/E ratio of -1.36 and a beta of 0.88. Claritev has a 12 month low of $11.50 and a 12 month high of $73.68.

Claritev (NYSE:CTEV) last announced its quarterly earnings data on Friday, August 7th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.10) by $5.51. The business had revenue of $257.48 million during the quarter. Analysts predict that Claritev will post -15.13 EPS for the current fiscal year.

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.