Claritev (NYSE:CTEV) Stock Price Up 7.7% Following Analyst Upgrade

Claritev (NYSE:CTEV)’s stock price rose 7.7% during mid-day trading on Thursday after Wells Fargo & Company raised their price target on the stock from $22.00 to $30.00. Wells Fargo & Company currently has an equal weight rating on the stock. Claritev traded as high as $38.05 and last traded at $38.04. Approximately 42,764 shares were traded during trading, a decline of 74% from the average session volume of 164,040 shares. The stock had previously closed at $35.32.

A number of other equities research analysts also recently weighed in on CTEV. Wall Street Zen upgraded shares of Claritev from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Citigroup restated a “buy” rating and issued a $45.00 price objective (up from $40.00) on shares of Claritev in a research note on Monday. Zacks Research downgraded shares of Claritev from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a research report on Wednesday, June 24th. Finally, Barclays initiated coverage on shares of Claritev in a research note on Friday, April 24th. They issued an “overweight” rating and a $28.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $42.83.

Insider Transactions at Claritev

In other Claritev news, SVP William B. Mintz sold 8,431 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $34.24, for a total transaction of $288,677.44. Following the transaction, the senior vice president owned 71,195 shares of the company’s stock, valued at approximately $2,437,716.80. This represents a 10.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.40% of the company’s stock.

Institutional Trading of Claritev

A number of large investors have recently bought and sold shares of CTEV. FAS Wealth Partners Inc. increased its holdings in Claritev by 49.5% during the 1st quarter. FAS Wealth Partners Inc. now owns 46,477 shares of the company’s stock worth $759,000 after purchasing an additional 15,380 shares in the last quarter. Bank of America Corp DE increased its position in shares of Claritev by 146.6% during the 1st quarter. Bank of America Corp DE now owns 97,795 shares of the company’s stock worth $1,598,000 after purchasing an additional 58,133 shares during the last quarter. RBF Capital LLC increased its holdings in Claritev by 0.8% during the first quarter. RBF Capital LLC now owns 135,314 shares of the company’s stock worth $2,211,000 after buying an additional 1,127 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Claritev during the 1st quarter worth about $38,000. Finally, State of Wyoming raised its stake in Claritev by 239.2% in the first quarter. State of Wyoming now owns 2,018 shares of the company’s stock valued at $33,000 after buying an additional 1,423 shares during the period. 87.15% of the stock is owned by institutional investors.

Claritev Trading Up 7.7%

The firm has a market cap of $648.58 million, a P/E ratio of -2.24 and a beta of 0.74. The business has a 50 day moving average of $29.32 and a two-hundred day moving average of $23.86.

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.