Claritev (NYSE:CTEV) Price Target Cut to $63.00 by Analysts at Citigroup

Claritev (NYSE:CTEV) had its price target cut by Citigroup from $80.00 to $63.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

CTEV has been the topic of a number of other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Claritev in a report on Monday, December 29th. Wells Fargo & Company set a $33.00 target price on shares of Claritev and gave the stock an “equal weight” rating in a research report on Thursday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $48.00.

Claritev Trading Down 6.5%

Shares of CTEV opened at $29.18 on Friday. Claritev has a twelve month low of $11.70 and a twelve month high of $74.07. The firm has a market capitalization of $482.23 million, a P/E ratio of -1.40 and a beta of 0.51. The stock’s fifty day simple moving average is $44.45 and its 200 day simple moving average is $51.57.

Insider Buying and Selling

In related news, SVP William B. Mintz bought 916 shares of the stock in a transaction dated Monday, November 17th. The stock was acquired at an average price of $38.00 per share, for a total transaction of $34,808.00. Following the completion of the purchase, the senior vice president owned 65,325 shares in the company, valued at $2,482,350. This represents a 1.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Travis Dalton purchased 5,290 shares of Claritev stock in a transaction that occurred on Thursday, November 20th. The shares were bought at an average cost of $47.23 per share, for a total transaction of $249,846.70. Following the completion of the transaction, the chief executive officer directly owned 9,572 shares in the company, valued at $452,085.56. This represents a 123.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 17,347 shares of company stock worth $710,938 in the last ninety days. 8.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CTEV. Ameritas Investment Partners Inc. acquired a new stake in Claritev during the 3rd quarter valued at $42,000. Legal & General Group Plc acquired a new position in Claritev in the 3rd quarter worth $45,000. BNP Paribas Financial Markets purchased a new position in Claritev in the 3rd quarter valued at about $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Claritev during the third quarter valued at about $187,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Claritev during the third quarter worth about $322,000. 87.15% of the stock is currently owned by hedge funds and other institutional investors.

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.