Claritev (NYSE:CTEV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Claritev (NYSE:CTEV) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $44.8333.

A number of research firms have weighed in on CTEV. Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a research note on Wednesday, June 24th. Zacks Research upgraded shares of Claritev from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Barclays reaffirmed an “overweight” rating and set a $40.00 price objective (up from $28.00) on shares of Claritev in a report on Thursday, August 20th. Citigroup reiterated a “buy” rating and set a $45.00 target price (up from $40.00) on shares of Claritev in a research report on Monday, August 10th. Finally, Canaccord Genuity Group upped their target price on shares of Claritev from $37.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 10th.

Insider Buying and Selling

In other Claritev news, SVP William B. Mintz sold 8,431 shares of Claritev stock in a transaction that occurred 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 sale, the senior vice president directly owned 71,195 shares of the company’s stock, valued at approximately $2,437,716.80. The trade was a 10.59% decrease 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 link. Also, SVP Tiffani Misencik sold 8,850 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $40.07, for a total value of $354,619.50. Following the completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 7.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CTEV. Bank of New York Mellon Corp raised its holdings in shares of Claritev by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 18,111 shares of the company’s stock valued at $296,000 after buying an additional 447 shares during the last quarter. State of Wyoming bought a new stake in Claritev during the 4th quarter worth about $25,000. Ameritas Investment Partners Inc. bought a new stake in Claritev during the 3rd quarter worth about $42,000. Legal & General Group Plc acquired a new stake in Claritev in the 3rd quarter valued at about $45,000. Finally, Invesco Ltd. raised its stake in shares of Claritev by 4.8% in the fourth quarter. Invesco Ltd. now owns 22,802 shares of the company’s stock worth $975,000 after acquiring an additional 1,044 shares during the last quarter. 87.15% of the stock is owned by institutional investors.

Claritev Trading Down 0.1%

Shares of NYSE:CTEV opened at $37.60 on Thursday. Claritev has a 1-year low of $11.50 and a 1-year high of $74.07. The firm has a market capitalization of $637.32 million, a PE ratio of -2.21 and a beta of 0.74. The business’s 50 day moving average is $30.84 and its 200-day moving average is $24.55.

Claritev (NYSE:CTEV) last released 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 firm had revenue of $257.48 million for the quarter. On average, sell-side analysts predict that Claritev will post -15.13 EPS for the current year.

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.