Claritev (NYSE:CTEV) Given New $21.00 Price Target at Citigroup

Claritev (NYSE:CTEV) had its price objective decreased by Citigroup from $63.00 to $21.00 in a research note published on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other research firms have also recently commented on CTEV. Guggenheim restated a “buy” rating on shares of Claritev in a report on Tuesday. Wells Fargo & Company set a $30.00 target price on shares of Claritev and gave the stock an “equal weight” rating in a research note on Tuesday. UBS Group reaffirmed a “buy” rating on shares of Claritev in a research report on Tuesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $29.67.

Claritev Stock Performance

CTEV opened at $14.74 on Wednesday. The stock’s 50 day moving average price is $30.03 and its 200-day moving average price is $47.45. Claritev has a one year low of $12.04 and a one year high of $74.07. The stock has a market cap of $243.36 million, a price-to-earnings ratio of -0.85 and a beta of 0.50.

Claritev (NYSE:CTEV) last posted its quarterly earnings data on Monday, February 23rd. The company reported ($4.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.96) by ($0.92). The business had revenue of $246.55 million for the quarter. Claritev had a negative net margin of 29.45% and a negative return on equity of 245.89%. As a group, analysts predict that Claritev will post -6.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CTEV. State of Wyoming purchased a new stake in shares of Claritev during the 4th quarter worth $25,000. Ameritas Investment Partners Inc. bought a new position in Claritev in the third quarter worth about $42,000. Legal & General Group Plc bought a new position in Claritev in the third quarter worth about $45,000. Los Angeles Capital Management LLC purchased a new stake in shares of Claritev during the fourth quarter valued at about $45,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Claritev in the 3rd quarter valued at about $79,000. 87.15% of the stock is currently owned by hedge funds and other institutional investors.

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.