Claritev (NYSE:CTEV) Price Target Lowered to $22.00 at Wells Fargo & Company

Claritev (NYSE:CTEV) had its price objective trimmed by Wells Fargo & Company from $30.00 to $22.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities analysts also recently issued reports on the stock. Guggenheim reaffirmed a “buy” rating on shares of Claritev in a report on Tuesday, February 24th. UBS Group restated a “buy” rating on shares of Claritev in a research report on Tuesday, February 24th. Citigroup decreased their price target on shares of Claritev from $63.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $27.00.

Claritev Stock Performance

Claritev stock opened at $15.32 on Thursday. The company’s fifty day moving average price is $22.75 and its 200 day moving average price is $41.79. Claritev has a 1 year low of $12.04 and a 1 year high of $74.07. The stock has a market capitalization of $252.93 million, a P/E ratio of -0.89 and a beta of 0.60.

Insider Transactions at Claritev

In other Claritev news, EVP Michael Kim acquired 15,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was bought at an average price of $16.50 per share, with a total value of $247,500.00. Following the purchase, the executive vice president owned 182,878 shares in the company, valued at approximately $3,017,487. The trade was a 8.94% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Travis Dalton acquired 15,380 shares of the business’s stock in a transaction on Friday, February 27th. The stock was acquired at an average price of $13.00 per share, with a total value of $199,940.00. Following the acquisition, the chief executive officer owned 24,952 shares in the company, valued at $324,376. The trade was a 160.68% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 61,680 shares of company stock valued at $899,437 over the last quarter. Company insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CTEV. H&F Corporate Investors VIII Ltd. purchased a new stake in shares of Claritev in the third quarter valued at approximately $285,988,000. AustralianSuper Pty Ltd purchased a new position in Claritev during the third quarter worth approximately $169,605,000. Arini Captial Management Ltd purchased a new position in Claritev during the fourth quarter worth approximately $64,291,000. Public Investment Fund acquired a new position in Claritev during the third quarter worth $68,009,000. Finally, Beach Point Capital Management LP grew its holdings in Claritev by 77.4% in the 4th quarter. Beach Point Capital Management LP now owns 755,002 shares of the company’s stock valued at $32,276,000 after buying an additional 329,424 shares in the last quarter. 87.15% of the stock is currently owned by institutional investors and hedge funds.

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.