Claritev (NYSE:CTEV) Receives $27.00 Consensus PT from Brokerages

Claritev (NYSE:CTEV) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $27.25.

Several brokerages have issued reports on CTEV. Wall Street Zen cut Claritev from a “hold” rating to a “sell” rating in a research note on Saturday. Wells Fargo & Company dropped their price target on Claritev from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 19th. Citigroup cut their price target on Claritev from $63.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Claritev in a research report on Friday, March 27th. Finally, UBS Group restated a “buy” rating on shares of Claritev in a research report on Tuesday, February 24th.

Insider Buying and Selling

In related news, EVP Michael Kim acquired 30,000 shares of Claritev stock in a transaction that occurred on Friday, February 27th. The stock was acquired at an average price of $14.30 per share, for a total transaction of $429,000.00. Following the transaction, the executive vice president directly owned 137,973 shares of the company’s stock, valued at $1,973,013.90. This trade represents a 27.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Travis Dalton acquired 15,380 shares of Claritev stock in a transaction that occurred on Friday, February 27th. The shares were bought at an average price of $13.00 per share, with a total value of $199,940.00. Following the transaction, the chief executive officer directly owned 24,952 shares in the company, valued at approximately $324,376. This trade represents a 160.68% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 61,680 shares of company stock valued at $899,437 in the last 90 days. Insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTEV. State of Wyoming acquired a new position in Claritev during the 4th quarter valued at approximately $25,000. Ameritas Investment Partners Inc. acquired a new position in Claritev during the 3rd quarter valued at approximately $42,000. Legal & General Group Plc bought a new position in Claritev in the 3rd quarter worth approximately $45,000. Los Angeles Capital Management LLC bought a new position in Claritev in the 4th quarter worth approximately $45,000. Finally, BNP Paribas Financial Markets bought a new position in Claritev in the 3rd quarter worth approximately $79,000. Institutional investors and hedge funds own 87.15% of the company’s stock.

Claritev Stock Up 0.1%

Shares of NYSE CTEV opened at $23.84 on Friday. The stock’s 50 day moving average price is $17.92 and its two-hundred day moving average price is $34.13. Claritev has a 52-week low of $12.04 and a 52-week high of $74.07. The stock has a market capitalization of $394.55 million, a P/E ratio of -1.38 and a beta of 0.53.

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.