Claritev (NYSE:CTEV) Trading Down 0.8% – Here’s What Happened

Shares of Claritev (NYSE:CTEV) fell 0.8% during mid-day trading on Thursday . The stock traded as low as $22.90 and last traded at $23.38. 92,225 shares were traded during trading, a decline of 33% from the average session volume of 137,849 shares. The stock had previously closed at $23.56.

Analysts Set New Price Targets

A number of analysts have weighed in on CTEV shares. Citigroup lowered their target price on Claritev from $80.00 to $63.00 and set a “buy” rating for the company in a report on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Claritev in a research report on Monday, December 29th. Guggenheim assumed coverage on Claritev in a research note on Monday, January 12th. They set a “buy” rating and a $43.00 price objective for the company. Finally, Wells Fargo & Company set a $33.00 target price on Claritev and gave the company an “equal weight” rating in a research note on Thursday, January 8th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.33.

Claritev Stock Down 0.8%

The business has a 50-day moving average price of $31.59 and a 200-day moving average price of $48.15. The firm has a market capitalization of $386.00 million, a price-to-earnings ratio of -1.12 and a beta of 0.50.

Institutional Investors Weigh In On Claritev

A number of large investors have recently modified their holdings of CTEV. Rhumbline Advisers acquired a new position in shares of Claritev during the third quarter valued at about $567,000. JPMorgan Chase & Co. purchased a new stake in Claritev during the 3rd quarter worth approximately $1,245,000. Vanguard Group Inc. acquired a new position in Claritev during the 3rd quarter valued at approximately $27,483,000. Citigroup Inc. purchased a new position in shares of Claritev in the third quarter worth $2,025,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Claritev in the third quarter worth $42,000. Hedge funds and other institutional investors own 87.15% of the company’s stock.

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.