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

Key Points

• Wells Fargo cut Claritev's (CTEV) price target from $30.00 to $22.00 and kept an "equal weight" rating, with the new target implying about a 34.97% upside from the stock's current price.
• Analyst opinions are mixed: Citigroup slashed its target from $63.00 to $21.00, while overall there are three Buys, one Hold and one Sell, leaving an average rating of Hold and an average target price of $27.00.
• Company insiders have been buying recently — including EVP Michael Kim and CEO Travis Dalton — with insiders acquiring 61,680 shares in the last 90 days and now owning about 8.0% of the company.

Claritev (NYSE:CTEV - Get Free Report) had its target price dropped by analysts at Wells Fargo & Company from $30.00 to $22.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 34.97% from the company's current price.

A number of other research analysts also recently issued reports on the company. Citigroup reduced 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. Guggenheim reiterated a "buy" rating on shares of Claritev in a report on Tuesday, February 24th. UBS Group reiterated a "buy" rating on shares of Claritev in a research report on Tuesday, February 24th. Finally, Weiss Ratings restated 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 given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $27.00.

Claritev Trading Up 0.1%

Shares of CTEV stock traded up $0.02 during mid-day trading on Thursday, reaching $16.30. The stock had a trading volume of 11,771 shares, compared to its average volume of 221,706. The firm has a market capitalization of $269.11 million, a PE ratio of -0.94 and a beta of 0.60. The stock's 50-day moving average price is $23.07 and its two-hundred day moving average price is $41.98. Claritev has a 52-week low of $12.04 and a 52-week high of $74.07.

Insider Transactions at Claritev

In related news, EVP Michael Kim purchased 15,000 shares of the stock in a transaction dated Thursday, March 12th. The stock was purchased at an average price of $16.50 per share, with a total value of $247,500.00. Following the transaction, the executive vice president directly owned 182,878 shares in the company, valued at $3,017,487. This trade represents a 8.94% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Travis Dalton purchased 15,380 shares of the company's stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average price of $13.00 per share, for a total transaction of $199,940.00. Following the purchase, the chief executive officer owned 24,952 shares in the company, valued at $324,376. This represents a 160.68% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 61,680 shares of company stock worth $899,437. Corporate insiders own 8.00% of the company's stock.

Institutional Trading of Claritev

A number of institutional investors and hedge funds have recently bought and sold shares of the company. State of Wyoming bought a new stake in shares of Claritev in the fourth quarter worth approximately $25,000. Ameritas Investment Partners Inc. purchased a new stake in Claritev in the third quarter worth approximately $42,000. Legal & General Group Plc purchased a new stake in Claritev in the third quarter worth approximately $45,000. Invesco Ltd. grew its position in Claritev by 4.8% in the 4th quarter. Invesco Ltd. now owns 22,802 shares of the company's stock worth $975,000 after purchasing an additional 1,044 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in Claritev during the 4th quarter valued at $45,000. 87.15% of the stock is currently owned by 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.

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