Claritev (NYSE:CTEV) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Moderate Buy consensus from six analysts (4 buy, 1 hold, 1 sell) with an average 1‑year price target of $27; recent analyst moves include Barclays initiating coverage at "overweight" while Citi and Wells Fargo cut their price targets.
• Insider purchases: CEO Travis Dalton bought 15,380 shares at $13 and EVP Michael Kim bought 30,000 shares at $14.30 on Feb 27, with insiders acquiring 61,680 shares in the last 90 days and now owning 7.40% of the company.
• Shares opened at $20.34 with a market cap of $336.6M and a negative PE (-1.18); the stock has a 52‑week range of $12.04–$74.07 and 87.15% of shares are owned by institutional investors (Vanguard holds ~ $27.5M).

Claritev (NYSE:CTEV - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the six ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $27.00.

A number of research analysts recently issued reports on the company. Barclays assumed coverage on Claritev in a report on Friday. They issued an "overweight" rating for the company. UBS Group reaffirmed a "buy" rating on shares of Claritev in a report on Tuesday, February 24th. Guggenheim reaffirmed a "buy" rating on shares of Claritev in a report on Tuesday, February 24th. Wells Fargo & Company cut their price target on Claritev from $30.00 to $22.00 and set an "equal weight" rating for the company in a report on Thursday, March 19th. Finally, Citigroup cut their price target on Claritev from $63.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, February 25th.

Claritev Stock Performance

Shares of NYSE CTEV opened at $20.34 on Friday. The stock has a market cap of $336.63 million, a PE ratio of -1.18 and a beta of 0.53. The business has a fifty day moving average of $17.90 and a two-hundred day moving average of $34.59. Claritev has a 52-week low of $12.04 and a 52-week high of $74.07.

Insider Transactions at Claritev

In other Claritev news, CEO Travis Dalton purchased 15,380 shares of the business's stock in a transaction that occurred on Friday, February 27th. The stock was acquired at an average cost of $13.00 per share, with a total value of $199,940.00. Following the completion of the acquisition, the chief executive officer directly owned 24,952 shares of the company's stock, valued at $324,376. This represents a 160.68% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Kim purchased 30,000 shares of the business's stock in a transaction that occurred on Friday, February 27th. The stock was acquired at an average cost of $14.30 per share, with a total value of $429,000.00. Following the completion of the acquisition, the executive vice president directly owned 137,973 shares of the company's stock, valued at $1,973,013.90. The trade was a 27.78% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 61,680 shares of company stock valued at $899,437 over the last ninety days. 7.40% of the stock is currently owned by company insiders.

Institutional Trading of Claritev

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTEV. Rhumbline Advisers acquired a new stake in Claritev in the third quarter worth about $567,000. JPMorgan Chase & Co. acquired a new stake in Claritev in the third quarter worth about $1,245,000. Vanguard Group Inc. acquired a new stake in Claritev in the third quarter worth about $27,483,000. Citigroup Inc. acquired a new stake in Claritev in the third quarter worth about $2,025,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in Claritev in the third quarter worth about $42,000. 87.15% of the stock is currently owned by institutional investors and hedge funds.

About Claritev

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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