Claritev (NYSE:CTEV) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Claritev, with two sell, one hold and five buy recommendations. The average 12-month price target is $34.50.
• Claritev shares opened at $22.78 after declining 3.4%; the stock has traded between $11.50 and $74.07 over the past year. Recent analyst actions were mixed, including downgrades from Zacks Research and Wall Street Zen, alongside bullish coverage from Barclays and Citigroup.
• Institutional investors own 87.15% of Claritev’s stock. Recent activity included new positions from Arini Capital Management, the Public Investment Fund and Vanguard, while Beach Point Capital increased its stake by 77.4%.

Claritev (NYSE:CTEV - Get Free Report) has been given a consensus rating of "Hold" by the eight ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $34.50.

A number of brokerages have recently issued reports on CTEV. Zacks Research cut Claritev from a "hold" rating to a "strong sell" rating in a research note on Friday, July 17th. Wall Street Zen cut shares of Claritev from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. Piper Sandler set a $61.00 target price on shares of Claritev in a report on Wednesday, June 3rd. Barclays started coverage on shares of Claritev in a research report on Friday, April 24th. They set an "overweight" rating and a $28.00 price target on the stock. Finally, Citigroup reiterated a "buy" rating on shares of Claritev in a research note on Wednesday, May 13th.

Claritev Stock Down 3.4%

CTEV stock opened at $22.78 on Friday. The business has a 50 day moving average price of $28.50 and a two-hundred day moving average price of $23.93. The company has a market cap of $388.40 million, a price-to-earnings ratio of -1.31 and a beta of 0.69. Claritev has a twelve month low of $11.50 and a twelve month high of $74.07.

Institutional Investors Weigh In On Claritev

Institutional investors and hedge funds have recently modified their holdings of the company. Arini Captial Management Ltd bought a new position in Claritev during the fourth quarter worth $64,291,000. Public Investment Fund acquired a new position in shares of Claritev in the third quarter valued at $68,009,000. Vanguard Group Inc. bought a new position in shares of Claritev in the third quarter valued at about $27,483,000. Beach Point Capital Management LP raised its position in shares of Claritev by 77.4% in the fourth quarter. Beach Point Capital Management LP now owns 755,002 shares of the company's stock valued at $32,276,000 after purchasing an additional 329,424 shares during the period. Finally, Nomura Holdings Inc. acquired a new stake in shares of Claritev during the 3rd quarter worth about $7,817,000. 87.15% of the stock is 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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