Shares of Claritev (NYSE:CTEV - Get Free Report) rose 41.9% during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $38.99 and last traded at $38.08. Approximately 47,731 shares traded hands during trading, a decline of 71% from the average session volume of 163,256 shares. The stock had previously closed at $26.84.
The company reported ($3.49) EPS for the quarter, beating analysts' consensus estimates of ($4.10) by $0.61. The business had revenue of $257.48 million during the quarter.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. Citigroup reissued a "buy" rating on shares of Claritev in a report on Wednesday, May 13th. Piper Sandler set a $61.00 target price on shares of Claritev in a research report on Wednesday, June 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Claritev in a research note on Wednesday, June 24th. Barclays began coverage on shares of Claritev in a research report on Friday, April 24th. They issued an "overweight" rating and a $28.00 price target for the company. Finally, Wall Street Zen downgraded shares of Claritev from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $34.50.
Read Our Latest Report on Claritev
Institutional Trading of Claritev
Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in shares of Claritev by 2.5% during the first quarter. Bank of New York Mellon Corp now owns 18,111 shares of the company's stock worth $296,000 after purchasing an additional 447 shares during the last quarter. State of Wyoming acquired a new position in Claritev in the 4th quarter valued at $25,000. Ameritas Investment Partners Inc. purchased a new position in Claritev during the 3rd quarter worth $42,000. Legal & General Group Plc acquired a new stake in shares of Claritev in the 3rd quarter worth $45,000. Finally, Invesco Ltd. lifted its stake in shares of Claritev by 4.8% in the 4th quarter. Invesco Ltd. now owns 22,802 shares of the company's stock worth $975,000 after acquiring an additional 1,044 shares during the period. Institutional investors and hedge funds own 87.15% of the company's stock.
Claritev Stock Up 26.3%
The firm has a market cap of $578.17 million, a PE ratio of -1.96 and a beta of 0.74. The company's fifty day moving average price is $28.75 and its two-hundred day moving average price is $23.74.
About Claritev
(
Get Free Report)
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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