Claritev (NYSE:CTEV) Upgraded at Barclays

Key Points

• Barclays upgraded Claritev (CTEV) to a "strong-buy", and MarketBeat shows a consensus of "Moderate Buy" with an average target price of $27.25 amid mixed analyst revisions.
• Shares opened at $23.84 with a market capitalization of about $394.6 million and a negative P/E; the stock trades in a 52‑week range of $12.04 to $74.07 and has 50‑ and 200‑day SMAs of $17.92 and $34.40, respectively.
• Company insiders (including the EVP and CEO) made recent purchases totaling 61,680 shares in the last 90 days and now own 7.40% of the stock, while institutional investors hold about 87.15% of shares outstanding.

Claritev (NYSE:CTEV - Get Free Report) was upgraded by equities researchers at Barclays to a "strong-buy" rating in a research note issued on Friday,Zacks.com reports.

A number of other analysts also recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Claritev from $30.00 to $22.00 and set an "equal weight" rating for the company in a research report on Thursday, March 19th. UBS Group reissued a "buy" rating on shares of Claritev in a research report on Tuesday, February 24th. Citigroup decreased their target price on shares of Claritev from $63.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, February 25th. Wall Street Zen downgraded shares of Claritev from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Guggenheim reaffirmed a "buy" rating on shares of Claritev in a research report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $27.25.

Claritev Stock Performance

NYSE:CTEV opened at $23.84 on Friday. The company has a market capitalization of $394.55 million, a PE ratio of -1.38 and a beta of 0.53. The company has a 50 day simple moving average of $17.92 and a two-hundred day simple moving average of $34.40. Claritev has a fifty-two week low of $12.04 and a fifty-two week high of $74.07.

Insider Activity at Claritev

In related news, EVP Michael Kim acquired 15,000 shares of Claritev stock in a transaction dated Thursday, March 12th. The stock was bought 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 represents a 8.94% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Travis Dalton acquired 15,380 shares of Claritev stock in a transaction dated Friday, February 27th. The shares were bought at an average cost of $13.00 per share, with a total value of $199,940.00. Following the transaction, the chief executive officer owned 24,952 shares in the company, valued at approximately $324,376. This trade represents a 160.68% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 61,680 shares of company stock valued at $899,437. Insiders own 7.40% of the company's stock.

Institutional Trading of Claritev

Several large investors have recently modified their holdings of the stock. Rhumbline Advisers bought a new position in shares of Claritev in the 3rd quarter worth $567,000. JPMorgan Chase & Co. bought a new position in shares of Claritev in the 3rd quarter worth $1,245,000. Vanguard Group Inc. bought a new position in shares of Claritev in the 3rd quarter worth $27,483,000. Citigroup Inc. bought a new position in shares of Claritev in the 3rd quarter worth $2,025,000. Finally, Ameritas Investment Partners Inc. bought a new position in shares of Claritev in the 3rd quarter worth $42,000. Institutional investors and hedge funds 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.

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