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

Key Points

• Claritev has a “Moderate Buy” consensus rating from nine analysts, with six buys, two holds and one sell. The average 12-month price target is $44.83, though individual targets range as high as $73.
• Shares opened at $31.03, while the company reported quarterly EPS of $1.41, beating the consensus estimate of a $4.10 loss; revenue totaled $257.48 million.
• Insiders recently sold shares, reducing their holdings, while institutional investors and hedge funds own a substantial 87.15% of Claritev’s stock.

Claritev (NYSE:CTEV - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nine analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $44.8333.

CTEV has been the subject of several analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Claritev in a report on Wednesday, June 24th. Piper Sandler reaffirmed an "overweight" rating and issued a $73.00 price objective on shares of Claritev in a report on Wednesday, August 12th. Canaccord Genuity Group lifted their price objective on shares of Claritev from $37.00 to $43.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Zacks Research upgraded Claritev from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 13th. Finally, Citigroup reaffirmed a "buy" rating and issued a $45.00 price objective (up from $40.00) on shares of Claritev in a report on Monday, August 10th.

Claritev Stock Up 0.7%

Shares of CTEV stock opened at $31.03 on Monday. The business has a 50 day moving average of $32.51 and a two-hundred day moving average of $26.53. Claritev has a 52 week low of $11.50 and a 52 week high of $73.68. The company has a market cap of $525.96 million, a P/E ratio of -1.82 and a beta of 0.88.

Claritev (NYSE:CTEV - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of ($4.10) by $5.51. The company had revenue of $257.48 million for the quarter. Analysts expect that Claritev will post -15.13 EPS for the current fiscal year.

Insider Activity

In other Claritev news, SVP William B. Mintz sold 8,431 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $34.24, for a total value of $288,677.44. Following the completion of the sale, the senior vice president directly owned 71,195 shares of the company's stock, valued at approximately $2,437,716.80. This represents a 10.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Tiffani Misencik sold 8,850 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $40.07, for a total transaction of $354,619.50. Following the transaction, the senior vice president owned 123,723 shares of the company's stock, valued at approximately $4,957,580.61. This trade represents a 6.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 7.40% of the company's stock.

Institutional Trading of Claritev

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTEV. Integrated Wealth Concepts LLC acquired a new position in Claritev in the second quarter worth approximately $44,000. State of Wyoming lifted its position in shares of Claritev by 239.2% during the 1st quarter. State of Wyoming now owns 2,018 shares of the company's stock valued at $33,000 after acquiring an additional 1,423 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Claritev during the 1st quarter worth $38,000. AXQ Capital LP bought a new stake in shares of Claritev during the 4th quarter worth $223,000. Finally, Engineers Gate Manager LP acquired a new position in shares of Claritev in the 2nd quarter worth $245,000. 87.15% of the stock is 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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