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

Key Points

• Analysts have a “Moderate Buy” consensus on Claritev, with six buy, two hold, and one sell rating; the average 12-month price target is $44.83.
• Several brokerages recently raised their price targets, including Barclays to $40, Canaccord Genuity to $43, and Citigroup to $45, while Wells Fargo maintained an equal-weight rating with a $30 target.
• Claritev reported quarterly EPS of $1.41, beating the consensus estimate of a $4.10 loss, on revenue of $257.48 million. The stock opened at $37.60, up significantly from its 52-week low of $11.50 but below its $74.07 high.

Shares of Claritev (NYSE:CTEV - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the company, MarketBeat Ratings 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.

A number of brokerages have recently commented on CTEV. Barclays reissued an "overweight" rating and set a $40.00 price objective (up from $28.00) on shares of Claritev in a report on Thursday, August 20th. Wells Fargo & Company boosted their target price on Claritev from $22.00 to $30.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 12th. Canaccord Genuity Group upped their target price on Claritev from $37.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Claritev in a report on Wednesday, June 24th. Finally, Citigroup reissued a "buy" rating and issued a $45.00 price target (up from $40.00) on shares of Claritev in a research report on Monday, August 10th.

Insiders Place Their Bets

In related news, SVP Tiffani Misencik sold 8,850 shares of the firm's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $40.07, for a total value of $354,619.50. Following the transaction, the senior vice president directly owned 123,723 shares in the company, valued at approximately $4,957,580.61. This trade represents a 6.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP William B. Mintz sold 8,431 shares of the business's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $34.24, for a total transaction of $288,677.44. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 7.40% of the company's stock.

Hedge Funds Weigh In On Claritev

Large investors have recently made changes to their positions in the business. Arini Captial Management Ltd bought a new stake in Claritev in the 4th quarter valued at $64,291,000. Public Investment Fund acquired a new stake in Claritev in the 2nd quarter worth $43,703,438,000. Vanguard Group Inc. bought a new position in shares of Claritev during the 3rd quarter worth about $27,483,000. Beach Point Capital Management LP increased its holdings in shares of Claritev by 77.4% during the 4th quarter. Beach Point Capital Management LP now owns 755,002 shares of the company's stock worth $32,276,000 after purchasing an additional 329,424 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in shares of Claritev during the third quarter valued at about $7,817,000. Institutional investors and hedge funds own 87.15% of the company's stock.

Claritev Trading Down 0.1%

Claritev stock opened at $37.60 on Thursday. Claritev has a 1-year low of $11.50 and a 1-year high of $74.07. The firm's fifty day simple moving average is $30.84 and its 200-day simple moving average is $24.55. The company has a market capitalization of $637.32 million, a P/E ratio of -2.21 and a beta of 0.74.

Claritev (NYSE:CTEV - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($4.10) by $5.51. The business had revenue of $257.48 million during the quarter. On average, equities research analysts predict that Claritev will post -15.13 earnings per share for the current year.

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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