Douglas Michael Garis Sells 9,025 Shares of Claritev (NYSE:CTEV) Stock

Key Points

• Claritev CFO Douglas Garis sold 9,025 shares at an average price of $30.59, totaling $276,074.75, under a pre-arranged Rule 10b5-1 trading plan. He retained 185,416 shares valued at approximately $5.67 million.
• Claritev shares fell 6.8% to $29.48, while the company recently reported quarterly EPS of $1.41, beating the consensus estimate by $5.51 on revenue of $257.48 million.
• Analysts maintain a generally positive outlook, with six Buy ratings, two Holds and one Sell, producing a consensus “Moderate Buy” rating and an average price target of $44.83.

Claritev (NYSE:CTEV - Get Free Report) CFO Douglas Garis sold 9,025 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $30.59, for a total value of $276,074.75. Following the sale, the chief financial officer directly owned 185,416 shares of the company's stock, valued at $5,671,875.44. The trade was a 4.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Claritev Trading Down 6.8%

Shares of CTEV traded down $2.14 during trading hours on Tuesday, reaching $29.48. The company had a trading volume of 163,616 shares, compared to its average volume of 160,320. Claritev has a 12-month low of $11.50 and a 12-month high of $73.68. The company has a market capitalization of $499.69 million, a price-to-earnings ratio of -1.73 and a beta of 0.88. The firm has a 50 day simple moving average of $32.54 and a 200-day simple moving average of $26.63.

Claritev (NYSE:CTEV - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.10) by $5.51. The business had revenue of $257.48 million during the quarter. Sell-side analysts forecast that Claritev will post -15.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CTEV. Wall Street Zen upgraded Claritev from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Claritev in a research note on Wednesday, June 24th. Canaccord Genuity Group increased their price objective on shares of Claritev from $37.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Barclays reissued an "overweight" rating and issued a $40.00 target price (up from $28.00) on shares of Claritev in a research note on Thursday, August 20th. Finally, Citigroup reissued a "buy" rating and issued a $45.00 price objective (up from $40.00) on shares of Claritev in a research report on Monday, August 10th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $44.83.

Hedge Funds Weigh In On Claritev

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in shares of Claritev by 2.5% during the 1st 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 in the last quarter. RBF Capital LLC grew its stake in Claritev by 0.8% during the first quarter. RBF Capital LLC now owns 135,314 shares of the company's stock worth $2,211,000 after buying an additional 1,127 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Claritev during the second quarter worth approximately $44,000. State of Wyoming raised its stake in shares of Claritev by 239.2% in the first 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. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Claritev in the 1st quarter worth approximately $38,000. Institutional investors own 87.15% of the company's stock.

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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