Claritev (NYSE:CTEV) Shares Down 4.3% - Should You Sell?

Key Points

• Claritev shares fell 4.3% to about $32.11, with trading volume 64% below the average session volume.
• Analyst sentiment remains positive overall: the stock has a “Moderate Buy” consensus rating and an average price target of $44.83, well above its current price.
• Claritev reported quarterly EPS of $1.41, beating consensus estimates by $5.51, though analysts expect a full-year loss of $15.13 per share. CEO Travis Dalton also bought approximately $75,000 of stock, while an SVP sold about $355,000.

Claritev (NYSE:CTEV - Get Free Report)'s stock price fell 4.3% during trading on Thursday . The stock traded as low as $32.06 and last traded at $32.11. 56,794 shares traded hands during trading, a decline of 64% from the average session volume of 158,584 shares. The stock had previously closed at $33.56.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CTEV shares. Citigroup reissued a "buy" rating and issued a $45.00 target price (up from $40.00) on shares of Claritev in a research note on Monday, August 10th. Piper Sandler reaffirmed an "overweight" rating and issued a $73.00 price target on shares of Claritev in a research note on Wednesday, August 12th. Wells Fargo & Company lifted their price objective on shares of Claritev from $22.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 12th. Barclays reaffirmed 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, Wall Street Zen raised shares of Claritev from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Six equities research 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. According to MarketBeat, Claritev currently has an average rating of "Moderate Buy" and a consensus price target of $44.83.

Claritev Price Performance

The stock's 50-day simple moving average is $32.53 and its 200 day simple moving average is $26.28. The stock has a market capitalization of $548.50 million, a P/E ratio of -1.90 and a beta of 0.88.

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

Insider Buying and Selling

In other Claritev news, CEO Travis Dalton purchased 1,950 shares of the company's stock in a transaction dated Friday, August 28th. The stock was purchased at an average price of $38.48 per share, with a total value of $75,036.00. Following the completion of the purchase, the chief executive officer owned 52,322 shares of the company's stock, valued at approximately $2,013,350.56. The trade was a 3.87% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Tiffani Misencik sold 8,850 shares of the business's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $40.07, for a total transaction of $354,619.50. Following the completion of the transaction, the senior vice president owned 123,723 shares in the company, valued at approximately $4,957,580.61. The trade was a 6.68% decrease in their position. The disclosure for this sale is available in the SEC filing. 7.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. State of Wyoming increased its position in shares of Claritev by 239.2% in the first quarter. State of Wyoming now owns 2,018 shares of the company's stock worth $33,000 after purchasing an additional 1,423 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Claritev in the first quarter valued at approximately $38,000. Integrated Wealth Concepts LLC bought a new stake in shares of Claritev in the second quarter worth about $44,000. AXQ Capital LP purchased a new position in Claritev during the 4th quarter valued at about $223,000. Finally, Engineers Gate Manager LP purchased a new stake in Claritev in the 2nd quarter worth approximately $245,000. 87.15% of the stock is owned by institutional investors.

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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