Claritev (NYSE:CTEV) Price Target Raised to $30.00

Claritev (NYSE:CTEV) had its price target increased by Wells Fargo & Company from $22.00 to $30.00 in a research report report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other research firms also recently issued reports on CTEV. 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. Barclays assumed coverage on shares of Claritev in a report on Friday, April 24th. They set an “overweight” rating and a $28.00 price objective for the company. Canaccord Genuity Group raised their price target 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 lowered Claritev from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Claritev in a research report on Wednesday, June 24th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Claritev currently has an average rating of “Hold” and a consensus price target of $42.83.

Claritev Price Performance

Shares of Claritev stock opened at $38.51 on Wednesday. The business has a 50-day simple moving average of $29.85 and a 200 day simple moving average of $24.05. Claritev has a one year low of $11.50 and a one year high of $74.07. The firm has a market capitalization of $652.74 million, a price-to-earnings ratio of -2.26 and a beta of 0.74.

Insider Activity at Claritev

In related news, SVP William B. Mintz sold 8,431 shares of Claritev 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 sale, the senior vice president directly owned 71,195 shares in the company, valued at approximately $2,437,716.80. This trade represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Claritev

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in Claritev by 2.5% in the 1st quarter. Bank of New York Mellon Corp now owns 18,111 shares of the company’s stock worth $296,000 after acquiring an additional 447 shares during the last quarter. State of Wyoming purchased a new stake in shares of Claritev during the 4th quarter valued at approximately $25,000. Ameritas Investment Partners Inc. bought a new position in Claritev in the 3rd quarter worth approximately $42,000. Legal & General Group Plc bought a new position in Claritev in the 3rd quarter worth approximately $45,000. Finally, Invesco Ltd. grew its stake in Claritev by 4.8% in the 4th quarter. Invesco Ltd. now owns 22,802 shares of the company’s stock valued at $975,000 after buying an additional 1,044 shares in the last quarter. 87.15% of the stock is owned by hedge funds and other 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.