Claritev (NYSE:CTEV) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Claritev (NYSE:CTEV) from a strong sell rating to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other research firms also recently commented on CTEV. Citigroup reissued a “buy” rating and issued a $45.00 price objective (up from $40.00) on shares of Claritev in a research note on Monday. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 target price on shares of Claritev in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Claritev in a report on Wednesday, June 24th. Canaccord Genuity Group lifted their target price on Claritev from $37.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Wells Fargo & Company boosted their price target on shares of Claritev from $22.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.83.

Claritev Price Performance

CTEV opened at $38.51 on Thursday. The business has a 50 day moving average price of $29.85 and a two-hundred day moving average price of $24.05. The company has a market capitalization of $652.74 million, a price-to-earnings ratio of -2.26 and a beta of 0.74. Claritev has a 1-year low of $11.50 and a 1-year high of $74.07.

Insider Transactions at Claritev

In other Claritev news, SVP William B. Mintz sold 8,431 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $34.24, for a total value of $288,677.44. Following the transaction, the senior vice president owned 71,195 shares of the company’s stock, valued at approximately $2,437,716.80. This represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Claritev

Large investors have recently modified their holdings of the stock. Arini Captial Management Ltd acquired a new stake in shares of Claritev during the fourth quarter worth $64,291,000. Beach Point Capital Management LP boosted its position in shares of Claritev by 77.4% in the 4th quarter. Beach Point Capital Management LP now owns 755,002 shares of the company’s stock valued at $32,276,000 after purchasing an additional 329,424 shares during the period. AXQ Capital LP acquired a new position in shares of Claritev in the 4th quarter valued at $223,000. Hussman Strategic Advisors Inc. acquired a new position in shares of Claritev in the 4th quarter valued at $449,000. Finally, Los Angeles Capital Management LLC purchased a new position in Claritev in the 4th quarter worth about $45,000. 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.