Claritev (NYSE:CTEV) Shares Gap Up – What’s Next?

Claritev (NYSE:CTEV) gapped up before the market opened on Monday . The stock had previously closed at $34.08, but opened at $37.53. Claritev shares last traded at $37.27, with a volume of 2,446 shares traded.

Wall Street Analyst Weigh In

CTEV has been the subject of several research analyst reports. Zacks Research raised shares of Claritev from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Claritev in a research note 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. Wells Fargo & Company boosted their target price on Claritev from $22.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen upgraded Claritev from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $44.83.

Claritev Stock Performance

The stock has a fifty day simple moving average of $30.68 and a 200-day simple moving average of $24.47. The stock has a market cap of $630.37 million, a P/E ratio of -2.19 and a beta of 0.74.

Claritev (NYSE:CTEV) last released 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 firm had revenue of $257.48 million during the quarter. On average, research analysts anticipate that Claritev will post -15.13 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Tiffani Misencik sold 8,850 shares of Claritev stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $40.07, for a total value of $354,619.50. Following the sale, the senior vice president owned 123,723 shares of the company’s stock, valued at approximately $4,957,580.61. This trade represents a 6.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP William B. Mintz sold 8,431 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $34.24, for a total value of $288,677.44. Following the completion of the sale, the senior vice president owned 71,195 shares in the company, valued at $2,437,716.80. The trade was a 10.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 7.40% of the stock is currently owned by company insiders.

Institutional Trading of Claritev

A number of institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. bought a new position in Claritev in the third quarter valued at $1,245,000. Vanguard Group Inc. acquired a new stake in Claritev in the 3rd quarter valued at $27,483,000. Ameritas Investment Partners Inc. bought a new stake in Claritev during the 3rd quarter worth about $42,000. Russell Investments Group Ltd. bought a new stake in Claritev during the 3rd quarter worth about $369,000. Finally, Legal & General Group Plc acquired a new position in shares of Claritev during the 3rd quarter worth about $45,000. 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.