Claritev (NYSE:CTEV) Stock Has Consensus Target Price of $44.83 According to Analysts

Claritev (NYSE:CTEV) has earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $44.83.

A number of analysts have recently commented on CTEV shares. Canaccord Genuity Group boosted their price target on Claritev from $37.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 10th. Barclays reiterated an “overweight” rating and set a $40.00 price objective (up from $28.00) on shares of Claritev in a report on Thursday, August 20th. Wall Street Zen upgraded Claritev from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Wells Fargo & Company lifted their target price on Claritev from $22.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 12th. Finally, Piper Sandler restated an “overweight” rating and issued a $73.00 target price on shares of Claritev in a research note on Wednesday, August 12th.

Claritev Stock Down 0.0%

Shares of NYSE:CTEV traded down $0.01 during midday trading on Tuesday, reaching $26.89. 175,323 shares of the company were exchanged, compared to its average volume of 312,186. Claritev has a fifty-two week low of $11.50 and a fifty-two week high of $55.50. The stock has a fifty day simple moving average of $26.18 and a two-hundred day simple moving average of $25.46. The firm has a market cap of $455.79 million, a PE ratio of -1.64 and a beta of 1.05.

Claritev (NYSE:CTEV) last posted its quarterly earnings data on Monday, November 9th. The company reported $1.77 EPS for the quarter, beating the consensus estimate of ($3.68) by $5.45. The company had revenue of $268.31 million during the quarter. As a group, analysts forecast that Claritev will post -15.02 earnings per share for the current year.

Insider Buying and Selling at Claritev

In other Claritev news, CEO Travis Dalton purchased 5,110 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The stock was bought at an average cost of $29.34 per share, with a total value of $149,927.40. Following the purchase, the chief executive officer directly owned 57,432 shares of the company’s stock, valued at $1,685,054.88. The trade was a 9.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Ares Management Llc acquired 65,579 shares of the stock in a transaction dated Tuesday, November 10th. The stock was acquired at an average price of $26.14 per share, for a total transaction of $1,714,235.06. Following the completion of the acquisition, the insider directly owned 2,049,518 shares of the company’s stock, valued at $53,574,400.52. The trade was a 3.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 197,973 shares of company stock valued at $5,012,818 over the last quarter. Insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Claritev

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Investment Fund bought a new position in shares of Claritev in the 2nd quarter valued at about $43,703,438. Bank of America Corp DE grew its stake in Claritev by 146.6% in the first quarter. Bank of America Corp DE now owns 97,795 shares of the company’s stock valued at $1,598,000 after purchasing an additional 58,133 shares in the last quarter. Marshall Wace LLP increased its position in shares of Claritev by 1,569.2% during the 3rd quarter. Marshall Wace LLP now owns 225,890 shares of the company’s stock worth $4,782,000 after purchasing an additional 212,357 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Claritev during the 2nd quarter worth approximately $245,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Claritev during the 2nd quarter worth approximately $44,000. 87.15% of the stock is currently owned by institutional investors and hedge funds.

Claritev Company Profile

Claritev, formerly known as MultiPlan, provides technology-enabled services intended to help manage healthcare costs and support payment accuracy. Its offerings include access to provider networks, claims and payment solutions, and data analytics for evaluating healthcare costs and utilization. The company serves health plans, self-insured employers, third-party administrators and other participants in the U.S. healthcare system. Its services are designed to help customers identify cost-management opportunities and support more efficient healthcare transactions.