Claritev (NYSE:CTEV) Shares Up 10.5% – Still a Buy?

Claritev (NYSE:CTEV)’s share price rose 10.5% during trading on Monday . The stock traded as high as $32.01 and last traded at $31.99. Approximately 55,309 shares traded hands during trading, a decline of 77% from the average daily volume of 241,442 shares. The stock had previously closed at $28.94.

Analyst Ratings Changes

Several research firms have weighed in on CTEV. Wells Fargo & Company set a $33.00 price target on shares of Claritev and gave the stock an “equal weight” rating in a research note on Thursday. Citigroup dropped their target price on Claritev from $80.00 to $63.00 and set a “buy” rating for the company in a report on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Claritev in a research report on Monday, December 29th. Finally, Guggenheim began coverage on Claritev in a research report on Monday. They issued a “buy” rating and a $43.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Claritev currently has an average rating of “Hold” and an average price target of $46.33.

Claritev Trading Up 10.7%

The business has a 50-day simple moving average of $44.45 and a 200 day simple moving average of $51.71.

Insiders Place Their Bets

In related news, EVP Michael Kim acquired 9,600 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was acquired at an average cost of $38.25 per share, for a total transaction of $367,200.00. Following the acquisition, the executive vice president owned 105,529 shares of the company’s stock, valued at $4,036,484.25. This trade represents a 10.01% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP William B. Mintz bought 916 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was bought at an average cost of $38.00 per share, with a total value of $34,808.00. Following the completion of the transaction, the senior vice president owned 65,325 shares in the company, valued at approximately $2,482,350. This trade represents a 1.42% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 17,347 shares of company stock worth $710,938 in the last ninety days. Insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Claritev

A number of institutional investors have recently bought and sold shares of CTEV. H&F Corporate Investors VIII Ltd. bought a new position in Claritev in the third quarter worth $285,988,000. AustralianSuper Pty Ltd purchased a new stake in shares of Claritev in the 3rd quarter worth about $169,605,000. Public Investment Fund bought a new position in shares of Claritev in the 3rd quarter worth about $68,009,000. Vanguard Group Inc. bought a new position in shares of Claritev in the 3rd quarter worth about $27,483,000. Finally, Topline Capital Management LLC bought a new stake in Claritev during the third quarter worth about $10,711,000. 87.15% of the stock is owned by institutional investors.

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.