Claritev (NYSE:CTEV) Stock Price Up 7.7% Following Analyst Upgrade

Claritev (NYSE:CTEVGet Free Report) shares shot up 7.7% on Thursday after Wells Fargo & Company raised their price target on the stock from $22.00 to $30.00. Wells Fargo & Company currently has an equal weight rating on the stock. Claritev traded as high as $38.05 and last traded at $38.04. Approximately 42,764 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 164,040 shares. The stock had previously closed at $35.32.

A number of other research firms have also issued reports on CTEV. Zacks Research lowered shares of Claritev from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Claritev from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Barclays assumed coverage on shares of Claritev in a report on Friday, April 24th. They set an “overweight” rating and a $28.00 price target for the company. Canaccord Genuity Group lifted their price target on shares of Claritev from $37.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a report on Wednesday, June 24th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $42.83.

Check Out Our Latest Report on Claritev

Insider Buying and Selling at Claritev

In other news, SVP William B. Mintz sold 8,431 shares of the 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 directly owned 71,195 shares of the company’s stock, valued at $2,437,716.80. This represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Claritev

A number of institutional investors have recently modified their holdings of CTEV. FAS Wealth Partners Inc. raised its holdings in shares of Claritev by 49.5% during the 1st quarter. FAS Wealth Partners Inc. now owns 46,477 shares of the company’s stock valued at $759,000 after purchasing an additional 15,380 shares in the last quarter. Bank of America Corp DE boosted its holdings in Claritev by 146.6% in the first quarter. Bank of America Corp DE now owns 97,795 shares of the company’s stock worth $1,598,000 after purchasing an additional 58,133 shares in the last quarter. RBF Capital LLC boosted its holdings in Claritev by 0.8% in the first quarter. RBF Capital LLC now owns 135,314 shares of the company’s stock worth $2,211,000 after purchasing an additional 1,127 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Claritev during the first quarter worth $38,000. Finally, State of Wyoming increased its position in Claritev by 239.2% during the first quarter. State of Wyoming now owns 2,018 shares of the company’s stock worth $33,000 after buying an additional 1,423 shares during the last quarter. Institutional investors and hedge funds own 87.15% of the company’s stock.

Claritev Stock Up 7.7%

The company’s 50-day simple moving average is $29.32 and its 200 day simple moving average is $23.86. The stock has a market capitalization of $648.58 million, a price-to-earnings ratio of -2.24 and a beta of 0.74.

Claritev Company Profile

(Get Free Report)

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.

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