Claritev (NYSE:CTEV – Get Free Report) CFO Douglas Garis sold 9,025 shares of Claritev stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $30.59, for a total value of $276,074.75. Following the completion of the sale, the chief financial officer owned 185,416 shares of the company’s stock, valued at approximately $5,671,875.44. The trade was a 4.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Claritev Stock Down 6.8%
NYSE CTEV traded down $2.14 during trading hours on Tuesday, hitting $29.48. The company’s stock had a trading volume of 163,616 shares, compared to its average volume of 160,320. Claritev has a twelve month low of $11.50 and a twelve month high of $73.68. The firm has a market capitalization of $499.69 million, a P/E ratio of -1.73 and a beta of 0.88. The stock has a fifty day moving average of $32.54 and a 200 day moving average of $26.63.
Claritev (NYSE:CTEV – Get Free Report) last released its earnings results on Friday, August 7th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of ($4.10) by $5.51. The business had revenue of $257.48 million for the quarter. On average, analysts predict that Claritev will post -15.13 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on CTEV. Barclays restated an “overweight” rating and set a $40.00 target price (up from $28.00) on shares of Claritev in a report on Thursday, August 20th. Citigroup reiterated a “buy” rating and issued a $45.00 price target (up from $40.00) on shares of Claritev in a research report on Monday, August 10th. Wall Street Zen raised shares of Claritev from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Piper Sandler restated an “overweight” rating and set a $73.00 price objective on shares of Claritev in a report on Wednesday, August 12th. Finally, Wells Fargo & Company upped their target price on shares of Claritev from $22.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.83.
View Our Latest Analysis on CTEV
Institutional Investors Weigh In On Claritev
Several hedge funds have recently modified their holdings of the stock. Public Investment Fund acquired a new stake in Claritev in the 2nd quarter valued at $43,703,438. Bank of America Corp DE raised its holdings in Claritev by 146.6% during the first quarter. Bank of America Corp DE now owns 97,795 shares of the company’s stock worth $1,598,000 after buying an additional 58,133 shares during the last quarter. Arini Captial Management Ltd bought a new position in shares of Claritev in the fourth quarter valued at $64,291,000. Beach Point Capital Management LP lifted its stake in shares of Claritev by 77.4% in the fourth quarter. Beach Point Capital Management LP now owns 755,002 shares of the company’s stock valued at $32,276,000 after buying an additional 329,424 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of Claritev during the second quarter valued at about $245,000. 87.15% of the stock is owned by hedge funds and other 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.
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