Citigroup Cuts Claritev (NYSE:CTEV) Price Target to $63.00

Claritev (NYSE:CTEV) had its target price cut by Citigroup from $80.00 to $63.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Claritev in a report on Monday, December 29th. Wells Fargo & Company set a $33.00 price target on shares of Claritev and gave the company an “equal weight” rating in a report on Thursday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $48.00.

Claritev Trading Down 6.5%

Shares of CTEV stock opened at $29.18 on Friday. Claritev has a 12-month low of $11.70 and a 12-month high of $74.07. The business’s fifty day simple moving average is $44.45 and its 200-day simple moving average is $51.71. The company has a market cap of $482.35 million, a PE ratio of -1.40 and a beta of 0.51.

Insider Activity

In other Claritev news, EVP Michael Kim purchased 9,600 shares of Claritev stock in a transaction that occurred on Monday, November 17th. The stock was bought at an average price of $38.25 per share, with a total value 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Corporate Investors Viii H&F sold 1,500,000 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $48.67, for a total value of $73,005,000.00. Following the transaction, the insider owned 8,932 shares in the company, valued at $434,720.44. This represents a 99.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased a total of 17,347 shares of company stock worth $710,938 over the last three months. Corporate insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Claritev

Institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Claritev in the third quarter worth approximately $42,000. Legal & General Group Plc purchased a new stake in shares of Claritev during the third quarter worth $45,000. BNP Paribas Financial Markets acquired a new stake in shares of Claritev in the third quarter valued at about $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Claritev in the third quarter worth about $187,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Claritev during the third quarter worth about $322,000. 87.15% of the stock is currently owned by institutional investors and hedge funds.

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.