Wells Fargo & Company Has Lowered Expectations for Claritev (NYSE:CTEV) Stock Price

Claritev (NYSE:CTEV) had its price objective lowered by analysts at Wells Fargo & Company from $30.00 to $22.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 47.75% from the stock’s current price.

A number of other equities analysts also recently issued reports on CTEV. Guggenheim reaffirmed a “buy” rating on shares of Claritev in a research note on Tuesday, February 24th. Citigroup reduced their target price on Claritev from $63.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. UBS Group reiterated a “buy” rating on shares of Claritev in a report on Tuesday, February 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Claritev in a report on Monday, December 29th. Three analysts have 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $27.00.

Claritev Stock Performance

CTEV stock opened at $14.89 on Thursday. Claritev has a fifty-two week low of $12.04 and a fifty-two week high of $74.07. The firm has a market capitalization of $245.83 million, a price-to-earnings ratio of -0.86 and a beta of 0.60. The company’s 50 day moving average price is $22.46 and its 200 day moving average price is $41.42.

Insider Transactions at Claritev

In related news, CEO Travis Dalton purchased 15,380 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was purchased at an average price of $13.00 per share, for a total transaction of $199,940.00. Following the acquisition, the chief executive officer directly owned 24,952 shares in the company, valued at $324,376. The trade was a 160.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Kim acquired 15,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were purchased at an average price of $16.50 per share, for a total transaction of $247,500.00. Following the purchase, the executive vice president directly owned 182,878 shares of the company’s stock, valued at approximately $3,017,487. This trade represents a 8.94% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 61,680 shares of company stock valued at $899,437. Insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Claritev

Hedge funds have recently bought and sold shares of the business. Invesco Ltd. raised its holdings in Claritev by 4.8% in the fourth quarter. Invesco Ltd. now owns 22,802 shares of the company’s stock valued at $975,000 after acquiring an additional 1,044 shares in the last quarter. FAS Wealth Partners Inc. increased its position in shares of Claritev by 20.5% in the 4th quarter. FAS Wealth Partners Inc. now owns 31,097 shares of the company’s stock worth $1,329,000 after purchasing an additional 5,290 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Claritev in the 4th quarter worth about $729,000. Arini Captial Management Ltd acquired a new stake in shares of Claritev in the 4th quarter valued at about $64,291,000. Finally, Third Point LLC acquired a new stake in shares of Claritev in the 4th quarter valued at about $6,199,000. Institutional investors and hedge funds own 87.15% of the company’s stock.

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.