Claritev (NYSE:CTEV) Now Covered by Analysts at Canaccord Genuity Group

Canaccord Genuity Group assumed coverage on shares of Claritev (NYSE:CTEV) in a research report report published on Friday morning, Marketbeat.com reports. The firm issued a buy rating and a $32.00 target price on the stock.

Several other brokerages also recently weighed in on CTEV. Barclays assumed coverage on Claritev in a research report on Friday, April 24th. They set an “overweight” rating and a $28.00 price objective for the company. Citigroup restated a “buy” rating on shares of Claritev in a research report on Wednesday, May 13th. UBS Group reiterated a “buy” rating on shares of Claritev in a research report on Tuesday, February 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a research report on Friday, March 27th. Finally, Guggenheim reiterated a “buy” rating on shares of Claritev in a research report on Tuesday, February 24th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Claritev has an average rating of “Moderate Buy” and an average price target of $28.20.

Claritev Stock Performance

NYSE:CTEV opened at $25.29 on Friday. The stock has a fifty day moving average price of $20.42 and a 200-day moving average price of $28.04. The company has a market cap of $431.19 million, a price-to-earnings ratio of -1.46 and a beta of 0.76. Claritev has a fifty-two week low of $11.50 and a fifty-two week high of $74.07.

Insider Buying and Selling at Claritev

In related news, EVP Michael Kim purchased 15,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was bought at an average price of $16.50 per share, with a total value of $247,500.00. Following the completion of the purchase, the executive vice president owned 182,878 shares in the company, valued at approximately $3,017,487. This represents a 8.94% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Claritev

Several institutional investors and hedge funds have recently made changes to their positions in CTEV. Bank of New York Mellon Corp grew its stake in shares of Claritev by 2.5% in the 1st quarter. Bank of New York Mellon Corp now owns 18,111 shares of the company’s stock valued at $296,000 after buying an additional 447 shares during the period. State of Wyoming acquired a new stake in Claritev in the fourth quarter valued at approximately $25,000. Ameritas Investment Partners Inc. acquired a new stake in Claritev in the third quarter valued at approximately $42,000. Legal & General Group Plc acquired a new stake in Claritev in the third quarter valued at approximately $45,000. Finally, Invesco Ltd. grew its stake 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 during the period. Institutional investors and hedge funds own 87.15% of the company’s stock.

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.