Key Points
- Tara O'neil, Claritev's senior vice president, bought 625 shares at an average price of $38.84 on Nov. 17 for $24,275, raising her holding to 25,028 shares (a 2.56% increase) as disclosed in an SEC filing.
- Heavy institutional interest: about 87.15% of CTEV is institutionally owned, with recent large stakes added by H&F Corporate Investors VIII, AustralianSuper, Public Investment Fund, Vanguard and Ares; Claritev's market cap is roughly $695 million.
- Analyst views are mixed — Citigroup upgraded to a "buy" with an $80 target while Weiss Ratings reiterated a "sell (D-)", leaving the consensus at a "Hold" and an average price target near $80.
Claritev (NYSE:CTEV - Get Free Report) SVP Tara O'neil acquired 625 shares of Claritev stock in a transaction dated Monday, November 17th. The shares were acquired at an average cost of $38.84 per share, with a total value of $24,275.00. Following the completion of the acquisition, the senior vice president directly owned 25,028 shares in the company, valued at $972,087.52. This trade represents a 2.56% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.
Claritev Stock Performance
NYSE:CTEV opened at $42.05 on Wednesday. The firm has a market capitalization of $695.09 million, a PE ratio of -2.01 and a beta of 0.42. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 310.26. Claritev has a 12-month low of $4.80 and a 12-month high of $74.07. The firm has a 50-day moving average price of $57.41 and a 200 day moving average price of $49.25.
Institutional Investors Weigh In On Claritev
A number of large investors have recently bought and sold shares of CTEV. H&F Corporate Investors VIII Ltd. acquired a new stake in Claritev during the 3rd quarter valued at $285,988,000. AustralianSuper Pty Ltd bought a new stake in shares of Claritev during the third quarter worth $169,605,000. Ares Management LLC increased its stake in shares of Claritev by 108.5% in the first quarter. Ares Management LLC now owns 1,863,105 shares of the company's stock valued at $43,131,000 after buying an additional 969,367 shares in the last quarter. Public Investment Fund bought a new position in shares of Claritev in the third quarter valued at about $68,009,000. Finally, Vanguard Group Inc. acquired a new position in Claritev during the 3rd quarter worth about $27,483,000. 87.15% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Claritev in a research report on Wednesday, November 12th. Citigroup lifted their price objective on Claritev from $74.00 to $80.00 and gave the company a "buy" rating in a report on Monday, November 10th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Claritev currently has an average rating of "Hold" and an average price target of $80.00.
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About Claritev
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MultiPlan Corporation, together with its subsidiaries, provides data analytics and technology-enabled cost management, payment, and revenue integrity solutions to the healthcare industry in the United States. The company offers analytics-based services that reduce medical costs, through data-driven algorithms and insights that detect claims over-charges and negotiate or recommend reimbursement; and network-based services that provide contracted discounts with healthcare providers, as well as outsourced network development and management services.
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