Key Points
- Claritev CFO Douglas Garis sold 9,025 shares at an average price of $30.59, generating $276,074.75. The Rule 10b5-1 transaction reduced his ownership by 4.64%, leaving him with 185,416 shares.
- Claritev reported quarterly earnings of $1.41 per share, beating the consensus estimate of a $4.10 loss, while revenue reached $257.48 million. Analysts project a full-year loss of $15.13 per share.
- Analysts have a “Moderate Buy” consensus on CTEV, with an average price target of $44.83 versus an opening price of $29.48; institutional investors own 87.15% of the company.
Claritev (NYSE:CTEV - Get Free Report) CFO Douglas Garis sold 9,025 shares of the company's stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $30.59, for a total transaction of $276,074.75. Following the completion of the transaction, the chief financial officer owned 185,416 shares of the company's stock, valued at approximately $5,671,875.44. This trade represents a 4.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Claritev Stock Performance
CTEV stock opened at $29.48 on Wednesday. The company has a market capitalization of $499.69 million, a P/E ratio of -1.73 and a beta of 0.88. The company has a fifty day moving average price of $32.56 and a 200-day moving average price of $26.71. Claritev has a 52-week low of $11.50 and a 52-week high of $73.68.
Claritev (NYSE:CTEV - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of ($4.10) by $5.51. The business had revenue of $257.48 million during the quarter. As a group, sell-side analysts forecast that Claritev will post -15.13 earnings per share for the current fiscal year.
Analyst Ratings Changes
CTEV has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on Claritev from $22.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 12th. Zacks Research raised shares of Claritev from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 13th. Canaccord Genuity Group boosted their price target on shares of Claritev from $37.00 to $43.00 and gave the stock a "buy" rating 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. Finally, Piper Sandler reiterated an "overweight" rating and set a $73.00 price objective on shares of Claritev in a research report on Wednesday, August 12th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $44.83.
Get Our Latest Research Report on CTEV
Institutional Investors Weigh In On Claritev
Several institutional investors and hedge funds have recently made changes to their positions in the business. Public Investment Fund acquired a new stake in Claritev during the second quarter worth approximately $43,703,438. Bank of America Corp DE boosted its holdings in shares of Claritev by 146.6% during the 1st 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 in the last quarter. Arini Captial Management Ltd bought a new position in shares of Claritev during the 4th quarter worth approximately $64,291,000. Beach Point Capital Management LP grew its position in shares of Claritev by 77.4% during the 4th quarter. Beach Point Capital Management LP now owns 755,002 shares of the company's stock worth $32,276,000 after buying an additional 329,424 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in shares of Claritev during the 2nd quarter worth approximately $245,000. Institutional investors own 87.15% of the company's stock.
Claritev Company Profile
(
Get Free Report)
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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