Claritev (NYSE:CTEV) Trading 9.7% Higher – Time to Buy?

Claritev (NYSE:CTEV)’s share price rose 9.7% on Thursday . The company traded as high as $33.46 and last traded at $33.46. 60,726 shares were traded during trading, a decline of 66% from the average daily volume of 177,048 shares. The stock had previously closed at $30.49.

Wall Street Analysts Forecast Growth

CTEV has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Claritev in a research note on Wednesday. Piper Sandler set a $61.00 price objective on Claritev in a research note on Wednesday, June 3rd. Citigroup reissued a “buy” rating on shares of Claritev in a report on Wednesday, May 13th. Canaccord Genuity Group started coverage on Claritev in a research report on Friday, May 29th. They issued a “buy” rating and a $32.00 target price for the company. Finally, Wall Street Zen lowered Claritev from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.67.

Claritev Trading Down 5.0%

The business has a fifty day moving average of $25.56 and a 200-day moving average of $25.53. The firm has a market cap of $562.58 million, a PE ratio of -1.90 and a beta of 0.77.

Institutional Investors Weigh In On Claritev

A number of institutional investors and hedge funds have recently modified their holdings of CTEV. Bank of New York Mellon Corp boosted its position in shares of Claritev by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 18,111 shares of the company’s stock valued at $296,000 after acquiring an additional 447 shares during the period. State of Wyoming bought a new stake in Claritev during the 4th quarter worth approximately $25,000. Ameritas Investment Partners Inc. bought a new stake in Claritev during the 3rd quarter worth approximately $42,000. Legal & General Group Plc purchased a new stake in Claritev in the 3rd quarter worth approximately $45,000. Finally, Invesco Ltd. lifted its stake in Claritev by 4.8% in the 4th quarter. Invesco Ltd. now owns 22,802 shares of the company’s stock worth $975,000 after purchasing an additional 1,044 shares in the last quarter. 87.15% of the stock is owned by hedge funds and other institutional investors.

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.